Lloyds cash account vs lloyds basic account

devils_vixen

Can someone tell me the difference between these two? I have the cash account and I can upgrade to their basic version but I was under the impression the cash account IS the basic account?

I don't really use the account that much and tend to transfer money to it if there is cashback offers on there that I know I'm going to use.

grumbler

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midslad27 wrote: »

finally halifax offer visa debit with their new basic account what launched yesterday. Previously halifax offered electron only. lloyds also changed name from cash account to basic.

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EarthBoy

The cash account could still result in charges, e.g. for unpaid direct debits. The basic account doesn't charge for these.

The lack of any charges means that the majority of banks are now limiting their basic accounts to those who are in financial difficulty. You will be credit checked for them and if there's no sign of any financial difficulty they won't let you have one; they'll offer you one of their ordinary accounts, with charges for returned payments, instead.

GingerFurball_2

With a Cash Account you can still be charged returned item fees, the Basic Account has no charges at all. However, Lloyds are a lot stricter when it comes to excesses on the Basic Account.

and_the_sun_will_rise

GingerFurball wrote: »

With a Cash Account you can still be charged returned item fees, the Basic Account has no charges at all. However, Lloyds are a lot stricter when it comes to excesses on the Basic Account.

What do you mean when you say excesses?