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  • FIRST POST
    • Gers
    • By Gers 17th Oct 16, 2:04 PM
    • 5,908Posts
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    Gers
    Lloyds - Personal Relationship Manager
    • #1
    • 17th Oct 16, 2:04 PM
    Lloyds - Personal Relationship Manager 17th Oct 16 at 2:04 PM
    Just had a letter from Lloyds about providing me with a Personal Relationship Manager - don't think it's my own private counsellor or agony aunt.

    Has anyone else been offered this or even been using it?
    Last edited by Gers; 17-10-2016 at 2:27 PM.
Page 1
    • Gers
    • By Gers 17th Oct 16, 2:09 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    • #2
    • 17th Oct 16, 2:09 PM
    • #2
    • 17th Oct 16, 2:09 PM
    PS - according to their website:

    Get a dedicated Relationship Manager and additional services when you save or invest £100,000 or have £100,000 annual income
    I have neither of the above!
    • jonesMUFCforever
    • By jonesMUFCforever 17th Oct 16, 2:18 PM
    • 24,174 Posts
    • 11,445 Thanks
    jonesMUFCforever
    • #3
    • 17th Oct 16, 2:18 PM
    • #3
    • 17th Oct 16, 2:18 PM
    Could it be that the bank think you are a good bet for future business with them?
    So it means you get a named person who you can contact rather than talk to a nobody.
    What goes around - comes around
    give lots and you will always receive lots
    • Gers
    • By Gers 17th Oct 16, 2:27 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    • #4
    • 17th Oct 16, 2:27 PM
    • #4
    • 17th Oct 16, 2:27 PM
    Could it be that the bank think you are a good bet for future business with them?
    So it means you get a named person who you can contact rather than talk to a nobody.
    Originally posted by jonesMUFCforever
    Thanks for the suggestion - but I'm semi-retired and not in any position to do 'future business'. As they removed Vantage from their accounts I'm down to one 'normal' account and a Club one, along with a credit card I hardly use. Last time I used it was to pay for a flight to Australia in April which was paid off immediately (just wanted Sect 75 protection).

    They may realise that they've made a mistake if I contact them 'to be introduced' to my PRM.

    Cheers
    • EssexExile
    • By EssexExile 17th Oct 16, 4:12 PM
    • 2,425 Posts
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    EssexExile
    • #5
    • 17th Oct 16, 4:12 PM
    • #5
    • 17th Oct 16, 4:12 PM
    I have a Relationship Manager at Santander. The only time I ever have any contact is when a new one wants to introduce himself, which is quite often.
    Tall, dark & handsome. Well two out of three ain't bad.
    • MABLE
    • By MABLE 17th Oct 16, 5:28 PM
    • 3,324 Posts
    • 1,765 Thanks
    MABLE
    • #6
    • 17th Oct 16, 5:28 PM
    • #6
    • 17th Oct 16, 5:28 PM
    I use to have one with Lloyds because in their eyes I was a special customer.
    Not sure why but she has long gone.
    • badger09
    • By badger09 17th Oct 16, 5:42 PM
    • 5,383 Posts
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    badger09
    • #7
    • 17th Oct 16, 5:42 PM
    • #7
    • 17th Oct 16, 5:42 PM
    I use to have one with Lloyds because in their eyes I was a special customer.
    Not sure why but she has long gone.
    Originally posted by MABLE
    You just weren't special enough
    • MABLE
    • By MABLE 17th Oct 16, 5:54 PM
    • 3,324 Posts
    • 1,765 Thanks
    MABLE
    • #8
    • 17th Oct 16, 5:54 PM
    • #8
    • 17th Oct 16, 5:54 PM
    You just weren't special enough
    Originally posted by badger09
    Well thats life!
    • Gers
    • By Gers 17th Oct 16, 7:14 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    • #9
    • 17th Oct 16, 7:14 PM
    • #9
    • 17th Oct 16, 7:14 PM
    I use to have one with Lloyds because in their eyes I was a special customer.
    Not sure why but she has long gone.
    Originally posted by MABLE
    Yes, my letter says something along the lines of 'extremely valued customer'. I've had a current account with them since January 1976 and have kept it on even though it's no longer my main one.
    • bigadaj
    • By bigadaj 17th Oct 16, 9:16 PM
    • 10,676 Posts
    • 6,975 Thanks
    bigadaj
    I might be too cynical but I'd be checking my accounts extra carefully for charges after that notification.
    • Gers
    • By Gers 17th Oct 16, 10:59 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    I might be too cynical but I'd be checking my accounts extra carefully for charges after that notification.
    Originally posted by bigadaj
    What kind of charges? What for?
    • redmalc
    • By redmalc 18th Oct 16, 6:35 AM
    • 1,256 Posts
    • 477 Thanks
    redmalc
    If it's anything like the HSBC Premier manager,forget It.

    I was a customer of HSBC for Twenty plus years and after visiting the Premier Manager and listening to the well rehearsed chat I advised all of my savings were in the stock market managed by myself I never heard from him again.
    Since then my mortgage was paid off and they have downgraded my account,so I moved on
    • bigadaj
    • By bigadaj 18th Oct 16, 11:53 AM
    • 10,676 Posts
    • 6,975 Thanks
    bigadaj
    What kind of charges? What for?
    Originally posted by Gers
    For providing a relationship manager and other service levels.

    It's got to be paid for somewhere along the line, not that I'm saying banks have a reputation for excessive charging and not notifying their customers, perish the thought.
    • DrSyn
    • By DrSyn 18th Oct 16, 9:33 PM
    • 423 Posts
    • 198 Thanks
    DrSyn
    Maybe I have become cynical at my time of life, I can only think of two reasons why you are now getting a "Personal Relationship Manager".

    1. You are wealthy or at least the bank thinks you are. Therefore they want to get as much of your wealth for themselves as they can.

    2. "Personal Relationship Manager" is the new term for "Sales Person". They now want to sell you as much as they can, to increase their profits.

    Either way it will not hurt to keep an eye out for charges as "bigadaj" suggests. It has been known in the past, for some banks to switch people from free current accounts, to fee paying accounts without telling the customer about the switch!
    Last edited by DrSyn; 18-10-2016 at 9:43 PM.
    • Gers
    • By Gers 14th Dec 16, 4:44 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    Just had a letter from Lloyds about providing me with a Personal Relationship Manager - don't think it's my own private counsellor or agony aunt.

    Has anyone else been offered this or even been using it?
    Originally posted by Gers
    Strangely, I received a call today from Lloyds Bank today asking me if I wanted to respond to the offer of this Personal Relationship Manager. I declined as I am perfectly capable of managing my own affairs and I now only hold a Club account and one normal one, all the others have been closed now as Vantage is gone.

    Does the call seem weird to anyone? I'm wondering about the whole thing...

    PS in edit - the conditions of a PRM are, as on Lloyds website:

    Get a dedicated Relationship Manager and additional services when you save or invest £100,000 or have £100,000 annual income.
    I have no money invested in Lloyds and don't have an annual income of £100,000.
    Last edited by Gers; 14-12-2016 at 4:53 PM.
    • GingerFurball
    • By GingerFurball 14th Dec 16, 6:13 PM
    • 945 Posts
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    GingerFurball
    Call was probably genuine.

    Those are the terms for a Private Banking Manager, you possibly qualify for their Mass Affluent relationship managers.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
    • mollycat
    • By mollycat 14th Dec 16, 7:25 PM
    • 950 Posts
    • 1,911 Thanks
    mollycat
    Also got the call today, following last week's letter.

    Politely declined. Can manage finances perfectly well.

    Does seem a bit random; although have had some big winning bets going through the account recently
    • Gers
    • By Gers 14th Dec 16, 8:01 PM
    • 5,908 Posts
    • 34,931 Thanks
    Gers
    Also got the call today, following last week's letter.

    Politely declined. Can manage finances perfectly well.

    Does seem a bit random; although have had some big winning bets going through the account recently
    Originally posted by mollycat
    My current account is now only used for Amazon purchases and not much is kept in there. The club account is fully funded and I have a club monthly saver and a normal one.

    Can't see how they have landed on me! I'm happier now that I know someone else had the phone call, thanks.
    • Shakin Steve
    • By Shakin Steve 14th Dec 16, 8:07 PM
    • 1,038 Posts
    • 759 Thanks
    Shakin Steve
    This sounds similar to the old 'come and see an advisor in branch so we can tell you if you're making the most of our services'. That was code for 'we want to sell you a medium/long term savings bond'.
    I came into this world with nothing and I've got most of it left.
    • premierfella
    • By premierfella 15th Dec 16, 5:14 PM
    • 861 Posts
    • 474 Thanks
    premierfella
    Lloyds were regularly badgering me with attempts by the Personal Relationship Manager to get hold of me (on the odd occasion that I phoned them in response, it was obvious from the response at the other end that it was just attempts to sell me things as they struggled to find a way to make a profit out of a non-borrower, non-overdraft user).

    Yesterday I got letters giving me 60 days notice of account closure - it seems I wasn't so special to them after all!
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