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

Gers

PloughmansLunch said:

flaneurs_lobster said:

The HSBC switch deal needed you to open an Advance current account and qualify for a £1000 overdraft. That's a pretty high bar to entry and not even I bothered with that one.

Oh I forgot about that part. I qualified for the £1k overdraft but declined it when completing the application as I have no need for it - have I shot myself in the foot for the switch bonus, or has anyone else been in the same situation and landed the £200 bonus?


On topic: I used to have Lloyds Premier and got the cinema tickets back in October. I have since downgraded to a boggo Club Lloyds as I realised I was paying about £30 a month for basically AA membership. I'm hoping these tickets will still be valid now as I was told I could keep using the old debit card, otherwise I'll have a pretty expensive trip to the cinema coming up.

The cinema tickets are a benefit of the Club account and not Premier.

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

Katiehound

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

Why keep talking about HSBC when the thread is actually about Club Lloyds account.

if you want to complain about HSBC there are already several threads! or even... start your own.

[Deleted User]

Katiehound said:

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

Why keep talking about HSBC when the thread is actually about Club Lloyds account.

if you want to complain about HSBC there are already several threads! or even... start your own.

Why keep bringing me back into it? Why not let it die?

My point was about the statement, "It doesn't matter" when clearly it does.

PloughmansLunch

Gers said:

The cinema tickets are a benefit of the Club account and not Premier.

<link>

Sorry, you're right. I've checked some old Lloyds emails and it was Club Premier - a long-discontinued account that for years I'd been paying through the nose for out of sheer apathy and laziness.

Now I'm on a standard Club account it's still cheaper to sign-up directly for a full bells-and-whistles joint AA membership. I never bothered with any mobile insurance claims due to the excess, or needed the travel insurance so I wish I'd changed sooner.

jadex

Gers said:

PloughmansLunch said:

flaneurs_lobster said:

The HSBC switch deal needed you to open an Advance current account and qualify for a £1000 overdraft. That's a pretty high bar to entry and not even I bothered with that one.

Oh I forgot about that part. I qualified for the £1k overdraft but declined it when completing the application as I have no need for it - have I shot myself in the foot for the switch bonus, or has anyone else been in the same situation and landed the £200 bonus?


On topic: I used to have Lloyds Premier and got the cinema tickets back in October. I have since downgraded to a boggo Club Lloyds as I realised I was paying about £30 a month for basically AA membership. I'm hoping these tickets will still be valid now as I was told I could keep using the old debit card, otherwise I'll have a pretty expensive trip to the cinema coming up.

The cinema tickets are a benefit of the Club account and not Premier.

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

and, just to close the matter, unused cinema tickets are indeed recalled by Lloyds, so use them before downgrading

kaMelo

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

The part I don't understand is why you brought up requirements for an HSBC Advance account and the problems that may cause people on a thread titled;

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

[Deleted User]

kaMelo said:

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

The part I don't understand is why you brought up requirements for an HSBC Advance account and the problems that may cause people on a thread titled;

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

Because it was about the throwaway comment by another poster that finding another £500 didn't matter. For some it does.

Band7

Deleted_User said:

kaMelo said:

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

The part I don't understand is why you brought up requirements for an HSBC Advance account and the problems that may cause people on a thread titled;

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

Because it was about the throwaway comment by another poster that finding another £500 didn't matter. For some it does.

But not for the Club Lloyds account. You can recycle the same £500, or other amount of your choice, as often as required to make £2,000. There is also no minimum income requirement on this account.

[Deleted User]

Band7 said:

Deleted_User said:

kaMelo said:

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

The part I don't understand is why you brought up requirements for an HSBC Advance account and the problems that may cause people on a thread titled;

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

Because it was about the throwaway comment by another poster that finding another £500 didn't matter. For some it does.

But not for the Club Lloyds account. You can recycle the same £500, or other amount of your choice, as often as required to make £2,000. There is also no minimum income requirement on this account.

So if it doesn't make any difference, for example you are on the state basic pension (£568), you can just negate it by moving money in, then out, then in, then out, then in, then out and then in again, (all to be done before you pay any bills whatsoever) why are Lloyds doing it? What is their purpose?

k_man

Deleted_User said:

Band7 said:

Deleted_User said:

kaMelo said:

Deleted_User 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

They wont let you have the account if you can't show a monthly income of £2000. What part of that do you not understand?

The part I don't understand is why you brought up requirements for an HSBC Advance account and the problems that may cause people on a thread titled;

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

Because it was about the throwaway comment by another poster that finding another £500 didn't matter. For some it does.

But not for the Club Lloyds account. You can recycle the same £500, or other amount of your choice, as often as required to make £2,000. There is also no minimum income requirement on this account.

So if it doesn't make any difference, for example you are on the state basic pension (£568), you can just negate it by moving money in, then out, then in, then out, then in, then out and then in again, (all to be done before you pay any bills whatsoever) why are Lloyds doing it? What is their purpose?

Most people see this as you did initially, and/or don't want the hassle of moving money, just relying on their single monthly income payment to cover any pay in requirements.

This help nudge the userbase for this account towards higher earners (the ones that are usually more profitable)