Lloyds Private banking free club Lloyds ?

Ryan101

Whilst Browsing the LLoyd's Web Site, I came across this: "Automatic refund on £5 monthly Club fee for Private Banking clients"

Does this mean that Private Banking clients do not have to pay in the £1500 per month or have 2 Direct Debits like standard accounts do to avoid the £5 fee.

G_M

I've not looked, but would imagine that to qualify to be a private banking customer you'd need a certain income and/or level of savings/investments with them.

So little difference really.

ceredigion

"
Club Lloyds Private Banking Premier Current Account

Your Private Banking Premier Current Account is designed to make life easier.

• Monthly account fee £25 per month

"

Ryan101

ceredigion wrote: »

"
Club Lloyds Private Banking Premier Current Account

Your Private Banking Premier Current Account is designed to make life easier.

• Monthly account fee £25 per month

"

Yes that's the Lloyds Private Banking Premier Current Account is £25 per month, but this one is the LLoyds Private Banking Club Lloyds account which appears to be free:

Club Lloyds Private Banking Current Account
Everyday banking that fits around you.

Private Banking and Advice Manager with additional Relationship Associate support for management of your wealth

Exclusive access to offers on other eligible Lloyds Bank products
A personal overdraft option available from day one*

Private Banking Debit Card

Variable, tiered credit interest up to 4% AER (3.93% Gross) paid on balances in your account from £1 to £5,000^

Automatic refund on £5 monthly Club fee for Private Banking clients

Access to internet banking and mobile apps and a Private Banking service centre for convenient day-to-day transactional banking

One of the three Lifestyle Benefits every year - a Gourmet Society dining membership, a choice of magazine subscription or six cinema tickets.

Ben8282

Ryan101 wrote: »

Does this mean that Private Banking clients do not have to pay in the £1500 per month or have 2 Direct Debits like standard accounts do to avoid the £5 fee.

It would appear so. However, I think there may be an assumption that account holder would be using such an account as their main current account and therefore the requirements would be met.