Refused Lloydstsb Classic - will they upgrade?

bankhelp

Hi, I applied for the Lloydstsb classic bank acc.
got a bad letter today say sorry cant offer me this. but have set up a 'Cash card account' inc.visa debit. They already setup my sort codes just need to take i.d. to branch.

I wasnt gonna bother coz looks too basic like can only use their ATMs and stuff (tho theres at end of my street lol). but then read on terms letter: -- We may in future review your personal circumstances and if you are eligible convert your account to a Classic account (or similar account if it is no longer available) which offers more services --

............so me not sure wot to do. do u think they just say this or has anyone on here been upgraded. would get my wages paid in every month but how long will all this take like couple of yrs or somethin?

coolmumh

Hiya

I had a step account with Nat West and then they upgraded me to current account after 12 months as I had proved i could manage my money. To be honest tho its very little difference as the only changes when they upgraded was that I had a chq book (which I only use for paying school stuff now) and a £50 overdraft buffer.

bankhelp

thanx coolmumh

did u like have to ask natwest to upgrade u? or did they do it automatically by a letter. may go for this thing after all..

knightfox

From what I have heard. They dont upgrade you automatically however if you are in the branch and they see that your Natwest points are high enough they offer for you to apply for a new account.

You could always apply for a current account after having the basic account for about 6 months. Its up to you to decide what to do.

JacksterD

bankhelp wrote: »

Hi, I applied for the Lloydstsb classic bank acc.
got a bad letter today say sorry cant offer me this. but have set up a 'Cash card account' inc.visa debit. They already setup my sort codes just need to take i.d. to branch.

I wasnt gonna bother coz looks too basic like can only use their ATMs and stuff (tho theres at end of my street lol). but then read on terms letter: -- We may in future review your personal circumstances and if you are eligible convert your account to a Classic account (or similar account if it is no longer available) which offers more services --

............so me not sure wot to do. do u think they just say this or has anyone on here been upgraded. would get my wages paid in every month but how long will all this take like couple of yrs or somethin?

It seems you might be limited to basic banking for whatever reason, at least for a little while, so it might be worth going with someone like Natwest who give you a fairly full featured basic bank account as opposed to LTSB who's account is fairly limited.

iereboy

They gave you the cash account cause you did not meet the criteria to have a full account. Did you have any problems in the past with credit?

They MAY upgrade you after 6 months. If there is loads coming in and you have not gone overdrawn and keep fairly large balances, this will work in your favour.

Get an easy saver account which you can use at any cash point.