Lloyds TSB Premier Account - Joint?

DebtMagnet

Hi all,

had a review with our Lloyds TSB account manager today in relation to our joint budget account etc. I have been a Lloyds customer for years and have various products with them including a Platinum account. My Wife has her own bank account elsewhere and we set up a joint budget account to simply pay bills.

Anyway the account manager said that if we change my Platinum account to a normal account and then make the budget account a Premier account, it will cost £25 a month instead of the current £15 I pay now for the Platinum, but then both me and my Wife will benefit from the privileges such as AA membership etc. When I questioned this she just told me it was correct and gave me a leaflet to read which doesn't say anything much at all.

Does anyone have any experience of this and know if it is true or not as it sounds a bit too good to be true and I don't trust what she is telling me?

Thanks in advance,
DM

jonesMUFCforever

She is correct. A joint Premier account costs the same as a sole account.

DebtMagnet

Thanks for the speedy reply!

Well I guess that's what we'll go for then as the AA cover alone for 2 would be a bargain. Just seemed a bit too good to be true to be honest and that made me suspicious.

Thanks again
DM

mrmajika

What they didn't tell you however is that you could downgrade your sole account and upgrade the joint account to Platinum also at £15 - so no additional costs - yet you both get all the benefits that you do just now.

Premier is only worth it if you will use the additional benefits of the identity theft protection and home emergency cover. If this is not of interest, simply keep at the Platinum level, but do it on the joint account.

DebtMagnet

mrmajika wrote: »

What they didn't tell you however is that you could downgrade your sole account and upgrade the joint account to Platinum also at £15 - so no additional costs - yet you both get all the benefits that you do just now.

Premier is only worth it if you will use the additional benefits of the identity theft protection and home emergency cover. If this is not of interest, simply keep at the Platinum level, but do it on the joint account.

That's a very good point and I had not even thought of it like that.

Many thanks,
DM

cherrymaid

It is true. My parents use the system to obtain joint benefits but technically it is 'Mums Account'!!!!!

sgtbash_2

It sure it true, I have it myself on my wife and my joint account.

We both get all the privileges for one cost!

Winner!

maximumme

Does anyone know if it possible to downgrade from a TSB Platinum account? Before I had my arm twisted by those nice TSB employees to upgrade from my last account which I held for 25 years, and was free, I now pay £17 a month. I know there are loads of goodies on offer, travel insurance, AA membership etc, but I don't need any of them. I don't travel abroad, and I have no car.
Regards, Mike.

FOXGLOVE_2

Yes, you can downgrade by emailing them:

On Lloyds TSB homepage, go to 'Help' link on top right hand corner.

Type 'downgrade' into search:

"If you'd like to downgrade your account you can email us and we'll call you back at time that's convenient to you. You can do it also by visiting the Lloyds TSB branch where your account is held. You can use our branch locator to find the address details you need. If you have any questions about the benefits available with your current account, please call us on 0845 3000 000."

I'd avoid the branch unless you're popping in anyway, they'll try to keep you and probably sell you something else.

Just say the accounts no longer suitable as these type of accounts are sold to need so if the benefits are no longer required, they can't argue!

(Sorry I can't post links, I'm just a newbie )

FOXGLOVE_2

Also a reply to DebtMagnet -

If you were on Platinum before and moved to Premier for the extra breakdown assistance, it's worth noting that there's an upgrade available with the AA which effectively means keeping the Platinum (also add your wife to make it joint) and just paying a lump sum to get the coverage available on the Premier account.

For £10 difference, it might be worth doing that if that's the only reason you upgraded.

I used to work with Lloyds setting these accounts up and this was a little-known-loophole so I HOPE the options still there.

"f you want even greater breakdown protection, you can upgrade your AA Breakdown Cover to suit your personal needs. As a Gold or Platinum customer you will get a discount on the normal AA upgrade rates by calling the numbers listed above.

Platinum customers: 08458 50 53 00"

Worth a shot?

Kavanne

Do you have 2 cars? You need to check if the cover will apply to both or only your 'main car'.