LLoyds TSB current account

rainbowfairydust

I have a lloyds tsb current silver account which i am charged 7.95 per month for which i don't really want to be paying, especially as i am not that impressed with their service. I am now thinking of switching to another bank and asking for a free account (i assume that you can still get a free account ). My question is can i just close the lloyds account or do i need to have had the account for a certain amount of time before i can close it.

Can also anyone recommend a fairly decent bank? as i have a dodgy credit score i am just looking for a basic account.

Thanks

paulmcerlean

why dont you keep your current account with lloyds but change it to classic where you dont have to pay a fee? means you wont lose the full current account privilege by moving to basic account.

rainbowfairydust

paulmcerlean wrote: »

why dont you keep your current account with lloyds but change it to classic where you dont have to pay a fee? means you wont lose the full current account privilege by moving to basic account.

when i took out the account (think it was last july, i didn;t get offered this option. I presume this is coz of my awful credit score plus in i have had quite a few hassles with lloyds since i opened my account. None of these hassles are anything to do with me as i have kept my account in credit since i opened it.

Jock_Tight

Also with the classic account you can upgrade to Vantage.

If you have £1k coming into the account each month (does not have to stay there) you can make 4% on balances between £5k-£7k, 3% on £3k+, 2% on £1k+

paulmcerlean

if you are entitled to a silver - you are surely entitled to a classic - the silver is the same account but packaged.

princesspinchie

I have a terrible credit rating and I have a Classic account with Lloyds TSB

jonesMUFCforever

rainbowfairydust wrote: »

when i took out the account (think it was last july, i didn;t get offered this option. I presume this is coz of my awful credit score plus in i have had quite a few hassles with lloyds since i opened my account. None of these hassles are anything to do with me as i have kept my account in credit since i opened it.

If you were not given the option of a classic or even a basic account - then the silver was missold to you.
I would ask for all the service charges to be refunded.
You do this by asking for a leaflet 'How to voice your concerns' and phone the number to register a complaint.

fablad75

jonesMUFCforever wrote: »

If you were not given the option of a classic or even a basic account - then the silver was missold to you.
I would ask for all the service charges to be refunded.
You do this by asking for a leaflet 'How to voice your concerns' and phone the number to register a complaint.

I wasn't aware of this. Is it a regulation that they must offer you a basic account while trying to promote their packaged accounts? Because I've been to quite a few banks where they've only tried to sell their fee-paying products to me.

JMW77

I have the classic current account but i am constantly asked when i go in branch would i like to upgrade to a better account luckily for me i know its a fee paying account .
Why would i want to pay for an account when i can have one for free,i know you get a few things thrown in like breakdown cover etc,but there is nothing worthwhile that makes me interested in paying the fee.
Don't know how easy it is to go back to the classic once you have ungraded,i bet they would makeit difficult,they want everyone paying a fee.

jonesMUFCforever

fablad75 wrote: »

I wasn't aware of this. Is it a regulation that they must offer you a basic account while trying to promote their packaged accounts? Because I've been to quite a few banks where they've only tried to sell their fee-paying products to me.

It certainly is!
They have to treat you fairly under the new Banking code.

jonesMUFCforever

JMW77 wrote: »

I have the classic current account but i am constantly asked when i go in branch would i like to upgrade to a better account luckily for me i know its a fee paying account .
Why would i want to pay for an account when i can have one for free,i know you get a few things thrown in like breakdown cover etc,but there is nothing worthwhile that makes me interested in paying the fee.
Don't know how easy it is to go back to the classic once you have ungraded,i bet they would makeit difficult,they want everyone paying a fee.

It is not difficult - you sign a form and then it happens - how simple is that?