Million of Lloyds customers will be if they don't take immediate action, after the banking giant hiked its fees for selected current accounts.
Customers experiencing the are those with Club Lloyds accounts. As Club Lloyds members, they enjoy a host of extra benefits packaged, including a plus subscription, cashback rewards, and access to linked savings accounts with better interest rates. However, that comes at a cost, and now that cost has gone up.
The monthly charge is waived when £2,000 or more is deposited into the account each month. However, now that monthly charge has gone up from £3 to £5.
That means, if customers don't meet the £2,000 threshold, they could end up paying £24 more a year.
The change has also impacted customers with Club Lloyds Silver and Club Lloyds Platinum current accounts. These customers are charged the standard Club Lloyds monthly fee, on top of respective account fees of £11.50 per month for Silver and £22.50 per month for Platinum.
Club Lloyds (£5 a month)
- Free lifestyle benefits including either 12 months of Disney+ or six cinema tickets
- Exclusive savings and mortgage rates
- Earn interest on current account balance
- Get up to 15% cashback on debit card purchases in selected retailers
Club Lloyds Silver (£11.50 a month + £5)
- Free lifestyle benefits including either 12 months of Disney+ or six cinema tickets
- Exclusive savings and mortgage rates
- Earn interest on current account balance
- Get up to 15% cashback on debit card purchases in selected retailers
- European and UK family travel insurance
- AA breakdown cover
- Mobile phone insurance
- Fee-free spending and cash withdrawals abroad
Club Lloyds Platinum (£22.50 a month + £3)
- Free lifestyle benefits including either 12 months of Disney+ or six cinema tickets
- Exclusive savings and mortgage rates
- Earn interest on current account balance
- Get up to 15% cashback on debit card purchases in selected retailers
- Worldwide family travel insurance
- AA breakdown cover
- Mobile phone insurance
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