Club Lloyd’s Fee Waiver

General_Grant

dggar said:

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone who had read the T&Cs before applying for the account I would have thought.

You've probably made a lot of people smile with that.

Zanderman

dggar said:

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone who had read the T&Cs before applying for the account I would have thought.

No need for anyone to read the actual T&C - the info is right up there on the application page, in quite large letters.

surreysaver

dggar said:

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone who had read the T&Cs before applying for the account I would have thought.

If people are under a lot of stress and have more important things to worry about, realising they might be able to get around paying the £3 fee might be the last thing on their mind.

eschaton

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone with half a brain?

Ballard

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

Ordinarily I would agree but if Lloyds is your only account and your salary doesn't cover it, other than withdrawing cash and going to a counter I'm not sure how people would do it. In the current climate it wouldn't seem wise or particularly fair to others to do that just to save £3. 

nick74

dggar said:

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone who had read the T&Cs before applying for the account I would have thought.

So, pretty much nobody then?

eschaton said:

nick74 said:

colsten said:

nick74 said:

Normally no one, probably. I expect though there will be people who are normally paid enough to get the account for free, but due to furlough etc their income might have dropped below the required £1500 pay-in and would have otherwise found themselves being charged £3. 

There is really no need to get paid £1,500+ to meet the monthly pay-in requirements. 

I know, but outside of this forum how many people would realise how easy it is to avoid the fee? 

Anyone with half a brain?

Still, pretty much nobody then?

I previously worked in financial services and with some clients you could've stapled the t&cs to their foreheads and they'd still claim they had never seen them.

Richchad

I know this is an old thread but maybe still being watched, I have been getting the magazine for many years now and avoiding the £3 fee, I had to also set up two direct debits to qualify for this.

I have looked through the T&Cs but cannot see anything about the DDs being required now.

As Lloyds isn't my main bank I had to set up my two direct debits, like so many others, with the Post Office accounts we opened.

I am just wondereing if I could stop the DDs now in an effort to tidy up my accounts?

GTR_King

you could stop your dd but you won't get your magazine subscription anymore and Lloyds would downgrade your account  

dc_scotland

Aren't the DDs a requirement for the monthly interest, rather than anything to do with the benefits or fee waiver ?

dc_scotland

Just found this:

Do I have to pay out two separate Direct Debits each month?

No, there is no requirement on this account to pay out two separate Direct Debits each month. You only have to pay out two separate Direct Debits each month if you want to earn the credit interest on balances between £1 - £5,000.

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.html