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

UKSBD

Don't know if it has been mentioned here before but I've just noticed the minimum amount you have to pay in to a Club Lloyds account to benefit from the £3 fee waiver is increasing from £1500 to £2000 from April 1st

Bridlington1

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

hoc

Inflation innit

brucefan_2

Thanks for drawing this to our attention.

That scuppers about an hour and a half's work I did this morning planning on a reshuffle of some DDs and SOs to maximise my usage of accounts feeding Regular Savers.

Typical!

David

molerat

I was SOing £500 in and out twice a month as that was all I needed extra and luckily I had them set with enough slack to put another one in so just set it up.

WillPS

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.

ZeroSum

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

RetSol

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

Precisely. Insufficient to deter the determined MSE-er.

soulsaver

Source: Club Lloyds | Current Accounts | Lloyds Bank

WillPS

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

Totally agree, increasing the minimum pay in would be the least annoying nerf in a way.

Sea_Shell

I guess existing customers will get notified nearer the time, with regards the increase, as I haven't received anything 'official' yet.

30 days notice?    So by early March 23?