Lloyds debit card and there cashpoints.

noh

KTF wrote: »

Who is the 'someone'? Why not call them up or go into a branch and ask?

Or read the T+Cs you agreed to when opening the account.
Or look at their website?

http://www.lloydstsb.com/current_accounts/cash_account.asp

simax

I've got a Silver account. I've a nice chunk of disposable each month. I have 3 growing savings accounts. I'd like the flexibility of a credit card. Lloyds TSB says no. So it's not just Cash Account customers that lose them money, it's regular account customers too!

opinions4u

stclair wrote: »

with todays competitive market of bank accounts etc you think they would lift the stupid using a lloyds only ATM policy.

I wouldn't have thought it's a market that you'd want to be competitive in.

Basic bank accounts have many of the costs of "normal" bank accounts, without the potential to profit from sales of other financial services.

Granted, a small percentage of customers do progress to a more traditional banking relationship, but most are destined to remain in a basic bank account - either through their own lack of sense when it comes to money or through genuine circumstances that restrict their abilities.

When a customer sticks their card in to a competitor's ATM money changes hands. My figures are probably out of date, but I recall something like 15p for a high street ATM and 30p for a supermarket ATM being the correct numbers.

A typical basic bank account has a very low average balance - less the £200. With an interest margin of 2% it's hardly a great money spinner. A customer who withdraws from a Tesco cash machine every week costs that bank £30 a year on top of the the other running costs of maintaining the account (one of which is that a percentage of these customers a significantly more likely to lose their card regularly, which then has to be replaced).

While I don't agree with Lloyds TSB's approach to restricting ATM withdrawals to their own machines, there is sense to it. The Easy Cash savings account workaround suggested above is a good idea. Alternatvely get an account elsewhere.