Eligible for "upgrade" on Lloyds Basic Bank Account

ironlady2022

united66 totally agree!

jonesMUFCforever

You can upgrade from basic cash account to classic without any charges whatsoever as long as you stay in credit.
Your account number will stay the same and you get a new debit card which will work everywhere.

teffers

Just keep in mind that just because they say you're 'eligable' to apply for an std current account, and as I think you rightly suspect, it doesn't mean that you will be accepted until you've gone through the application process, again.

They imply, in my experience anyway, that you've ticked some magic box in the way you've run your basic account, and now as a result you can join the everyone else on the sun loungers with a normal account - in reality it's just that they've seen you have a basic b/a and have a salary being paid in, therefore you're an opportunity to upsell.

Good luck if you end up going though, fingers crossed for you.

[Deleted User]

'eligible' doesnt always mean unfortunately you can get current acc
might turn round and say no last minute

maddocks_2

teffers wrote: »

Just keep in mind that just because they say you're 'eligable' to apply for an std current account, and as I think you rightly suspect, it doesn't mean that you will be accepted until you've gone through the application process, again.

They imply, in my experience anyway, that you've ticked some magic box in the way you've run your basic account, and now as a result you can join the everyone else on the sun loungers with a normal account - in reality it's just that they've seen you have a basic b/a and have a salary being paid in, therefore you're an opportunity to upsell.

Good luck if you end up going though, fingers crossed for you.

I don't believe you can have the "add-on" (insurance, monthly fee things) stuff on the Basic Bank Account with Lloyds. If you know otherwise let me know - that's a handy titbit of info to have for the future.

I haven't had a credit search on my record since 2007 (I just stopped trying to find credit and relied on friends/partners for mobile phones) so I don't mind if they do it again in the appointment and it says no. I did however have a tenancy check recently with Romans and passed fine (£550/month rent), but I believe their scoring and checking is all manual.

It's worth a shot anyway going: I'd love to have a chequebook, was a massive pain as a student paying fees without one. I'd also like to be able to withdraw cash while on holiday: currently I can pay by card but since there aren't many lloyds cashpoints outside of the UK...

maddocks_2

From the range of responses I've had it seems I'm as conflicted as I was!

I think I'll go anyway. I don't want any add-ons as I have contents insurance for my mobile phone, the mister has RAC cover already through his account (Barclays) for which I'm covered for, and his account also covers my travel insurance. So it makes little sense to duplicate cover unless my circumstances change. So if I want anything, it would be a normal current account but with no overdraft or extras: just a chequebook and a debit card that works in non-lloyds cashpoints. At least then it counts as an account on my credit record and I can start building a history up.

If they search my file and say I'm not eligible for a normal current account yet, then that's fine - at least my curiosity is satisfied for now. My income easily covers my bills and allows me to save a little so I can keep doing that and look at other ways to build my credit rating so I can possibly have a mortgage in the next 6-10 years :-)

mrtaximan

Hi all.Just for reference Natwest will not upgrade a step account even after you get your AD after six years and hold a first class Credit rating be warned.If you opened a Step account post BR and run it correctly for 5 years after discharge you would expect them to upgrade you to a proper account.Indeed i have a letter from Fred Goodwin old CEO of Natwest stating that if the account was conducted in first class order a upgrade would be sanctioned after AD.Well folks he told porkys.He has now gone the same way as my old Step account.Bye Bye Natpest and hello Barclays who have gone the extra mile to help.

Mark :D

Dr_Cuckoo3

united66 wrote: »

With most banks when you have a 'Basic' bank account with them such as myself. You do have an internal score just as full current account customers do

At which bank do you hold a 'Basic' bank account ? and what is your internal score on your 'Basic' bank account :question:

maddocks_2

Appointment was cancelled due to staff sickness. Have rebooked for next weekend, will see how it goes.

Interestingly, I got a duplicate sales call on the Friday but I couldn't respond then. I must be on their "sales list" :-)

[Deleted User]

yeah you probably are
they prob need a lot more customers on their 'Vantage' account :S