MSE News: Lloyds halts packaged current account sales

Chrisblue1962

Packaged Accounts

Like with any goods or service...Caveat Emptor i.e. Buyer Beware.

StephenM_2

Mobeer wrote: »

Travel insurance is a big benefit with some accounts. 2 adults annual cover when aged 70+ can easily be £120 each even in good health, which if would be equivalent alone to £20/month fee on a shared account that includes travel insurance.

The travel insurance on Halifax's URCA has a maximum age limit of 70.

Mobeer

StephenM wrote: »

The travel insurance on Halifax's URCA has a maximum age limit of 70.

Always a good idea to read the T&C - I was thinking of another bank that covers older customers.

jpb77

So they halt packages in branch? They approved me for a Premier account today and confirmed my Premier Debit Card has also been approved and ordered with a £500 o/d facility. They must be desperate for my £25p/m fee lol.

yorkgeordie

Well what a shock.... This means that those Lloyd's customers who are in a Verde branch will not be able to get a paid for account if they try to move Branches..Lloyd's are running a massive interference campaign to try to thwart those people trying to stay with Lloyd's

Sir_Alan

I have a packaged account, but only because it was free as a bank employee (and now bank pensioner). The mobile phone cover would probably be handy if only I had a phone worth more than the (fairly modest) excess; the travel insurance would be good if I did not have diabetes and high blood pressure - the surcharge for that is more than I would pay for a policy bought elsewhere; the free breakdown cover is a good thing, other than being duplicated by my car insurance.

The only part of the policy I have actually used is the Home Emergency cover, which saved me a mint when I had a water leak one evening. Alas, I have just been advised that this cover is to cease in the New Year as it is apparently not used by sufficient customers to be worth offering!

As others have stated, a packaged account is not automatically a rip-off: it depends whether you actually need sufficient of the benefits offered every year - not just the first year - to save money on what you would pay for them elsewhere.

Former_MSE_Sally

Hi phoebe1989seb,

Well done on your successful reclaim! Would you mind telling us a little more details about it? Would be great if you could PM me!

Thanks

MSE Sally