Lloyds TSB Private Banking

h5djr

I had a visit from a Private Banking Manager from Lloyds yesterday in connection with my Will. He suggested that I could have a current account with their Private Banking division if I was interested. It does offer some 'perks' over my existing Lloyds current account.

Has anyone any experience of Lloyds Private Banking?

danijenner

Oh yes I have. Its a fabulous service and all round I have been extremely happy with Lloyds TSB :-)

h5djr

Certainly so far they have been good. I emailed with a couple of queries late yesterday, got a personal acknowledgement within minutes and the same PBM rank me first thing this morning with the answers.

I have banked with the normal Lloyds for 40 odd years and so far have no complaints.

Richchad

I was recently offered Lloyds Private Banking, but when I checked the website details, it meant keeping at least £10,000 in a current account at a pathetic 0.1% interest to avoid getting a £25 monthly fee...!

Admittedly there were benefits but none that I really would use and in effect meant paying about £300 per annum with the lost interest against my existing Lloyds Vantage Account paying 4%.

The guy kept saying I needed to see him to discuss my needs, I guess they were looking for me to invest in their products as well, and as I already had all my investments in place with an IFA, couldn't see what I would gain from it all. :rolleyes:

newfoundglory

I remember looking at Lloyds TSB private banking as I have a vantage and graduate current account with them. But Lloyds do seem quite expensive. I went for HSBC Premier instead because there is no minmum balance to avoid the fee and there is a £500 interest free overdraft.

You get comp worldwide travel insurance, relationship manager (mine comes to the branch near where I work - i think he enjoys that), but no breakdown cover. I think the emergency worldwide support at any HSBC branch around the world makes up for that, the £1000 day debit card cash withdrawl limit and the fact they will also open up a premier bank account and mortage for pretty much any country and currency you want!

never-in-doubt

newfoundglory wrote: »

I remember looking at Lloyds TSB private banking as I have a vantage and graduate current account with them. But Lloyds do seem quite expensive. I went for HSBC Premier instead because there is no minmum balance to avoid the fee and there is a £500 interest free overdraft.

You get comp worldwide travel insurance, relationship manager (mine comes to the branch near where I work - i think he enjoys that), but no breakdown cover. I think the emergency worldwide support at any HSBC branch around the world makes up for that, the £1000 day debit card cash withdrawl limit and the fact they will also open up a premier bank account and mortage for pretty much any country and currency you want!

HSBC Premier? Thought you had to earn over £75k or have a huge mortgage with them to get this account?

Am I eligible?

HSBC Premier is available free of charge to:

• Customers with savings or investments of at least £50,000 with HSBC Bank plc. We request that your annual income is paid into your HSBC Premier Bank Account

or

• Customers who have an individual annual income of at least £100,000 which is paid into their Premier Bank Account and have taken out one or more products through our Independent Financial Advisory Service*
  
  *excluding mortgage related insurance products