Barclays Premier Current Account

Saver101101

It’s a practice many use in here but you may not get away with it for premium accounts.

You won't get away with it for Premium account types as you have a manager looking over your accounts rather than a computer program, and they are more likely to spot "Abnormal" transactions and query them.

Saver101101

Marchitiello said:

Saver101101 said:

Deleted_User said:

Wow I do like the HSBC premier cards. Not sure about Lloyds. Hopefully one day!

I have to ask, how is it you maintain all these accounts, do you move the money between them or actually have the income going into each account each month?

the only card I have yet to see on here is a real private bank such as Adam and company.

Never move money between accounts are your bound to get picked up and the accounts closed, anyway its not meant to be boastful, I am really not that sort of person (Despite what others may think, I was only trying prove a point that each account is different and has different benefits), I remember years ago having only £20 left at the end of the week and having to choose between petrol and food, at that point I vowed never to be in that situation again, I make each account work for me and save as much as I can.

I think you previously posted about having the Lloyds Premier Account from when it was a pay for account that you have always avoid paying the fee for by having a £10k balance on it? 

I was assigned a Personal Relationship Manager at Lloyds around 2016/17 but was told that they did not have a Premier account to be offered any longer, only an existing product that legacy customers could retain. I have only be offered an occasional chat about financial products and a bit more of a sales pitch when they launched the joint venture with Schroder Personal Wealth.

That's True, when I moved to Private Banking the "Premier" Part remained, so Free travel insurance, Free mobile Phone Insurance etc., now over the years it has got less and less, the fee for this is £25 per month, but if you hold £10k + there is no fee.

Now when interest rates were low you would have had to make £25 in interest a month to break even on what it would cost you at Lloyds to have those benefits, but now that interest rates are going up I don't believe it is worth it, I have never had a phone call from them and on the only occasion I had to phone them you had a different number to call which was answered right away, so that and the fact that the overdraft rates are low might not really be worth it anymore. Mind you I had been with Lloyds since 2008 when the account was offered then.

[Deleted User]

Saver101101 said:

Marchitiello said:

[Deleted User] said:

Saver101101 said:

[Deleted User] said:

Wow I do like the HSBC premier cards. Not sure about Lloyds. Hopefully one day!

I have to ask, how is it you maintain all these accounts, do you move the money between them or actually have the income going into each account each month?

the only card I have yet to see on here is a real private bank such as Adam and company.

Never move money between accounts are your bound to get picked up and the accounts closed, anyway its not meant to be boastful, I am really not that sort of person (Despite what others may think, I was only trying prove a point that each account is different and has different benefits), I remember years ago having only £20 left at the end of the week and having to choose between petrol and food, at that point I vowed never to be in that situation again, I make each account work for me and save as much as I can.

It’s a practice many use in here but you may not get away with it for premium accounts.

Leaving money in accounts to maintain them, this may not always be best if they don’t pay interest etc so has to be worth it if you use what the accounts offers. For me there is no point for Barclays premier as I just want an overdraft. 

The thing is that officially they offer overdraft to other accounts types but the Basic Account, so I am not sure why you are being told that the only way to get it is to have a Premier Account. 

I think what Deleted_User means its because the Barclays Premier is a Fee Free (Interest Free) £500 (Used to be £1k) overdraft, so is HSBC Premier as well, so if you could get that account (Without the £20 monthly fee) you are getting an interest free overdraft of £500 rather than having to pay interest etc if you used it ?, where on a normal account if you used the overdraft you would pay for it.

No I actually mean Barclays told me you can no longer get overdrafts on the Barclays Bank account (I don't have a basic one)

Saver101101

[Deleted User] said:

Saver101101 said:

Marchitiello said:

[Deleted User] said:

Saver101101 said:

[Deleted User] said:

Wow I do like the HSBC premier cards. Not sure about Lloyds. Hopefully one day!

I have to ask, how is it you maintain all these accounts, do you move the money between them or actually have the income going into each account each month?

the only card I have yet to see on here is a real private bank such as Adam and company.

Never move money between accounts are your bound to get picked up and the accounts closed, anyway its not meant to be boastful, I am really not that sort of person (Despite what others may think, I was only trying prove a point that each account is different and has different benefits), I remember years ago having only £20 left at the end of the week and having to choose between petrol and food, at that point I vowed never to be in that situation again, I make each account work for me and save as much as I can.

It’s a practice many use in here but you may not get away with it for premium accounts.

Leaving money in accounts to maintain them, this may not always be best if they don’t pay interest etc so has to be worth it if you use what the accounts offers. For me there is no point for Barclays premier as I just want an overdraft. 

The thing is that officially they offer overdraft to other accounts types but the Basic Account, so I am not sure why you are being told that the only way to get it is to have a Premier Account. 

I think what Deleted_User means its because the Barclays Premier is a Fee Free (Interest Free) £500 (Used to be £1k) overdraft, so is HSBC Premier as well, so if you could get that account (Without the £20 monthly fee) you are getting an interest free overdraft of £500 rather than having to pay interest etc if you used it ?, where on a normal account if you used the overdraft you would pay for it.

No I actually mean Barclays told me you can no longer get overdrafts on the Barclays Bank account (I don't have a basic one)

Oh right, that does seem odd as I assumed they did offer them.

Marchitiello

Saver101101 said:

It’s a practice many use in here but you may not get away with it for premium accounts.

You won't get away with it for Premium account types as you have a manager looking over your accounts rather than a computer program, and they are more likely to spot "Abnormal" transactions and query them.

It is very true but circulating your real earning across the accounts to meet a pay in Requirement it is fine. Aside of Barclays that I been since I was underage, and that I have progressed through the various account types (Student, Graduate, Premier) based on full knowledge of my salary earning, when I have obtained Premier with other banks, it has been after a disclosure of my P60 and other bank statements, so my main salary gets paid into one of the account, and the full amount gets circulated at once across all my accounts. Other earnings from investments, part time directorship roles etc, gets paid in different  accounts and also gets circulated across all the accounts, so all have full visibility of my true earning. Also, if a bank wants, can get true salary data about someone (organisation paying regularly into accounts in one names rather than a personal account paying another) as it has been shared on this forums many times before.

what can become suspicious and reviewed by a Premier/Personal Banker, is if someone continuously pay in smaller amounts coming in and out of other bank accounts in the same name.

WillPS

Saver101101 said:

It’s a practice many use in here but you may not get away with it for premium accounts.

You won't get away with it for Premium account types as you have a manager looking over your accounts rather than a computer program, and they are more likely to spot "Abnormal" transactions and query them.

Not so sure. I had an introductory call with Barclays Premier and as part of that they asked how my account is used. They wanted to know about the direct debits (2 x £1 Britannia savings monthly DDs) and I told them straight that they just exist to cover off the Blue Rewards criteria. Not a problem at all said the fellow, but if I wanted to bring over my DDs elsewhere their switching team would be pleased to help me with that.

I've had similar conversations with a Natwest manager during one of those "financial check up" calls who asked what I was using an account with no activity for. I told her straight that's just for a future switching bonus and she used it as an opportunity to tell me about a switching bonus which they were running. 

I don't think it's their job to impose restrictions, written or unwritten, they're basically there to make you feel valued and sell you stuff. 

[Deleted User]

Saver101101 said:

[Deleted User] said:

Saver101101 said:

Marchitiello said:

[Deleted User] said:

Saver101101 said:

[Deleted User] said:

Wow I do like the HSBC premier cards. Not sure about Lloyds. Hopefully one day!

I have to ask, how is it you maintain all these accounts, do you move the money between them or actually have the income going into each account each month?

the only card I have yet to see on here is a real private bank such as Adam and company.

Never move money between accounts are your bound to get picked up and the accounts closed, anyway its not meant to be boastful, I am really not that sort of person (Despite what others may think, I was only trying prove a point that each account is different and has different benefits), I remember years ago having only £20 left at the end of the week and having to choose between petrol and food, at that point I vowed never to be in that situation again, I make each account work for me and save as much as I can.

It’s a practice many use in here but you may not get away with it for premium accounts.

Leaving money in accounts to maintain them, this may not always be best if they don’t pay interest etc so has to be worth it if you use what the accounts offers. For me there is no point for Barclays premier as I just want an overdraft. 

The thing is that officially they offer overdraft to other accounts types but the Basic Account, so I am not sure why you are being told that the only way to get it is to have a Premier Account. 

I think what Deleted_User means its because the Barclays Premier is a Fee Free (Interest Free) £500 (Used to be £1k) overdraft, so is HSBC Premier as well, so if you could get that account (Without the £20 monthly fee) you are getting an interest free overdraft of £500 rather than having to pay interest etc if you used it ?, where on a normal account if you used the overdraft you would pay for it.

No I actually mean Barclays told me you can no longer get overdrafts on the Barclays Bank account (I don't have a basic one)

Oh right, that does seem odd as I assumed they did offer them.

I’m going to try again tomorrow lunch time. I don’t give up so easily!

Saver101101

WillPS said:

Saver101101 said:

It’s a practice many use in here but you may not get away with it for premium accounts.

You won't get away with it for Premium account types as you have a manager looking over your accounts rather than a computer program, and they are more likely to spot "Abnormal" transactions and query them.

Not so sure. I had an introductory call with Barclays Premier and as part of that they asked how my account is used. They wanted to know about the direct debits (2 x £1 Britannia savings monthly DDs) and I told them straight that they just exist to cover off the Blue Rewards criteria. Not a problem at all said the fellow, but if I wanted to bring over my DDs elsewhere their switching team would be pleased to help me with that.

I've had similar conversations with a Natwest manager during one of those "financial check up" calls who asked what I was using an account with no activity for. I told her straight that's just for a future switching bonus and she used it as an opportunity to tell me about a switching bonus which they were running. 

I don't think it's their job to impose restrictions, written or unwritten, they're basically there to make you feel valued and sell you stuff. 

I guess your right then, that's good to know.

Saver101101

Marchitiello said:

Saver101101 said:

It’s a practice many use in here but you may not get away with it for premium accounts.

You won't get away with it for Premium account types as you have a manager looking over your accounts rather than a computer program, and they are more likely to spot "Abnormal" transactions and query them.

It is very true but circulating your real earning across the accounts to meet a pay in Requirement it is fine. Aside of Barclays that I been since I was underage, and that I have progressed through the various account types (Student, Graduate, Premier) based on full knowledge of my salary earning, when I have obtained Premier with other banks, it has been after a disclosure of my P60 and other bank statements, so my main salary gets paid into one of the account, and the full amount gets circulated at once across all my accounts. Other earnings from investments, part time directorship roles etc, gets paid in different  accounts and also gets circulated across all the accounts, so all have full visibility of my true earning. Also, if a bank wants, can get true salary data about someone (organisation paying regularly into accounts in one names rather than a personal account paying another) as it has been shared on this forums many times before.

what can become suspicious and reviewed by a Premier/Personal Banker, is if someone continuously pay in smaller amounts coming in and out of other bank accounts in the same name.

Yes that's true I never thought of it like that.

Saver101101

[Deleted User] said:

Saver101101 said:

[Deleted User] said:

Saver101101 said:

Marchitiello said:

[Deleted User] said:

Saver101101 said:

[Deleted User] said:

Wow I do like the HSBC premier cards. Not sure about Lloyds. Hopefully one day!

I have to ask, how is it you maintain all these accounts, do you move the money between them or actually have the income going into each account each month?

the only card I have yet to see on here is a real private bank such as Adam and company.

Never move money between accounts are your bound to get picked up and the accounts closed, anyway its not meant to be boastful, I am really not that sort of person (Despite what others may think, I was only trying prove a point that each account is different and has different benefits), I remember years ago having only £20 left at the end of the week and having to choose between petrol and food, at that point I vowed never to be in that situation again, I make each account work for me and save as much as I can.

It’s a practice many use in here but you may not get away with it for premium accounts.

Leaving money in accounts to maintain them, this may not always be best if they don’t pay interest etc so has to be worth it if you use what the accounts offers. For me there is no point for Barclays premier as I just want an overdraft. 

The thing is that officially they offer overdraft to other accounts types but the Basic Account, so I am not sure why you are being told that the only way to get it is to have a Premier Account. 

I think what Deleted_User means its because the Barclays Premier is a Fee Free (Interest Free) £500 (Used to be £1k) overdraft, so is HSBC Premier as well, so if you could get that account (Without the £20 monthly fee) you are getting an interest free overdraft of £500 rather than having to pay interest etc if you used it ?, where on a normal account if you used the overdraft you would pay for it.

No I actually mean Barclays told me you can no longer get overdrafts on the Barclays Bank account (I don't have a basic one)

Oh right, that does seem odd as I assumed they did offer them.

I’m going to try again tomorrow lunch time. I don’t give up so easily!

I would definitely try again as it seems odd.