Club Lloyds Current Account Monthly Fee to rise to £5

Hattie627

As per title.  Applies from 2 June 2025.

Will continue to be waived for each month that £2000 or more is paid in.


All the more important to ensure that the required in (and out) is performed as part of the monthly funds movement routine.

Source: a post in the thread about Halifax Reward changes, confirmed from Lloyds website.

PRAISETHESUN

https://www.lloydsbank.com/assets/media/pdfs/current-accounts/club-lloyds-guide-to-changes-february-2025.pdf

In addition to the monthly fee going up, there's other changes happening in April such as increasing the interest free OD to £100, and getting rid of overseas debit card transaction fees.

where_are_we

Lets hope this isn`t a precursor to other banks increasing their current account fees.

This one isn`t a problem as long as you pay in at least £2000 each month. Each month we move the £2000 out of an easy access account paying a top interest rate. This money then goes between 3 Lloyds current accounts and 6 Halifax current accounts and then back to the easy access account about half an hour later so no loss of interest whatssoever.

ChewyyBacca

where_are_we said:

Lets hope this isn`t a precursor to other banks increasing their current account fees.

This one isn`t a problem as long as you pay in at least £2000 each month. Each month we move the £2000 out of an easy access account paying a top interest rate. This money then goes between 3 Lloyds current accounts and 6 Halifax current accounts and then back to the easy access account about half an hour later so no loss of interest whatssoever.

Any product based advantage in holding 3 Club Lloyds accts? 

Also 6 Halifax accts- I am assuming reward accounts, does that mean £30 per month rewards?

PRAISETHESUN

ChewyyBacca said:

where_are_we said:

Lets hope this isn`t a precursor to other banks increasing their current account fees.

This one isn`t a problem as long as you pay in at least £2000 each month. Each month we move the £2000 out of an easy access account paying a top interest rate. This money then goes between 3 Lloyds current accounts and 6 Halifax current accounts and then back to the easy access account about half an hour later so no loss of interest whatssoever.

Any product based advantage in holding 3 Club Lloyds accts? 

Also 6 Halifax accts- I am assuming reward accounts, does that mean £30 per month rewards?

Lloyds won't let you hold more than 1 "Club" account unless the second one is joint. But otherwise you get the lifestyle benefits for each account you hold. I don't think there's any extra benefits beyond that.

As for Halifax, there's a max of 3x Reward accounts per person (unless you've got more from when they allowed you to open more). Each account needs to qualify for the rewards individually, but you will then be paid rewards for each account (eg. 3x £5 per month)

where_are_we

Yes - 3 Club Lloyds Current accounts - one joint and two single gets us 3 lifestyle benefits -  6 Cinema tickets, a monthly gardening magazine delivered and the Disney channel.

Yes - 3 single Halifax Reward accounts each = 6 x £5 = £30 a month rewards.

Hattie627

Just a reminder that the first £5 Club Lloyds monthly fee (up from £3) was applied to accounts yesterday (2 July) but the usual waiver has been applied if you met the minimum pay-in requirement (£2000) in June.

It will be a harder monthly hit for anyone forgetting to make the minimum monthly pay-in.