New Lloyds Premier current account

equitydealer

Looks like Lloyds is going to launch a new Premier current account at the end of this month which will replace Lloyds 360 which never made much sense anyway https://www.lloydsbank.com/lloydsbank360.html

EarthBoy

That link just opens my Lloyds app (on Android), and it doesn't give any info on either 360 or Premier.  Have you a different link, or further info? 

equitydealer

To open the link press down on the link and select ‘open’ or ‘open in new tab’ otherwise it tries to load the Lloyds app

EarthBoy

Thanks, although I had to change to desktop site mode for it to work. 

I wonder what will happen to existing Premier account customers?  The account has been closed to new customers for some time, but existing customers were allowed to keep it.  Will the old Premier account be renamed, or will customers be kicked off it?  

https://www.lloydsbank.com/current-accounts/all-accounts/premier-account.html

equitydealer

They might move existing Premier customers onto one of the other packaged account offerings.

There was a press release on the new Lloyds Premier account yesterday that doesn’t give too much away, but this looks very much like a competitor product to the HSBC/Barclays/Natwest Premier accounts. I just hope Lloyds offer something worthwhile such as no admin fees on shares ISAs as they offer to their Private/Mayfair account customers. 

https://www.lloydsbankinggroup.com/insights/launching-lloyds-bank-360.html

From seeing some other threads on this forum I suppose it might trigger some excitement on the design of the new Lloyds Premier debit card 😀

faj15

equitydealer said:

From seeing some other threads on this forum I suppose it might trigger some excitement on the design of the new Lloyds Premier debit card 😀

There was meant to be a 360 design and while I saw one or two pictures of one, I was never issued with one (even at card replacement time). 

I wonder if they will mess about with the eligibility criteria and if it will actually bring anything useful. 

equitydealer

I assume they will maintain the same general eligibility requirement as for Lloyds 360, i.e. an income of £75000 or a minimum amount in savings/investments held with Lloyds. I really hope they offer a genuine incentive or rewards programme but looking at their Private and Mayfair offerings all they get in addition is a relationship manager, slightly higher easy access savings rate and no admin fee on shares ISAs. 

arjar

I received an email from Lloyds about this. It was the first time I had heard about a '360' account - mine is a Club Lloyds.  Perhaps someone pressed the wrong button?  I'm not interested in so called 'Premium' accounts, so I hope there isn't going to be a problem!

WillPS

arjar said:

I received an email from Lloyds about this. It was the first time I had heard about a '360' account - mine is a Club Lloyds.  Perhaps someone pressed the wrong button?  I'm not interested in so called 'Premium' accounts, so I hope there isn't going to be a problem!

AIUI 360 is a subset within Club Lloyds. You can't apply for it (as it stands), you're just given it if you meet the unpublished eligibility requirements.

Olenna

equitydealer said:

I assume they will maintain the same general eligibility requirement as for Lloyds 360, i.e. an income of £75000 or a minimum amount in savings/investments held with Lloyds. I really hope they offer a genuine incentive or rewards programme but looking at their Private and Mayfair offerings all they get in addition is a relationship manager, slightly higher easy access savings rate and no admin fee on shares ISAs. 

Private / Mayfair is the the minimum tier for something like a relationship manager; you aren't going to get a real relationship manager at Premier level. Premier is a mass affluent account with some more bells and whistles than standard Club Lloyds. Expect slightly better rates on existing products and a fancier debit card. 

equitydealer

Olenna said:

equitydealer said:

I assume they will maintain the same general eligibility requirement as for Lloyds 360, i.e. an income of £75000 or a minimum amount in savings/investments held with Lloyds. I really hope they offer a genuine incentive or rewards programme but looking at their Private and Mayfair offerings all they get in addition is a relationship manager, slightly higher easy access savings rate and no admin fee on shares ISAs. 

Private / Mayfair is the the minimum tier for something like a relationship manager; you aren't going to get a real relationship manager at Premier level. Premier is a mass affluent account with some more bells and whistles than standard Club Lloyds. Expect slightly better rates on existing products and a fancier debit card. 

Agree and I don’t want a relationship manager as they will just try and flog uncompetitive products and financial advice services. I’m not expecting much of a product offering but let’s see