Club Lloyds Account reverting to Standard Saver

bnorth

Dear Forum
I have a letter from Lloyds Bank informing me that on the 7th Feb my Club Lloyds account will revert to a Standard Saver (having had it for a year).
Does anyone know if its possible via online banking to prevent this happening ? The letter says I can choose to renew my Club Lloyds but my impression from the Lloyds website is that I can only "update" my account back to a Club Lloyds afters its reverted to a Saver. Is there no way in advance to prevent it changing to a Standard Saver ?
many thanks

YorkshireBoy

Assuming you are talking about the Club Lloyds Monthly Saver, it'll convert to an ordinary savings account and retain the same account number. As soon as it does, you can open another Club Lloyds Monthly Saver, with a new account number.

Once you've removed the funds from the 'standard saver', you can close it.

Maybe time to read your Club Lloyds Monthly Saver account conditions? A bit late maybe, but at least you'll be better informed this time next year.

TheShape

Do you mean a Club Llloyd's Monthly Saver? This will indeed 'mature' and become a standard saver (current terms say Easy saver). You can then start a new Club Lloyd's Monthly Saver if eligible.

Jo_Blogs

Hi:-)

The ClubLloyds Regular Saver automatically changes to an easy saver after maturity (12 months). There is no way of stopping this happening. You will, however, be able to apply for a new Club Lloyds monthly saver.

https://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp

HTH

bnorth

I understand - OK I'll renew it after its reverted thanks to all for such prompt and helpful replies