Lloyds Classic Plus 6% - is your interest correct this month?

steady__eddie

Just to confirm what AP said a few posts ago, I popped into a branch a few hours ago and was told that interest would be paid ,"By the close of business on Friday". (5th).

Ali-OK

Yes, got it similarly wrong on my account too. Phoned and not only asked Account Maintenance to sort, but aso adviser completed a complaint form for me, in which I advised that this would be posted on MSE and for them to expect another flurry of queries and complaints.

This was 1am this morning (don't ask lol)..so hopefully the centre were ready for the later calls!

Rogerb_2

chodura wrote: »

I just called them, raised an enquiry. Said will receive a response in 5 working days. At the end of the call they tried to sell additional products. I'm thinking maybe it's just a ploy to try to recoup the 6% interest paid out by getting money off 0845 calls and selling more products.

Exactly the same as my call - couldn't believe they tried to upgrade me on the day of a mistake too. You can call the non 0845 number given for overseas callers.

Biggles

!!!!!!_here wrote: »

I didn't contact them last time and I'm not planning to this time. Why waste money, that's not why I'm on MSE

Exactly. They know about it, they've said they're foing to fix it. If the missing interest was more than just a few pounds (or even pence!), it might be worth it but in many cases the cost of a pointless phone call will erase the missing interest.

Paul_Herring

How can you waste money contacting them? Simply go into a branch and 'waste' their time.

(As I did last time, and would do this time if I was actually in the UK.)

Mine's_a_guinness

I asked the contact centre to send me a written explanation of how they are calculating the interest as I still don't believe I've been paid the correct amount for July and I've only received 16p for August. They said they were unable to and I would have to go into my branch for an explanation. Knowing how useless the branch staff have been on past occasions I don't see what the point would be. I asked to be put through to someone who could explain and apparently there isn't anybody!!! If I want an explanation I can't have it in writing. This is one of the biggest banks in the country and I find the level of incompetence incredible.

steady__eddie

Totally agree with you Mag. I find it strange for the contact centre to refer you to your branch for an explanation of how interest is calculated as when I queried my August payment in branch in August, I was initially refered to a financial advisor. They informed me that it was not possible at branch level to calculate interest and if I thought that it was incorrect, then I should voice my concerns in writing. This I did and if the wheels are running smoothly then I am due for a response within the next three weeks.
Sounds like a typical case of buck passing to me. I wonder if, and where, the buck stops at Lloyds-T.S.B. ?

LittleVoice

AP wrote: »

Just been to a branch and queried this with a cashier. She disappeared into the back for while, came back with nothing and then finally said that there is a notice on the screen saying that there has been a problem with the computer system affecting interest payment to Class Plus account holders. This should be rectified by Friday 5 September, plus interest on the interest.

Haven't we heard that before?

Martyn1981

Biggles wrote: »

Exactly. They know about it, they've said they're foing to fix it. If the missing interest was more than just a few pounds (or even pence!), it might be worth it but in many cases the cost of a pointless phone call will erase the missing interest.

If you look after the pennies, the pounds will look after themselves.

I always ask for compensation to cover time and expenses, but more importantly, if people voice their complaints, then action is usually taken sooner.

You are relying on somebody else to notice this problem and report it. If nobody took action then the few pounds you refer to (for me £8 times 2 accounts) would equate to £192 during the so called bonus interest year.

You'll not convince me that investing some time at the start of a problem, in order to prevent it multiplying is a waste. Though, if this keeps happening, I may have to hide in embarrassment for a month or two

diygardener

Well - I've now phoned four times about the July interest and have 3 reference numbers for the complaints I raised. Each time it's as if I never phoned previously. I never get the promised response from them. At least I don't pay for the phone calls - EVERYONE there's a freephone number you can contact them on 24 hours a day - 0500 179050.