Lloyds TSB Increase Charge for Select Account

WPC

I have received a letter from Lloyds TSB to inform me that of the 1st April 2009 the account charge will increase from £7.95 per month to £8.95.

The select account charge gives you AA Breakdown Cover - Value according to Lloyds is £77 (£79.50 from 01/04/09)

International Mobile Phone Insurance

Save my numbers (telephone numbers stored on Mobile telphone if lost)

Sentinel Card Protection - will cancel your credit cards/ store cards / debit cards if stolen or lost

Interest free Planned overdraft of £50

Lloyds TSB Airmiles travel service - 6.5% discount through the Lloyds TSB Airmiles Travel service.


I only really take advantage of the AA coverage. Out of interest I contacted The AA and they have offered me Roadside covereage for £40.40 for 12 months with £20 M&S vouchers.

I mentioned that my Father is covered by The AA. They asked me for his membership number and said that he would receive £15 M&S vouchers and so would I. Therefore I will have £35 in M&S vouchers. Intotal my AA coverage cost me in total £5.40 :T

I have typed my letter to LLoyds to say "THanks but no thanks" I now want a bank account that is FREE.

andy208833

I have a Platinum account with Lloydstsb and they charge me £17. Like you i only use the AA cover but having read this am going to change mine to free account. My daughter is in AA so hopefully i can get same deal.

jemimapd_2

I also received this and phoned them up and said I wouldn't pay the extra so they could cancel it - so instead they offered to freeze it at the old price for the next six months. At the old price I do benefit from the cost of AA coverage and card protection - at the new price I wouldn't - so I will shop around in 6 months - so if anyone reading this has a select account my advice is to phone them up and threaten to cancel!

david39

I have a LLoyds Platinum account and they charge me £12 per month. This includes holiday insurance which, because I am over 65, would cost me more than £144 for 12 month's cover.
I only pay the £12 to get the travel cover - the rest of the freebies are of little interest or value to me, though I occasionally dip into the free overdraft facility.

busiscoming2

We used to have a select plus account, I resented paying for the privilage and only used the AA benefit. A couple of years ago I compared their accounts and changed to the classic plus which is free to run - as it shoul be. I also spoke to the AA and they did a good deal as we had been with them for a number of years. In fact I'm sure I remember it actually cost less in the long run.

Chrysalis

if someone with an overdraft limit cancels the select and reverts to classic do lloyds automatically revoke the overdraft limit? the overdraft limit is way higher than the £50 so it isn't immediatly obvious if its linked with the select account status.