Club Lloyds Monthly Fee Waiver Minimum Deposit changing to £2,000

RG2015

diystarter7 said:

diystarter7 said:

RG2015 said:

35har1old said:

kaMelo said:

Deleted_User said:

ZeroSum said:

WillPS said:

Bridlington1 said:

I wonder if Halifax and Bank of Scotland will follow suit.

If Halifax bought it in I suspect it'd have to be phased in as they effectively lock in an offer for customers for 12 months.

I had my suspicions early on that this would be a way for LBG to eventually get rid of the cash rewards but that hasn't happened so far.

It's not a massive issue really, as it just means sloshing a bit more money between accounts, or doing an extra transaction & back again

Actually it is a massive issue for some of us. My income doesn't amount to £2,000 a month so HSBC wont let me switch to them to get the bonus. Annoyingly It does now exceed the £1750 formerly required.

Not really, just withdraw £500 and re deposit it. Job done

That's not the point that being made Its when you are applying for the new account and you put  your income in on the application and it does not come to the £2000 a mth figure the application will declined

I am at a complete loss as to why you would choose to say this.

Unless you can provide an explanation I can only assume that you want to start an argument.

Hi

Please consider this bfore assuming that the poster wants to start an.......

Have you considered that the poster may be genuinely confused?

Personally, I'd counter the post by providing, clear, plain and concise facts and then tell the poster that they have got the wrong end of the stick,

Please note I'm not having a go at you as one or two others have been a lot more about that you but you were the last post on the thread.

We all live and learn and I think the poster will come back and agree but IMO it's harder to say that when the poitn is made that may not be to their liking etc.

I hope you understand and no offence to you.

Hi again

1. I googled PART of the title, and this is the first bit right at the top I came up with and  if not read in detail, people can get confused  
2. (PLEASE READ THE WHOLE LINK FOR THE FULL CRITERIA)
3. TBH - I finding it confusing but only skimed through and I gues this is what the other poster is basing their deabte on.

£10 monthly fee to maintain the account plus £3 monthly Club Lloyds fee, the Club Lloyds fee is waived each month you pay in £1,500 or more. From 1 April 2023 you'll need to pay in £2,000 or more.

All Our Current Accounts - Lloyds Bank

the link
https://www.google.com/search?q=Club+Lloyds+Monthly+Fee+Waiver+deposit&rlz=1C1CHBF_en-GBGB925GB925&oq=Club+Lloyds+Monthly+Fee+Waiver+deposit&aqs=chrome..69i57j69i61j69i60.10781j0j4&sourceid=chrome&ie=UTF-8



Would you agree it can confuse people?
Thanks

And herein lies the root of the problem. Interpretation.

So much information is placed on the internet (and elsewhere) that is poorly worded or just subject to misinterpretation. (And indeed maliciously fake although not in this case)

I have learned to always do my own research but I sometimes forget that others may not be so diligent.  

diystarter7

RG2015 said:

diystarter7 said:

RG2015 said:

35har1old said:

kaMelo said:

Deleted_User said:

ZeroSum said:

WillPS said:

Bridlington1 said:

I wonder if Halifax and Bank of Scotland will follow suit.

If Halifax bought it in I suspect it'd have to be phased in as they effectively lock in an offer for customers for 12 months.

I had my suspicions early on that this would be a way for LBG to eventually get rid of the cash rewards but that hasn't happened so far.

It's not a massive issue really, as it just means sloshing a bit more money between accounts, or doing an extra transaction & back again

Actually it is a massive issue for some of us. My income doesn't amount to £2,000 a month so HSBC wont let me switch to them to get the bonus. Annoyingly It does now exceed the £1750 formerly required.

Not really, just withdraw £500 and re deposit it. Job done

That's not the point that being made Its when you are applying for the new account and you put  your income in on the application and it does not come to the £2000 a mth figure the application will declined

I am at a complete loss as to why you would choose to say this.

Unless you can provide an explanation I can only assume that you want to start an argument.

Hi

Please consider this bfore assuming that the poster wants to start an.......

Have you considered that the poster may be genuinely confused?

Personally, I'd counter the post by providing, clear, plain and concise facts and then tell the poster that they have got the wrong end of the stick,

Please note I'm not having a go at you as one or two others have been a lot more about that you but you were the last post on the thread.

We all live and learn and I think the poster will come back and agree but IMO it's harder to say that when the poitn is made that may not be to their liking etc.

I hope you understand and no offence to you.

Thank you and no offence taken.

I hope @35har1old does return and respond.

I will admit that I may have been a bit harsh but I would say the following in my defence.

1. My first statement was a statement of fact. I am at a complete loss. If someone makes a statement of fact they should have some evidence for this.

2. My second point was conditional. If they cannot provide an explanation....

I do however, accept that my conclusion that the post was in some way provocative was in itself provocative. I will in future be more circumspect in the tone of my posts.

Hi

Many thanks

I sincerely appreciate your post - you had no reason to respond but you did.

Its easy to get frustrated in long thread, I have at times but leaning from it.

Thank you and fYI, there are severl very rude oes here and yours is not rude but a a tad abrupt and you have recognised this - I've done it, we all have but the difference is recognising it and you have, many thanks again

Enjoy your day

RG2015

diystarter7 said:

RG2015 said:

diystarter7 said:

RG2015 said:

35har1old said:

kaMelo said:

Deleted_User said:

ZeroSum said:

WillPS said:

Bridlington1 said:

I wonder if Halifax and Bank of Scotland will follow suit.

If Halifax bought it in I suspect it'd have to be phased in as they effectively lock in an offer for customers for 12 months.

I had my suspicions early on that this would be a way for LBG to eventually get rid of the cash rewards but that hasn't happened so far.

It's not a massive issue really, as it just means sloshing a bit more money between accounts, or doing an extra transaction & back again

Actually it is a massive issue for some of us. My income doesn't amount to £2,000 a month so HSBC wont let me switch to them to get the bonus. Annoyingly It does now exceed the £1750 formerly required.

Not really, just withdraw £500 and re deposit it. Job done

That's not the point that being made Its when you are applying for the new account and you put  your income in on the application and it does not come to the £2000 a mth figure the application will declined

I am at a complete loss as to why you would choose to say this.

Unless you can provide an explanation I can only assume that you want to start an argument.

Hi

Please consider this bfore assuming that the poster wants to start an.......

Have you considered that the poster may be genuinely confused?

Personally, I'd counter the post by providing, clear, plain and concise facts and then tell the poster that they have got the wrong end of the stick,

Please note I'm not having a go at you as one or two others have been a lot more about that you but you were the last post on the thread.

We all live and learn and I think the poster will come back and agree but IMO it's harder to say that when the poitn is made that may not be to their liking etc.

I hope you understand and no offence to you.

Thank you and no offence taken.

I hope @35har1old does return and respond.

I will admit that I may have been a bit harsh but I would say the following in my defence.

1. My first statement was a statement of fact. I am at a complete loss. If someone makes a statement of fact they should have some evidence for this.

2. My second point was conditional. If they cannot provide an explanation....

I do however, accept that my conclusion that the post was in some way provocative was in itself provocative. I will in future be more circumspect in the tone of my posts.

Hi

Many thanks

I sincerely appreciate your post - you had no reason to respond but you did.

Its easy to get frustrated in long thread, I have at times but leaning from it.

Thank you and fYI, there are severl very rude oes here and yours is not rude but a a tad abrupt and you have recognised this - I've done it, we all have but the difference is recognising it and you have, many thanks again

Enjoy your day

Thank you too.

A tad abrupt is spot on.

So was my Dad and so is my son.

None of us ever do it (did it) intentionally. 

Section62

diystarter7 said:

Please consider this bfore assuming that the poster wants to start an.......

Have you considered that the poster may be genuinely confused?

Personally, I'd counter the post by providing, clear, plain and concise facts and then tell the poster that they have got the wrong end of the stick,

I think the key point here is the poster had no reason to be confused.

If they used the forum as forums are intended to be used and read the preceeding posts before repeating a point which was made some three weeks ago and was 'debunked' at the time, then they would be aware of the nature of the £2000 pay-in requirement and not be confused about it.

Posting information which is incorrect or misleading - especially if stated as fact - is not helpful to other forum members.  If someone is confused about something it would be so much better if they crafted their post in the form of a question to clarify their confusion, rather than stating as fact something which isn't.

Your follow up post is a great model of how it should be done.  You stated clearly that you found it confusing, cautioning the reader to bear in mind the subesquent information may not be correct.  If that always happend when people were confused, or posting about something they don't really understand, then this forum (and others) would run more smoothly and be much happier places.

Being told that applications for Club Lloyds accounts "will" be declined is not helpful when there is no evidence of that being something Lloyds intend to do.

WillPS

I rather suspect Lloyds would be quite happy with the prospect of collecting £3/month for not meeting that requirement!

RG2015

The lesson here is not to post information without checking the facts, and also not to be too harsh on those who had been careless rather than reckless.

Alex9384

My salary was less than £1500 per month at the time I applied for Club Lloyds and I got approved.

I also applied for HSBC Advance account which required at least £1750 paid in each month, and again, got approved. During the application they asked whether I can pay in £1750 monthly, rather than if my wage is £1750.

Section62

diystarter7 said:

The bit, link I posted is confusing, perhaps the bank could remove that as it does read as just that.

What would you like them to remove?  The text on the Lloyds website says "£3 monthly fee to maintain the account, waived each month you pay in £1,500 or more. From 1 April 2023 you’ll need to pay in £2,000 or more"

It is simple, clear and explicit.  You need to "pay in"  £1500 or more for the Club Lloyds fee to be waived.  The figure will increase to £2000 from 1 April 2023.

Nowhere does it mention anything about how much you earn, nor does it say you need to have your wages or pension paid into the account.

There is little Lloyds could do to make their requirements any clearer, and removing that text would be unfair to customers by not informing them of the fee and how to avoid it.

If there is some scope for confusion inwhat you posted it may in fact be due to the text you've quoted here -

diystarter7 said:

£10 monthly fee to maintain the account plus £3 monthly Club Lloyds fee, the Club Lloyds fee is waived each month you pay in £1,500 or more. From 1 April 2023 you'll need to pay in £2,000 or more.

- is the correct information for the Club Lloyds Silver Account, not the standard Club Lloyds account.  However, I wouldn't say it is fair to criticise Lloyds because a user of the MSE forums had quoted the requirement for one account type rather than another.  There is a limit to what they can do.

diystarter7

RG2015 said:

The lesson here is not to post information without checking the facts, and also not to be too harsh on those who had been careless rather than reckless.

Excellent post, 10/10 

The bit, link I posted is confusing, perhaps the bank could remove that as it does read as just that.

At time, being polite goes a long, long way and a better debate/answer/help/etc/etc

Thanks again

35har1old

Section62 said:

diystarter7 said:

The bit, link I posted is confusing, perhaps the bank could remove that as it does read as just that.

What would you like them to remove?  The text on the Lloyds website says "£3 monthly fee to maintain the account, waived each month you pay in £1,500 or more. From 1 April 2023 you’ll need to pay in £2,000 or more"

It is simple, clear and explicit.  You need to "pay in"  £1500 or more for the Club Lloyds fee to be waived.  The figure will increase to £2000 from 1 April 2023.

Nowhere does it mention anything about how much you earn, nor does it say you need to have your wages or pension paid into the account.

There is little Lloyds could do to make their requirements any clearer, and removing that text would be unfair to customers by not informing them of the fee and how to avoid it.

If there is some scope for confusion inwhat you posted it may in fact be due to the text you've quoted here -

diystarter7 said:

£10 monthly fee to maintain the account plus £3 monthly Club Lloyds fee, the Club Lloyds fee is waived each month you pay in £1,500 or more. From 1 April 2023 you'll need to pay in £2,000 or more.

- is the correct information for the Club Lloyds Silver Account, not the standard Club Lloyds account.  However, I wouldn't say it is fair to criticise Lloyds because a user of the MSE forums had quoted the requirement for one account type rather than another.  There is a limit to what they can do.

LLOYDS BANK CURRENT ACCOUNT

Club Lloyds

For variable credit interest and great benefits, join the Club.

Features and benefits

£3 monthly fee to maintain the account Waived each month that you pay in £1,500 or more (such as a salary) From 1 April 2023 you’ll need to pay in £2,000 or more.