Do banks let you downgrade your account?

dinglefoot

Sorry, this is probably a stupid question but I don't really know much about how bank accounts work.
I'm paying just over £7 a month for a Silver account with Lloyds at the moment, which has the benefits of breakdown cover, mobile phone insurance and something to do with travelling...I used to use the mobile phone cover and the breakdown cover, but I no longer have the phone that the account covers and I sold my car a couple of months ago as we can't afford to run two cars currently.
Every time I go into the bank they try to get me to upgrade my account and have called me several times to arrange a meeting to upgrade, but I don't want to! Can you only upgrade accounts, or are you allowed to downgrade them too? And is it only Lloyds that harass you like this to upgrade? My parents are with Barclays and Santander and they've not had people hounding them to upgrade
All I want is a basic account (preferably one I don't have to pay anything for) as I don't need the add-ons anymore and that's £7-something being wasted every month!
Again, sorry if I'm being silly.

System

Either go in or write a letter to your branch and ask them to downgrade you to a Classic account - with Vantage if possible -

Watch that they don't downgrade you to a cash account as that would limit your ATM access to LTSB, Halifax, BoS and Sainsburys.

dinglefoot wrote: »

Sorry, this is probably a stupid question but I don't really know much about how bank accounts work.
I'm paying just over £7 a month for a Silver account with Lloyds at the moment, which has the benefits of breakdown cover, mobile phone insurance and something to do with travelling...I used to use the mobile phone cover and the breakdown cover, but I no longer have the phone that the account covers and I sold my car a couple of months ago as we can't afford to run two cars currently.
Every time I go into the bank they try to get me to upgrade my account and have called me several times to arrange a meeting to upgrade, but I don't want to! Can you only upgrade accounts, or are you allowed to downgrade them too? And is it only Lloyds that harass you like this to upgrade? My parents are with Barclays and Santander and they've not had people hounding them to upgrade
All I want is a basic account (preferably one I don't have to pay anything for) as I don't need the add-ons anymore and that's £7-something being wasted every month!
Again, sorry if I'm being silly.

Wheres_My_Cashback

It's your account, you can do what you want with it. Just tell them.

Moneyproblems111

Yes you can downgrade i did this with my Lloyds TSB account

Just pop into branch tell them you no longer use the breakdown cover mobile phone cover etc

Should take less then 10mins

dinglefoot

Thanks everyone, and thank you for the pointer regarding cash account Heng Leng.

jaycube

They will provide you services as you want just charge for some extra money.

dinglefoot

I went in there today and they downgraded it to a classic account for me without any fuss. Even the woman said that there's no point paying for a silver account if you're not using any of the benefits anymore