Lloyd's Club Premier bank account

gazmate

I pay £65,000 a year into my Club Premier bank account and it costs £27 a month.

From 1 February 2020, we will be changing the monthly maintaining the account fee for the Lloyds Bank Premier Account. This will increase by £1, from £27 per month to £28 per month.

I use the
>travel insurance
>mobile phone insurance
>AA Breakdown
>£500 fee-free arranged overdraft

I dont or haven't ever used the
>Home Emergency Cover

I do use my overdraft regularly.

Lloyds dont offer this account anymore I am wondering if this is as its no longer competitive and i should stay with it or lose it or if i should be switching to either another lloyds account or another bank?

Any advice?

MovingForwards

When it goes up you will be paying out £336 per year for:

>travel insurance
>mobile phone insurance
>AA Breakdown
>£500 fee-free arranged overdraft (regularly used)

How much would each of these cost as a standalone item?

travel insurance -- how many times do you go away per year and is it Europe or worldwide?

mobile phone insurance -- how many times have you claimed? The insurance starts from about £3.50 per month.

AA Breakdown -- what cover do you get? I pay less that £50 per year with RAC.

£500 fee-free arranged overdraft -- there are some accounts with free O/Ds.

[Deleted User]

You can get all that from Nationwide for £13 per month

System

!!! wrote: »

You can get all that from Nationwide for £13 per month

You've forgot the £500 borrowing cost (£14.45 for a £500 overdraft for 31 days) so potentially £27.45 for the Nationwide FlexPlus.

Not so cut and dry.

[Deleted User]

Heng_Leng wrote: »

You've forgot the £500 borrowing cost (£14.45 for a £500 overdraft for 31 days) so potentially £27.45 for the Nationwide FlexPlus.

Not so cut and dry.

On £65k per annum after tax, why does one need a measly £500 overdraft?