New Lloyds Premier current account

faj15

My reading of the Ts&Cs is that any month you don't pay in £5k you get charged the fee which is a shame and differs from others like Barclays. For those who get annual bonuses and therefore have greater variance in take home (some months above and some below) the threshold, it's a pain that you will/would have to pay for it. 

Other benefits likely make the £15 worth it none the less.

equitydealer

faj15 said:

My reading of the Ts&Cs is that any month you don't pay in £5k you get charged the fee which is a shame and differs from others like Barclays. For those who get annual bonuses and therefore have greater variance in take home (some months above and some below) the threshold, it's a pain that you will/would have to pay for it. 

Other benefits likely make the £15 worth it none the less.

You can cycle £5k from an external account into Lloyds then back out to meet the eligibility requirement. I’m disappointed that you can’t have Lloyds Premier as a joint account, bit of a dealbreaker for me. 

Saver101101

Sorry if I am being a bit dim, but what advantage is this account over their Private account ?, or indeed their Private account over this ?, of is it just basically the same now ?.

faj15

equitydealer said:

faj15 said:

My reading of the Ts&Cs is that any month you don't pay in £5k you get charged the fee which is a shame and differs from others like Barclays. For those who get annual bonuses and therefore have greater variance in take home (some months above and some below) the threshold, it's a pain that you will/would have to pay for it. 

Other benefits likely make the £15 worth it none the less.

You can cycle £5k from an external account into Lloyds then back out to meet the eligibility requirement. I’m disappointed that you can’t have Lloyds Premier as a joint account, bit of a dealbreaker for me. 

That's true, although I would prefer not to cycle if I can help it.

I hadn't picked up on the joint account bit.... What I can't work out is if I can keep my joint Club Lloyds account open if I have a Premier for my personal acct. The wording

• You can only have one Lloyds Premier account and can’t also have a Club Lloyds account at the same time:

would suggest not, which given that Premier doesn't support joint accounts is simply bizarre. I would get it if it was no personal CL with Premier, but this looks like both my CL accounts would have to go.  Either means I switch to Premier and the other half looses their Club Lloyds benefits; or I do nothing.

simax

With Lloyds stopping the £5 discount on the Club Platinum account soon, I’ve decided to swap to the Premier account and upgrade my spare Nationwide account to Flex Plus instead. Same (or in the case of phone insurance, better as it includes family) for £18 a month. With the Premier as my main account with the Bupa benefits and retaining the club stuff, it seems to be the best fit for me now… (plus having Flex Plus means I should automatically qualify for any Fair Share payments in the future too!)… a no brainer it seems…

equitydealer

faj15 said:

equitydealer said:

faj15 said:

My reading of the Ts&Cs is that any month you don't pay in £5k you get charged the fee which is a shame and differs from others like Barclays. For those who get annual bonuses and therefore have greater variance in take home (some months above and some below) the threshold, it's a pain that you will/would have to pay for it. 

Other benefits likely make the £15 worth it none the less.

You can cycle £5k from an external account into Lloyds then back out to meet the eligibility requirement. I’m disappointed that you can’t have Lloyds Premier as a joint account, bit of a dealbreaker for me. 

That's true, although I would prefer not to cycle if I can help it.

I hadn't picked up on the joint account bit.... What I can't work out is if I can keep my joint Club Lloyds account open if I have a Premier for my personal acct. The wording

• You can only have one Lloyds Premier account and can’t also have a Club Lloyds account at the same time:

would suggest not, which given that Premier doesn't support joint accounts is simply bizarre. I would get it if it was no personal CL with Premier, but this looks like both my CL accounts would have to go.  Either means I switch to Premier and the other half looses their Club Lloyds benefits; or I do nothing.

I’m in the same position, they don’t allow you to hold a joint Club Lloyds account and get a sole Premier account. 

Kflynn

Overall think it’s a pretty good offering as a main account. I’m glad they’ve finally followed suit (with some of the other main banks) and put together a Premier Account to reward higher earners.  

Some nice perks (Bupa, Lifestyle benefit, 1% cash back - although is capped at only £10, financial advice and 24 hour Premier helpline). I’ve changed to this account now. It was fairly easy to do in the app.  

I quite like the black card as well. 

simax

I’ve had notification this morning that the new debit card details are in the app. I’ve checked and they’re there. However it says my Apple Pay has been updated with the new card but it hasn’t - and attempting to add the card details manually says the card isn’t available, however I’ve made a payment successfully just entering the details manually to pay a bill. I’m guessing it’ll update at some point in the next day or so….?

PRAISETHESUN

Applied and was successful, upgrading from. Club Lloyds account. Don't earn the £5k/month as income but I do bounce a fair amount in/out to meet the pay in requirements of other current accounts which is all the terms really require.

Benefits seems pretty decent, especially since it's easy enough to meet the requirements by bouncing around some cash. Just gotta figure out a way to artificially generate some debit card spend that's eligible

Kflynn

Anyone got any bright ideas on the debit card spend to get the £10 cash back by the way. It’s essentially £1000/month spend but won’t allow the usual transactions (gambling, credit cards etc)