Lloyds Gold Added Value account pre 2005

catherb

Hi all, just had message. saying free waiver will end in September 2021!  can they do this?

ThisnotThat

The terms and conditions allow them to change things, so yes.

brass_in_pocket

Oh no, just seen this in my inbox.

I've had this account since the year dot and religiously kept the £2K in in every month for the travel insurance (which unusually for a 'free' banking benefit went up to 80 years of age)

Typical, now that I am old (70) and travel insurance cover is more expensive, they have pulled the waiver

I know that they can always change T&C but I wouldn't have thought that there were too many Gold account holders left; seems a bit of a cheese-paring exercise.

WillPS

brass_in_pocket said:

Oh no, just seen this in my inbox.

I've had this account since the year dot and religiously kept the £2K in in every month for the travel insurance (which unusually for a 'free' banking benefit went up to 80 years of age)

Typical, now that I am old (70) and travel insurance cover is more expensive, they have pulled the waiver

I know that they can always change T&C but I wouldn't have thought that there were too many Gold account holders left; seems a bit of a cheese-paring exercise.

Maintaining benefits at no cost for a diminishing number of customers will likely result in a higher cost per account holder but with none of the advertisable benefits that would come with it being openly available.

If you'll make use of the insurances, £14.95/month is not a bad deal at all, particularly for the travel insurance for a regular traveller in their 70s.

Wheres_My_Cashback

The first cull of fee waived accounts happened about 10 years ago when thousands lost their privileges as they didn't use the accounts often enough. This time all the remaining lose it.

On that basis even though it's very disappointing to lose it now we have done rather well out of this. I've used the AA/Phone/Holiday insurance on numerous occasions, but will now have to shop around and get them individually which almost certainly will be cheaper than £14.95pm.

As I've had this account for 37 years I'll just downgrade to a non-fee paying a/c rather than close as remember that longevity on current accounts score positively on credit histories.

Matt8888

This happened to me about 18 months ago. I had been with Lloyds for 30 years and never paid a penny for my Gold Account benefits, so it was not a bad run to be fair to them. Anyway, I switched to HSBC Premier a week later and got the £125 switch bonus.

AndyPK

I've got my letter too. 

Comparing it to the Nationwide account which is £13/month. 
Anyone know that breakdown provider Nationwide use ? 

apt

Britannia Rescue. There's also an extra fee on the travel insurance of £65 if anyone is over 70.

AndyPK

Can anyone recommend a mobile phone insurance provider or tell me what the typical cost is please. (For iPhone)

Answer £71-77 year

WillPS

AndyPK said:

Can anyone recommend a mobile phone insurance provider or tell me what the typical cost is please. (For iPhone)

Depends on the iPhone, as well as the level of cover and excess.

You can compare policies via Uswitch, MoneySupermarket etc

Halifax Ultimate Reward is effectively £13/month if you jump through some relatively simple hoops each month - treat this as the ceiling to what you should be willing to pay.

AndyPK

You may be interested to hear there is a new PAYG breakdown App called RexQ. 
I think you get people to bid to sort you out. I've not used it, but it maybe worth installing on your phone now, should you ever need it. 

https://www.rexq.com/