Lloyds Bank issues debit card and PIN warning to thousands of customers

Yahoo

2 days ago

Lloyds Bank has warned customers they can no longer pay in cheques using a pay-in slip at their nearest Post Office - from next week. Instead, you'll need to use your debit card and enter your PIN.
A Lloyds Banking Group spokesperson told The Sun : "Most customers use our app as the easiest way to pay in a cheque, by taking a photo on their phone and letting us take care of the rest. Very few customers are choosing to deposit cheques in at the Post Office."
This week, Lloyds Bank raised the monthly fee for its Club Lloyds packaged bank account from £3 to £5. However, customers who deposit £2,000 or more each month can still avoid paying this fee.
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Packaged bank accounts, like Club Lloyds, offer more than just standard banking—they come with extra perks. With Club Lloyds, you receive one lifestyle benefit annually, choosing from options such as a Disney+ subscription, six cinema tickets, a magazine subscription, or a 25% discount on select food and drink brands.
In addition, members gain access to the Club Lloyds Monthly Saver, which offers an attractive interest rate of 6.25% gross/AER on savings of up to £400 per month. The account also provides up to 15% cashback at participating retailers.
The new £5 monthly fee also applies to the Club Lloyds Silver and Platinum accounts, but these tiers require an extra charge on top of the base fee: £11.50 per month for Silver, and £22.50 per month for Platinum.
On a positive note, from April 14 onwards, Lloyds removed foreign currency fees on debit card transactions made in the local currency. However, if you opt to pay in pounds instead of the local currency, fees may still apply.
Lloyds explains on its website: 'If you pay for something in pounds sterling, the provider of the currency conversion may still charge you. Some cash machine providers may also charge a fee.'
A Lloyds spokesperson said: "Our Club Lloyds range offers our customers lifestyle benefits including Disney+, cinema tickets, and magazine subscriptions, and access to market leading mortgage and savings rates."