Lloyds bank - are they kidding ?
| Related: | Personal Finance•Money•Current Accounts |
I had a telephone call yesterday from Lloyds Bank inviting me to change my current account from Halifax to them. I have been with Halifax for as long as I can remember and although they have made some stupid errors with my Isa and Bond their current account has never been a problem. Also they give me £5 a month reward. Lloyds offered me £12 a month for leaving £5000 per month in the account which means you would have to have far more in than that to meet your monthly commitments. Has anyone else been approached by this offer?
Responses (12)
I haven't, but thanks for the reminder to change my account!! I haven't done that but I see halifax are now offering £100 to change plus the £5 a month!
I've not had that offer. It's not a bad return, but not as good as £5 for £1000 credited!
I feel that this is an illegal approch by Lloyds, and the F.S.A. would fine them for this action. It is not "treating customers fairly" as I see it. Has anyone reported a company to FSA?
The £5 a month is if you have an income which is the same each month or more. They will tell you the amount Jazzj but I am sure you will qualify.
My point is also that a vast amount of people don't have a permanent £5000 sitting in a current account. It's a lot of money nowadays.
I'd be lucky to have 5p at the moment.
Did I dream it are Lloyds joining up with the Co Op bank?
I've just Googled it Sabre as I wasn't sure whether or not in my tiredness that I'd heard it correctly.
http://www.bbc.co.uk/news/business-16174571
Blimey Lillie not heard anything on the news today. Saw Richard Branson being interviewed re taking over Northern Rock - wasn't impressed re currant accounts.
Got my digit out to do this one Fruitcake .... it's 2.88% if £12/month is the gross interest or 3.6% if £12/month is the net interest for basic rate tax payers. I suspect it's the former.
I think I was approached as I took out a current account with Lloyds so I could pay my Visa account online and couldn't do it if I didn't have a current account with them. I explained I would only be transferring funds in when visa needed paying and would be keeping my Halifax current account for all my day to day and monthly bills.
sabre - is the visa account a credit card with lloyds?
Yes it is. I normally send a cheque to pay the bill but when there was talk of cheques being withdrawn I rang Lloyds Visa and asked how I could pay my Visa on line. That's how I've come to have a current account with them.
I would be really surprised if the only way to pay the Lloyds visa credit card online would be via their own current account. If this is the case, it is one heck of restriction to have. then again, i have come accross it being mentioned that Lloyds have in the past issued so called credit cards to people with no interest free period at all.
Yes I wondered why I had to open another current account as I do online banking and would have thought I could have transferred funds from my halifax account. All sounds a bit fishy now. I shall investigate. Thanks for your help
It's Lloyds who rang me fruity to change to them xx
Have these guys gone complete bonkers? Don't they realise that lloyds and halifax are part of the same company.
As a Lloyds shareholder (i know i know) I hope some sanity prevails.
Well, I was aware of that, HSP, so thought Sabre's report strange, but, hey, who knows with bankers! :-)
A good point HSP I couldn't understand it either but was very busy at the time when she rang but will mention it if she rings again. Thanks.
p.s. They rang again last night but hubby answered and told them he was busy.
lloyds shareholder HSP, ouch!
yeah I know .. been foolish enough to subscribe to their rights issues as well.
Double ouch
Oh my can you believe it? I actually regard this as invasive and even beyond being hassled at store checkouts to get 20% off today if you sign up for their store credit card .... BHS take note!
But, and without sounding paranoid, I sometimes wonder if this could be a discrete attempt with the leverage of HM Government to 'line' people up into their chosen bank accounts and get them to become a nation of savers, hence the £12/month titbit. This would certainly create lots more money on deposit ... we have already seen the Halifax offer their own customers a monthly 'lottery' for people with £5000+ on deposit from the end of 2011.
A common theme?
Hbos .halifax lloydstsb Cheltenham and Gloucester all the same ..so be careful where you save as they are under the same umbrella...don't go over the protected limit within these banks
Posts within the money.co.uk community represent the views, experiences and opinions of members only. They should not be taken as financial advice and should not be followed without further research.
More Discussions for Current Accounts
Get fast answers to your money questions, Expert insight, top tips & much more...
