Lloyds Bank is offering Brits £185 for switching in July
Brits aiming to bolster their savings this summer could pocket nearly £200 simply by switching their banking provider. Lloyds Bank is offering new customers £185 for switching to their banking services.
To be eligible for the complimentary cash, applicants must satisfy three specific conditions. But time is of the essence as the promotion ends in less than a month's time, the Liverpool Echo reports. The Lloyds Bank website says: "Snap up £185 when you switch." To qualify, you'll need to meet these criteria:
Open either a new Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Lloyds Premier account
Use the Current Account Switching Service to switch three or more active direct debits and close your bank account held with another bank
However, if you received a switching offer since April 2020 for switching to any Lloyds, Bank of Scotland or Halifax bank account, you won't be eligible again. This deal ends on July 28 this year.
Here's how to make the Lloyds switch
Kick off the process by opening a current account with Lloyds. This can be done through their website here.
The bank says: 'We'll ask if you want to switch when you apply. This will be before you choose your new account. You'll need the details of the account you want to switch to us, including your debit card number.'
It will then take around seven working days for the switch to complete. 'We'll let you know when it's done – in the meantime, you can still use your old account,' Lloyds says.
'Your switch is covered by the switch guarantee' On your switch date, Lloyds will transfer your balance and close your old account.
They will move over all incoming payments (like your salary) and outgoing payments (like direct debits and standing orders), and redirect payments made to your old account and give the payor your new details.
The current account options you can choose between include:
Club Lloyds - £5 monthly fee that is refunded each month you pay in £2,000 or more
Lloyds Premier - £15 monthly fee that is refunded if you pay in £5,000 a month or have £100,000 saved with Lloyds
Club Lloyds Silver - £11.50 per month plus £5 Club Lloyds monthly fee which is refunded each month you pay in £2,000 or more
Club Lloyds Platinum - £22.50 per month plus £5 Club Lloyds monthly fee which is refunded each month you pay in £2,000 or more
Other benefits of switching to Lloyds include no debit card fees abroad. This means the bank won't charge your debit card fees when you use your card to:
You also qualify for a lifestyle benefit each year including either 12 months of Disney+, six cinema tickets, an annual digital Coffee Club and Gourmet Society membership or an annual magazine subscription.
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'Haven holiday parks offer touring and camping pitches, which are much cheaper than staying in a caravan,' she explains. 6 Holly has also shared her camping trip tips Credit: SUPPLIED 'I'm not keen on camping, so I once paid £100 for a tent pitch at Haven in Kent but stayed at a nearby Travelodge for £29 a night instead of paying over £1,000 for a caravan. 'We used the Travelodge as our base, filled up on their buffet breakfast, and spent our days at the holiday park. It was such a money-saver.' For families who enjoy camping, Holly suggests buying a cheap tent to use at the holiday park for an even cheaper alternative. 'It's all about personal preference, but there are so many ways to save on holidays.' SAVINGS: £900 - £1,200 Summer toys Keeping kids entertained over the summer doesn't have to cost a fortune, and Holly has plenty of ideas for treats and toys. Apps like YoungPlanet are a fantastic way to save money while keeping kids entertained. 'Families can list toys and children's items they no longer need, and everything is free to collect locally,' Holly explains. 6 Holly suggests checking out a few apps for new toys without spending a penny Credit: Supplied 'It's a great way to get things like garden toys, books, games, and bikes without spending anything. 'It's also perfect for passing on items your own kids have finished with to help others. 'Using the YoungPlanet app to get free toys like garden toys, books, or bikes could save you anywhere around £10 - £50 per item. 'Claiming three to four items over the summer could save up to £200.' She also mentions apps like Jungle Search, which is free to use and helps find mispriced items on Amazon. 'You'd be amazed at what you can find - everything from garden toys to paddling pools at a fraction of the cost,' she explains. 'When my son was born, I got almost everything for his nursery for under £200, even though the retail value was £1,200.' 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'I use a Google Chrome plug-in such as Honey or Pouch, " she says. 'When you're shopping online and get to the checkout, the plug-in quickly tries out all the discount codes that might work for that store and applies them to your basket in seconds. 'Sometimes, you can even use more than one code on the same purchase.' But when it comes to the best digital coupon app, Holly's favourite is Shopimium. 'It's really user friendly and a great one to get people started.' SAVINGS: £50+ Get talking with ChatGPT Holly embraces AI to make saving easier. 'In my Facebook group, using ChatGPT to save money is really popular right now,' she explains. 'People are using it to figure out what to cook with leftovers in their fridge. You can just write down what you've got – potatoes, random leftovers – and ask ChatGPT what meal you can make. 'It provides recipes in seconds, and you end up with a family meal you'd never have thought of. It's a great way to avoid wasting food and save money.' 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