gold bank account

blossom_tree

I have a bank account with lloyds tsb gold account, before that it was something else, and before that select account for over 15 years. I thought these were the norm, everybody had one. Told many yeas ago, it would help gurantee our overdrafts, which believe me we have used. Also used the phone insursnce, refused us when we wanted to use travel insurance. Its only since reading your article that we were mis sold, but each year they try snd make us hsve an up grade to aso called better account and bigger fee for us to pay. Have we been mis sold, we really dont need it. But used the mobile insurance. Thought it was the norm to have this account. Very confused. Should we cancel? Can you help.

meer53

Why do you think you were missold ? Bit hard to say that if you've used the insurance. You could always have refused to upgrade.

leclerc

blossom_tree wrote: »

I have a bank account with lloyds tsb gold account, before that it was something else, and before that select account for over 15 years. I thought these were the norm, everybody had one. Told many yeas ago, it would help gurantee our overdrafts, which believe me we have used. Also used the phone insursnce, refused us when we wanted to use travel insurance. Its only since reading your article that we were mis sold, but each year they try snd make us hsve an up grade to aso called better account and bigger fee for us to pay. Have we been mis sold, we really dont need it. But used the mobile insurance. Thought it was the norm to have this account. Very confused. Should we cancel? Can you help.

I do not think it is misselling but you can downgrade to a non extras and therefore a "free" account. If you have used some of the benefits it's difficult to see misselling...

Macca83_2

You don't really need the account but yet you've used the mobile phone insurance!?

Did you get a preferential rate on your overdraft that you used too?

Sue27_2

blossom_tree wrote: »

I have a bank account with lloyds tsb gold account, before that it was something else, and before that select account for over 15 years. I thought these were the norm, everybody had one. Told many yeas ago, it would help gurantee our overdrafts, which believe me we have used. Also used the phone insursnce, refused us when we wanted to use travel insurance. Its only since reading your article that we were mis sold, but each year they try snd make us hsve an up grade to aso called better account and bigger fee for us to pay. Have we been mis sold, we really dont need it. But used the mobile insurance. Thought it was the norm to have this account. Very confused. Should we cancel? Can you help.

Just to add to this, I've had problems with the travel insurance on my Lloyds Account too. I got the travel insurance as part of my gold account, but didn't realise until I went to make a claim that there was a "price" in terms of making a claim in that the level of cover proved to be much lower than if I had taken out independent insurance and the claims experience was very difficult. I've heard people say the same about phone insurance on packaged bank accounts. I woulnd't necessarily go as far as to say I was mis-sold as I used the insurance (so I wasn't mis-sold any more than I am with any of my insurance policies that are hard work with claims) but I agree that it is frustrating and I would warn people to think seriously before using packaged accounts for insurance (it might be worth spending a bit more and getting 'better' cover). I've written about it before on here so won't repeat my actual claims experience but if anybody is interested in it, it is under Sue's Insurance Review (under Lloyds).