MSE News: Lloyds launches Everyday Offers cashback: Is it any good?

Koios

Just logged into my online banking, and the offers seem great. I never even knew it existed and seems I've been auto-enrolled. But the 20% cashback offer at Morrisons is nice...

Violet123

Since I've activated the offers I've had a maximum number of 4 offers available at the same time, with 3 or all totally unusable to me - ie stores I've never been to. I don't know how the bank allocates the offers to clients but in my case it's a completely useless thing. And I can't see the It's on Us offer at all, so it's even more useless.

chrisfreelander54

I had quiet a few good offers which I have used including Argos@10% and Play.com@10% which I used at Christmas.

I have looked this morning and have an offer for Homebase@10% which is all well and good but I use B&Q as I find this much cheaper.

The only thing in can find in Homebase at a good price is a dining table and chairs but unfortunately out of stock at present.

iAMaLONDONER

I'd rather they paid higher interest rates than these 'offers' which so far haven't impressed me at all!

anna42hmr

iAMaLONDONER wrote: »

I'd rather they paid higher interest rates than these 'offers' which so far haven't impressed me at all!

the offers are not great as i have found the variety of shops to be no good for me, but I do not understand what you mean about them paying higher interest rates, lloyds pay a lot better than many current accounts by simply adding vantage to the account. (3% for 5K)

Gromitt

iAMaLONDONER wrote: »

I'd rather they paid higher interest rates than these 'offers' which so far haven't impressed me at all!

Well they did they give you 4% last year and its still 3% this year for an account with instant access to your funds, much better than a lot of other bank accounts. However, they just meant people stuffed money in there and left it and they want to get people spending.

innovate

I am still not seeing any offers on my accounts, most likely because I have never used any of my Vantage debit cards. I must say, I find it astonishing that they only make offers to existing spenders, and not also to people whose accounts have been filled to the brim for the last few years.

I would be quite happy to consider spending from my Vantage accounts if they had o ffers that beat my Nationwide, AMEX and 123 cashback credit cards. As it is, they, and their retailers, seem to have put me in the "non spenders, don't even bother" category. It doesn't bother me particularly that I don't have any of these offers but I find it weird that neither Lloyds nor their retailers appear to be interested in people who have not used their disposable funds in a while. May be they know they can't beat cashback credit cards in the long run?

iAMaLONDONER

Gromitt wrote: »

Well they did they give you 4% last year and its still 3% this year for an account with instant access to your funds, much better than a lot of other bank accounts. However, they just meant people stuffed money in there and left it and they want to get people spending.

anna42hmr wrote: »

the offers are not great as i have found the variety of shops to be no good for me, but I do not understand what you mean about them paying higher interest rates, lloyds pay a lot better than many current accounts by simply adding vantage to the account. (3% for 5K)

I meant higher ISA (or even basic saving accounts) rates!

Gromitt

iAMaLONDONER wrote: »

I meant higher ISA (or even basic saving accounts) rates!

I know what you meant, but even if they did increase savings account rates by a whole 1%, they would still be no match for current accounts.

Considering you can stash £85K away at 3%, I wouldn't have thought most people would care about basic savings accounts, and those with more than that I'd expect to have investments or for short terms solutions.

Clayhanger

We have had a joint account with Lloyds for over 30 years. I signed up for the everyday offers and shopped at Morrisons and Waitrose within the specified periods to earn 15% and 10% respectively. Total due was just over £16.
When this did not appear in our account I telephoned them to find out why. I was informed that it was because my wife's debit card was used and not mine. I argued the fact that it is a joint account but to no avail. Even a so-called manager in their Glasgow call centre just parroted about not following the "terms and conditions".
Do they have no idea of the meaning of a joint account?
Do they have no idea of customer service?
Obviously, they are not interested in retaining long-standing customers.