Magnetization, AC susceptibility and µSR measurements have been performed in neutral phthalocyaninato lanthanide ([LnPc2] 0 ) single molecule magnets in order to determine the low-energy levels structure and to compare the low-frequency spin excitations probed by means of macroscopic techniques, such as AC susceptibility, with the ones explored by means of techniques of microscopic character, such as µSR. Both techniques show a high temperature thermally activated regime for the spin dynamics and a low temperature tunneling one. While in the activated regime the correlation times for the spin fluctuations estimated by AC susceptibility and µSR basically agree, clear discrepancies are found in the tunneling regime. In particular, µSR probes a faster dynamics with respect to AC susceptibility. It is argued that the tunneling dynamics probed by µSR involves fluctuations which do not yield a net change in the macroscopic magnetization probed by AC susceptibiliy. Finally resistivity measurements in [TbPc2] 0 crystals show a high temperature nearly metallic behaviour and a low temperature activated behaviour.