Lloyds TSB current account any good?

Walletwatch

Just received a pre-opened current account with a £1000 overdraft ( not interest-free though ) from Lloyds TSB.

Was wondering if there's some inherent benefit (good rates, customer service, etc) associated with them, else will not take the trouble of opening the account. We (Mrs WW and I) already are promiscuous enough on the Banking front, with relationships with egg, ING, Citi, Abbey and Halifax.

Any info would be helpful.

Cheers
WW

johnllew

Worst customer service going. If there's no clear benefit to you, stay away.

mary

Have had a current account with Lloyds since about age 4 (50+ years ago!). Never had a problem.

However I also hold, Egg, Ing, Cahoot, Halifax and find the first two to be extremely efficient and sites very easy and clear to use.

Walletwatch

Another addition to my initial query - do you think I can get the overdraft amount reduced to a lower, but interest-free one?

mary

Pass! Don't know the answer to that one. You can but give them a call and ask. You should be able to reduce an overdraft amount, in the same way you can ask to increase it. By the way what is a "preopened account"?

Walletwatch

It's something I came up with Just received a mail from them with a letter offering a current account with an overdraft (which got me interested), also proposing to match my overdraft limit with my current bank. They've also sent across all forms to fill in for it, along with the transfer dox (but those are not mandatory, nor do I intend switching)

Walletwatch

Ohh, and also, pre-opened because, it came with complete info, down to the sort code and account number that would be allocated, if I were to go ahead with opening the account.

omega27

Myself & wife opened a joint Premier Plus account the other week with LloydsTSB. Switching from Cahoot - over the past year they've been pretty good, but there has been major problems with their www site recently. Stopping me from loging on with Safari was the final straw, and they've done nothing to fix it.

Also switching a HSBC account, as the only reason we opened it was to cash a joint cheque. Interest rate is not worth bothering with. Also problems with the delivery of a new credit card, took 3 months to deliver it to the right branch.

Lloyds were fantasticly helpful, and everyone I know who uses them only has good things to say. And £15/month for full AA cover, 2 mobile phone insurances & worldwide travel insurance has saved us a fortune. No call-centres in banking hours - got the direct mobile & phone numbers for my banking manager!

Interest rates aren't bad, www site is fairly simple & works with any browser, service so far has been fast & efficient. We'll see how the account transfer goes, I've moved salary, mortgage & car loan myself but left them the rest.

I think you get a 0% overdraft on any of the 'Plus' accounts, but have to pay a fee. Depends if the extras are worth it to you?

blinko

been a lloyds customer for over 10 years now never had a problem with them, there rates arent great but they arent shizer either.

best products are internet savings account which is nice and simple to use and there ISA isnt to bad at 4.9 % if you have £3000 + in it.

Walletwatch

Walked into the branch, and gave in the necessary documents for opening the account - also asked him to upgrade it from a Classic to a Classic Plus - but was aghast at his abysmal levels of knowledge of his own Bank products - anyone know how much I need to put in on a monthly basis to avail of the higher interest rate applicable to Classic Plus?

Also, am I right when I say I can put in the money and immediately transfer/withdraw it out?

apcorbett

Just opened a new account with them, and within three days had everything I needed:

Cheque Book
Paying In Book
Visa Debit Card
£800 overdraft
Internet Banking
£30 credit on my account
Direct Debits/Standing Orders transferred

So far, so very good!