Lloyds Premier Account - Moving back to classic

Zebedee69

Hia!

I just realised looking at my account im paying £10 a month for "Premier" services. As far as I can see its a waste of money.

I rang up Telephone banking - they say you need to go into bank.
I tried internet banking - not sign of a button to downgrade but plenty of buttons for upgrading:rolleyes:

So looks like im off to the bank - does anyone on here know if there are any other problems im gonna have. Im in overdraft at the moment (Only for a week though, it costs way too much!!!).:beer:

chesky369

Do you have an agreed overdraft limit with the present account? If so, will it be transferred if you have an ordinary account?

iceicebaby

Hiya

I downgraded my select account back to a classic account as I was not making use of the "benefits" i was paying for. They just transferred my overdraft too, but that may not be the same in all cases.

The only thing you may lose is the preferential rate on your overdraft that the select and premier accounts attract.

GjrBartlett

Good Morning,

Strange as it seems.... I've just had an account review with LloydsTSB this morning at my nearest branch in Dundee.

I currently have a Platinum Plus account which I have just downgraded to a Classic Plus, Just had to sign a form which they filled out for me, so fairly straightforward & the staff were more than helpful, however as the branch I went to is not the branch where I opened the account many years ago, they will have to fax the form to them, so may take a few days to get actioned...

I explained that for paying out £180 a year in acc fees, I could get the benefits they offer cheaper elsewhere.

They also confirmd I would be sent a replacement Debit Card.

So i'd defenitely recommend switching & as we know Martin's not a big fan of accounts that charge fees!

Kind Regards

GjrBartlett.

juliejim

I downgraded by account with no problems - kept my overdraft limit and everything the same.

TOBRUK

Zebedee69 wrote:

Hia!

I just realised looking at my account im paying £10 a month for "Premier" services. As far as I can see its a waste of money.

I rang up Telephone banking - they say you need to go into bank.
I tried internet banking - not sign of a button to downgrade but plenty of buttons for upgrading:rolleyes:

So looks like im off to the bank - does anyone on here know if there are any other problems im gonna have. Im in overdraft at the moment (Only for a week though, it costs way too much!!!).:beer:

SNAP! I don't believe this has been posted today, as I am in exactly the same position!!

People here will probably think I am a little dull but here goes ... a couple of days ago it was on the news that before long 'FREE BANKING' will be the thing of the past, and I thought this was strange, why? Well yesterday my sister visited and I told her about this and said that I was paying an account charge every month - she could not believe it and said she had never paid account charges.

In 1998 as I had moved into an area where there was only Lloyds tsb bank in the village, (and I at the time was with HSBC) I decide to make things easier I would open a current account there. When opening a new account I wasn't made aware of different current accounts available ... I just gave my details and signed the forms.

After speaking to my sister yesterday and looked up their website I discovered that my current account had a £10 a month account charge with benefits included such as AA breakdown cover - I have been paying RAC membership all along :mad: Worldwide travel insurance - I haven't been abroad and hardly leave the house through ill health :mad: :mad: Anyway, I found there was a classic account - free banking account!!!:mad: Something that was never mentioned when I opened an account!

Since opening the account until now, I have paid around £1000 in account charges, for something I never made use of. I stupidly believed that everyone paid bank account service charges! I am so angry with myself that I was so stupid!

Seven years ago I had to leave work because of my health, and it has been a struggle ... every penny counts, and I have been paying all this money out ... for nothing. I have an overdraft facility and sometimes I do creep into it, and last year I went into the bank as they wished to review my account and to decide if I should keep the overdraft facility .... not once did they mention downgrading my account - knowing my situation ... disabled ... and chronic condition :mad:

A few days ago I had a letter asking if I wished to upgrade my account!!:mad:

This morning I did phone and was able to downgrade to classic account, and the person I spoke to was disgusted at the way I had been treated and said I should complain, but it would be my word against theirs I said, but she thought I should complain. I am just so mad ... perhaps £10 a month isn't much to many but to me it makes a world of difference.

tiff

We are thinking of downgrading too, the only reason we havent was because we had a very large overdraft, which will be completely cleared on Wednesday. So I can downgrade to a classic account, and still have an overdraft facility if required?

Its a no-brainer, Lloyds travel insurance won't cover my DH and DD due to heart conditions, we take out an annual policy elsewhere for £120, the same amount I pay a year for the Lloyds Gold account!

brindles01

That's how they sell these accounts - by adding on extra benefits to lure you in. But nowadays it is so easy to shop around for savings on all the benefits offered that it makes no sense to go with these 'charged' accounts.

Tobruk - I would definately have a go at complaining about the way the account was sold to you. In for a penny and all that?

changkra

I knocked my account with Loyd's down to a classic account last summer, can't remember the exact date, I didn't lose my overdraft either. You don't have to go into the bank to do this you can phone the phone banking and ask to be put through to your local branch and they will do this over the phone, this is what i did.

TOBRUK

brindles01 wrote:

Tobruk - I would definately have a go at complaining about the way the account was sold to you. In for a penny and all that?

Well the woman I spoke to who downgraded my account over the phone really thought I should complain and she put me through to complaints ... the woman there was a nasty piece of work, she was saying that I would have received a welcome pack explaining everything ... I really could not get it through to her that it wasn't the actual account I was upset about but that I was not made aware of any other current account. Anyway she said she would log the complaint and I would receive a letter in about 5-7 days! I never raised my voice at any time but she was really aggressive.

I shall have to see what they have to say, but I have a feeling that it is just one of those things I shall have to learn from!