Do all current accounts need £1000 per month

Snowedunder

I would like to change banks as I am paying £25 for a Platinum Account from Lloyds and I do not use all the extra services, just the £500 overdraft, (always paid in full each month). I am just not happy with Lloyds in general and the local branch has absolutely no privacy for private discussions, and being deaf I talk louder than average and have just been accused, by letter, of shouting at their tellers - I am so upset.


It appears that to open a new current account with an arranged overdraft requires a minimum £1000 per month credit. (I get paid weekly not monthly so I could not always satisfy that criteria).


Any thoughts please.

Archi_Bald

Snowedunder wrote: »

It appears that to open a new current account with an arranged overdraft requires a minimum £1000 per month credit. (I get paid weekly not monthly so I could not always satisfy that criteria).

There is no direct relationship between the monthly deposit amount and the availability of an arranged overdraft. An overdraft offer would much depend on the bank's view of your credit worthiness. Most banks won't offer you big overdrafts unless you have been a customer for a while. Having said this, Nationwide FlexDirect seems to be offering up to £1,200 if your credit history is good.

Monthly minimum deposit requirements will vary between £0 and £1,500. These do not have to be made in one go - e.g. 3 x £500 still makes £1,500, and the most onerous requirement is that the payment cannot be made from an account at the same bank.

I don't know any bank that routinely offers private discussions but all of them will have private rooms for appointments. What sort of things do you need to discuss with them regularly - can you not sort most of these on the internet?

YorkshireBoy

Archi_Bald wrote: »

Nationwide FlexDirect seems to be offering up to £1,200 if your credit history is good.

And sometimes a good bit more.

And best of all it's 0% for the first year. Could you clear the £500 in that time and get into a position of not needing it each and every month? If not, it could be a little expensive at 50p per day going forward.

However, it may not be suitable as it's mainly designed for internet and phone servicing, and you're only supposed to use branch for business you can't transact online/by phone.

Have you made Lloyds aware of your accessibility issue?...

http://www.lloydsbank.com/accessibility.asp?WT.ac=FASA1012 (click 'hearing impaired')

Lloyds_Bank

Snowedunder wrote: »

I would like to change banks as I am paying £25 for a Platinum Account from Lloyds and I do not use all the extra services, just the £500 overdraft, (always paid in full each month). I am just not happy with Lloyds in general and the local branch has absolutely no privacy for private discussions, and being deaf I talk louder than average and have just been accused, by letter, of shouting at their tellers - I am so upset.


It appears that to open a new current account with an arranged overdraft requires a minimum £1000 per month credit. (I get paid weekly not monthly so I could not always satisfy that criteria).


Any thoughts please.

Hi Snowedunder,

Firstly, please accept my apologies for your recent experience in-branch. If you can let me know which branch you visited, I'll be happy to pass on your feedback to ensure this doesn't happen again.

If you feel you're no longer using the associated benefits of your Added Value Account (AVA), we can change your account-type to one with no monthly fee, or even a different AVA which still provides some benefits with a lower monthly cost.

If you have access to a Textphone, this can be arranged over the phone with our PhoneBank team (you'll find the relevant number, along with Textphone numbers for other departments here). Alternatively, an appointment can be arranged in a branch of your choosing to change your account-type. Please be assured that this appointment will take place in a private room.

Please let me know if I can be of any further assistance.

Thanks,

Graeme