Alternative to Lloyds Platinum

hufc2002

Hi all

So our joint account is a Lloyds Platinum account which we pay £17 per month for. For that we get breakdown cover (used this once and I am already covered via BMW and wife drives a 4 year old Fiesta), mobile phone insurance (never had to use but we both have iPhones) and Travel Insurance (don't go abroad often).

£17 seems a lot for something we don't necessarily use however you never know when you might need to claim for say a iPhone.

Can I get a better deal elsewhere?

The only concern I have is we also have a Club Lloyds monthly saver paying 4% which I assume is attached to the Platinum account therefore if I switch will we lose this?

Thanks in advance.

MyOnlyPost

Downgrade Platinum to Club Lloyds current account which still qualifies for Reg Saver.

Nationwide offer a very similar account for £10

http://www.nationwide.co.uk/products/current-accounts/flexplus/features-and-benefits

YorkshireBoy

hufc2002 wrote: »

Can I get a better deal elsewhere?

Almost certainly!

The only concern I have is we also have a Club Lloyds monthly saver paying 4% which I assume is attached to the Platinum account therefore if I switch will we lose this?

Should be covered in your Club Lloyds Monthly Saver T&Cs surely?


If you find you will, after you've checked, then one of you (whoever is first named on the monthly saver) should open a sole Club Lloyds current account before initiating any joint account switch.

YorkshireBoy

MyOnlyPost wrote: »

Downgrade Platinum to Club Lloyds current account which still qualifies for Reg Saver.

OP wants to switch the joint account...

if I switch

.

hufc2002

Wife has a Club Lloyds account already and has Club Lloyds monthly saver attached to it.

I have free Lloyds bank account

YorkshireBoy

hufc2002 wrote: »

Wife has a Club Lloyds account already and has Club Lloyds monthly saver attached to it.

I have free Lloyds bank account

So when you say "WE have a Club Lloyds monthly saver", what you really mean is SHE has a Club Lloyds monthly saver?


SHE won't lose it if you switch your joint Platinum account, because SHE will still qualify.

hufc2002

No, we have 2 monthly savers. One attached to joint and one attached to wifes sole Club Lloyds account.

YorkshireBoy

hufc2002 wrote: »

No, we have 2 monthly savers. One attached to joint and one attached to wifes sole Club Lloyds account.

You must be first named on the joint account then. So you need to open a sole Club Lloyds current account before switching the joint account away.

hufc2002

I don't think I qualify for the account fee free as my monthly salary is less than £1500

YorkshireBoy

hufc2002 wrote: »

I don't think I qualify for the account fee free as my monthly salary is less than £1500

So make the monthly deposit up to £1,500 by other means to avoid the fee. As an existing customer, paying £17 a month, you can almost guarantee you'll be accepted.

GingerFurball_2

hufc2002 wrote: »

Hi all

So our joint account is a Lloyds Platinum account which we pay £17 per month for. For that we get breakdown cover (used this once and I am already covered via BMW and wife drives a 4 year old Fiesta), mobile phone insurance (never had to use but we both have iPhones) and Travel Insurance (don't go abroad often).

£17 seems a lot for something we don't necessarily use however you never know when you might need to claim for say a iPhone.

Can I get a better deal elsewhere?

The only concern I have is we also have a Club Lloyds monthly saver paying 4% which I assume is attached to the Platinum account therefore if I switch will we lose this?

Thanks in advance.

If you saved up that £17 a month then you could probably afford to replace the iPhone at the end of the 2 years. Mobile phone insurance policies represent spectacularly poor value for money.

Particularly Lloyds. There's a £50 excess to pay and you'll get a refurbished handset if it needs replaced. If mobile phone insurance is your main worry then get a more specialist policy.