MSE News: New Club Lloyds current account offers 4% interest – should you sign up?

Lloyds_Bank

johnsusan wrote: »

Hope someone can help. I have received my vouchers from Club Lloyd's. How much credit do they give me against a live performance event? I am looking at a Met opera performance instead of a standard cinema viewing. Also can I do this online?

Thanks

Hi johnsusan,

Live performance screenings are classed as Event Cinema and the Club Lloyds vouchers can't be used for those. Detailed info can be found in the terms and conditions.

If you do decide to use the vouchers for another type of screening, they need to be exchanged for a ticket in person at a Vue Cinema.

Thanks,

Craig

spluff

I just spoke with Lloyds representative on phone and I will lose my benefit of my Platinum account to change to Club Lloyds.. She recommended opening a new club Lloyds account.


If I did this and moved my monthly salary from my Platinum to the club Lloyds would this fulfil the monthly requirement of £1,500/month


Many Thanks

Lloyds_Bank

spluff wrote: »

I just spoke with Lloyds representative on phone and I will lose my benefit of my Platinum account to change to Club Lloyds.. She recommended opening a new club Lloyds account.


If I did this and moved my monthly salary from my Platinum to the club Lloyds would this fulfil the monthly requirement of £1,500/month


Many Thanks

Hi spluff,

You can add Club Lloyds to a Platinum account and you would retain the Platinum account benefits (e.g. mobile phone insurance). Did my colleague provide any info on what they were referring to? Was it related to a Platinum account fee waiver?

Regarding opening a new account for Club Lloyds, if your monthly salary is £1,500 or more, you could transfer that from your Platinum to the Club Lloyds and that would fulfil the fee waiver criteria.

Thanks,

Craig

bugwoman

I have an old Gold Service account (includes AA membership, travel insurance etc.) that only charges an account fee if my balance drops below £2000. I am anxious not to lose that benefit.
I also have 3 Vantage accounts which used to give me a good interest rate until they were dropped in favour of the Club Lloyds account.
Can I upgrade one of my Vantage accounts to a Club Lloyds one whilst keeping my old Gold Service account intact with NO loss of the account fee waiver it currently enjoys?
If not, I'll open another account or accounts with a different bank and transfer the bulk of my money there, especially as a letter has just arrived telling me that my Lloyds savings account will now earn next to nothing as well. After 35 years with Lloyds I would prefer not to have to do this, but they are not being very helpful right now!

badger09

bugwoman wrote: »

I have an old Gold Service account (includes AA membership, travel insurance etc.) that only charges an account fee if my balance drops below £2000. I am anxious not to lose that benefit.
I also have 3 Vantage accounts which used to give me a good interest rate until they were dropped in favour of the Club Lloyds account.
Can I upgrade one of my Vantage accounts to a Club Lloyds one whilst keeping my old Gold Service account intact with NO loss of the account fee waiver it currently enjoys?
If not, I'll open another account or accounts with a different bank and transfer the bulk of my money there, especially as a letter has just arrived telling me that my Lloyds savings account will now earn next to nothing as well. After 35 years with Lloyds I would prefer not to have to do this, but they are not being very helpful right now!

You can certainly 'upgrade' one of your Vantage accounts to a Club account. Obviously, you'll need to meet the Club T&C for 4% interest. You could also open the Club Lloyds Monthly Saver -also at 4%.

Why would these account have any impact on your Gold Service account?

Lloyds_Bank

bugwoman wrote: »

I have an old Gold Service account (includes AA membership, travel insurance etc.) that only charges an account fee if my balance drops below £2000. I am anxious not to lose that benefit.
I also have 3 Vantage accounts which used to give me a good interest rate until they were dropped in favour of the Club Lloyds account.
Can I upgrade one of my Vantage accounts to a Club Lloyds one whilst keeping my old Gold Service account intact with NO loss of the account fee waiver it currently enjoys?
If not, I'll open another account or accounts with a different bank and transfer the bulk of my money there, especially as a letter has just arrived telling me that my Lloyds savings account will now earn next to nothing as well. After 35 years with Lloyds I would prefer not to have to do this, but they are not being very helpful right now!

Hi bugwoman,

Yes, you can change a Vantage account to Club Lloyds without losing the fee waiver on the other account (Gold Service).

If you give us a ring on either 01733 347 007 or 0845 3000 000, one of my colleagues can remove Vantage and add Club Lloyds for you.

Hope this helps,

Craig

GingerFurball_2

Don't do it online. Because then your Gold account will be upgraded and you lose the fee waiver.

bugwoman

Thanks. I started doing it online and realised that it was trying to upgrade my Gold Service account rather than my Vantage one, so I stopped. I then enquired in a branch, where the girl behind the desk didn't seem to know that my type of account still existed and also implied that I would have to lose my existing fee waiver if I wanted to have a Club Lloyds account. I was therefore a bit wary, especially as every time there is an accidental monthly charge made on my account it takes a good half hour on the phone to get the person on the other end to find the details on this old-style account, work out the conditions and refund the money. To give them credit they always do it with politeness, good grace and sometimes humour, but it still takes time!

GingerFurball_2

As soon as you make any changes to your Gold Service account you lose the fee waiver. So if you want it to be free then don't change it. Changing one of your Vantage accounts won't affect the Gold account though.

tarq_2

Any one know, if I upgrade to club lloyds and choose 'gourmet society' card do the GS have my bank details?

I've read some horror stories about cards being renewed automatically & members not being able to cancel.

After 12months I may want to change to something else and not renew the GS card.

TIA