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Lloyds just get worse with the hard sell
Comments
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My grandfather was mis-sold a similar product - he had no use for many of the benefits, and wasn't fit to travel abroad, but was lead to believe by the branch that it was worthwhile. We received a sizable payment after his death to reimburse the costs he had paid.
Always worth checking the terms of the travel policy - my father worked in insurance, and most of the policies have an upper age limit.
My mother also got a large payout from Barclays over misselling of unsuitable products.
She also got £200 and a bunch of flowers as an apology.
Whenever getting an apology from a bank btw.....always insist on getting money back from them by way of said apology....it is the only language they understand.
If this thread makes even just one customer sit up and see that they've been strung a line then it will be worth it."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
pinkfluffybabe wrote: »Lloyds are a nightmare for this. I take my cheques into Nationwide now as they never bother me about anything.
They certainly are. It's encouraging to know that all banks aren't like this. I know staff at Lloyds have really tough selling targets to meet, but don't know if they are rewarded by commission.0 -
Yes.
Then surely you can understand a savings account would not save a customer money but make them money through more interest.
Not at Lloyds pitiful rates of interest they wouldn't. There are many better rates at other financial institutions, but I'm not expecting Lloyds to recommend them - apart from Scottish Widows perhaps!
PS It appears I'm doing nothing but moaning about Lloyds, but to be fair, I have banked with them for years, and they made few mistakes. I am happy - apart from this ruddy hard sell!0 -
Yes.
Then surely you can understand a savings account would not save a customer money but make them money through more interest.
Saving money has the same effect as making money. End result - you are better off."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I got my family travel insurance for £40 worldwide. There are 5 of us. If you need help shopping around, then try the main insurance boards. If you are getting quotes for£250 then you are for sure looking in the wrong place.
If your overdraft is only for emergencies only, then the interest that you would accrue on a standard overdraft is only a few quid (especially if you've only got an overdraft of £250).
A bank will package this all up and then call it "Platinum" and tell you that you are especially selected due to your credit rating (when the reality is that they're just trying to play on any mug punter who they think they can get some money out of them).
Breakdown cover cost me £25 this year (but that was for extra relay and homestart cover). If I'd just gone for breakdown, it would have cost £5 for the whole year.
If you think that you are not being ripped off then fine - keep telling yourself that. But I'm sorry to say the reality is that they've seen you coming, packaged it with a shiny silver-coloured piece of plastic and you've swallowed it - hook line and sinker.
Thanks for this Mrcow. I am stunned that you can get a travel insurance worldwide for a family of 5 for only £40!!! What is the excess amount for each claim as each policy varies. And could you give me info where i can find this? I know someone who's brother is a pilot for an airline and his family members can have travel insurance worldwide for £30(per person)per year but with family this would be alot more. However, I do previously have mobile insurance costing me £10 quid a month (for latest expensive blackberry curve) so thats £120 quid a year and then to include travel insurance of £40 quid at best costing £160. And then there is AA breakdown £25 quid a year at most...so at best it would be in the region of £220-250 if you take into account the benefits i get as a platinum holder with free (no £1 charge) purchases aboard using the platinum card (excluding 2.99% conversion exchange rate).
I know Nationwide is the best one for this but I only got a cash card and sometimes it is not ideal to use the ATM. It looks like I am not being ripped off in any event, maybe it cost me an extra £25 quid at best worse off per year but then again, i still have all it in one package! You do have a valid point in above quote that banks are there to make money.
I got a good credit history and had to credit scored in my application to be accepted to be able use the platinum card. I don't think if i had bad credit history i will be eligible. If banks are doing this to accept more customers with bad credit history then that would be damaging.0 -
Okay, I'll just tell you then that my sister in law was sold a "platinum" account by Lloyds TSB. She has an absolutely shocking credit rating, was having her mortgage bounced every month and was being charged £30ish each time for it and when I told her to cancel the £12 per month charge, they refused to accept the cancellation on the phone and insisted that she wrote in (she tried to cancel on the phone but the sales person on the other end wouldn't let her get a word in.....the trouble is that she's not as confident as some of us and people like this run rings round her). They didn't care about her credit worthiness......just what they could make out of her.
My travel insurance was through moneysupermarket.com. I can dig out the details if you like but there are loads of differing packages on there and you can play with whatever excesses etc you like (I think our excess is £100 so it's a lot if you have one item lost, but it's fine for medical expenses or curtailemnt etc).
Our breakdown cover is with Green Flag. Cost £25 for breakdown but you can get £20 cashback through Quidco so it costs a fiver for the year.
I don't have mobile insurance as I only have PAYG and top up by £10 at a time so insurance would be pointless. Bet you can get it for a lot less than £10 per month though?
Also, when buying things abroad, I always use my 0% for purchases credit card as it offers better buyer protection for no extra cost and they don't charge a transaction fee.
It's up to you of ourse, but I'd certainly look into whether that £17 per month is better off in your pocket than theirs?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I will point out being a Nationwide customer as well as Lloyds....
I have been sold to at Nationwide counters as well as Lloyds, maybe not to 'upgrade' my account, but I have had the insurance, mortgage (which I already have with them) and savings accounts hard sell.
Nationwide are normally quite good, but unfortunatly I lost trust in the telephone banking when I got passed from dept to dept trying to answer one very simple question about a year ago.
So I now have a Premier Account at Lloyds (on a special fee deal) and for me it is totally worth it, I use all the benefits and have saved money. BUT it is not for everyone, and if you don't use it, it does work out very expensive.
I would agree with the mis-selling of all value added accounts from every bank. When I worked for Barclays the Additions account was always mis-sold, and some accounts got upgraded without people knowing!These are my thoughts and no one else's, so like any public forum advice - check it out before entering into contracts or spending your hard earned cash!
I don't know everything, however I do try to point people in the right direction but at the end of the day you can only ever help yourself!0 -
Your car breakdown sounds like level 1, with packaged accounts you can get anything up to level 4 covers (ie: taking you home from anywhere in the UK, homestart, etc) with the top Lloyds accounts looks like you do get that. Just felt I had to point that out to allow more accurate comparisons!!Our breakdown cover is with Green Flag. Cost £25 for breakdown but you can get £20 cashback through Quidco so it costs a fiver for the year.
I don't have mobile insurance as I only have PAYG and top up by £10 at a time so insurance would be pointless. Bet you can get it for a lot less than £10 per month though?
Also, when buying things abroad, I always use my 0% for purchases credit card as it offers better buyer protection for no extra cost and they don't charge a transaction fee.
It's up to you of ourse, but I'd certainly look into whether that £17 per month is better off in your pocket than theirs?Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Quite often, yes. However, it didn't really bother me as they just stopped the sales spiel when I said I wasn't interested. However, if they did phone me up wanting to sell me stuff, I'd have been annoyed (as I've told them not to contact me to sell stuff by phone).Were you asked EVERY time?0
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