Latest news with #ConsumerEditor
The Sun
3 days ago
- Business
- The Sun
Millions of Lloyds customers have HOURS before a major change to bank's fees – here's how to act
Lana Clements, Assistant Consumer Editor Published: Invalid Date, MILLIONS of Lloyds customers will be hit in the pocket if they fail to take immediate action. The banking giant is hiking fees for selected current account. 1 Customers feeling the sting are those signed up to the Club Lloyds account. The packaged account provides extra benefits including a Disney plus subscription, cashback rewards, and access to linked savings accounts with preferential interest rates. In return, a membership fee is charged. This currently stands at a monthly £3, but is waived when £2,000 or more is deposited into the account each month. However, from today this fee is being hiked to £5 for users. Customers could end up paying an extra £24 a year if they do not meet the £2,000 threshold. This change will also affect customers with Club Lloyds Silver and Club Lloyds Platinum current accounts. These users are charged the standard Club Lloyds monthly fee, as well as respective account fees of £11.50 per month for Silver and £22.50 per month for Platinum. But as part of wider changes Club Lloyd customers no longer pay foreign currency or cash withdrawal fees when using their debit cards abroad. An overdraft enables you to borrow money through your current account if the balance hits zero. These services were already available for Club Lloyds Silver and Club Lloyds Platinum current accounts. The bank has also increased the interest-free allowance on Club Lloyds arranged overdrafts. What do Club Lloyds accounts offer? 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 Lloyds is not the only provider shaking up its offering. The Co-operative Bank announced it would be increasing the monthly charge on its Everyday Extra package bank account in July. Currently, customers pay a monthly fee of £15, totalling £180 a year. But starting from July 1, this fee will increase to £18 a month—an extra £36 annually. What to do if your perks are being being cut If your bank account becomes more expensive or loses some of its perks, it's a good time to see if you could be better off with another provider. Price comparison sites such as or show the top accounts on the market. But it's worth considering what is most important to your individual circumstances. Some banks offer interest-free overdrafts, while others unlock top savings accounts. You may get cashback and other money rewards or benefits such as cinema tickets or insurance. When you find an account you want switching is a simple process and can usually be done through the Current Account Switch Service (CASS). Dozens of high street banks and building societies are signed up - there's a full list on CASS' website. Under the switching service, swapping banks should take seven working days. You don't have to remember to move direct debits across when moving, as it is done for you. All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving.
The Sun
10-05-2025
- Business
- The Sun
All the summer cost of living payments you can apply for to get up to £3,337 cash direct to bank accounts
Lana Clements, Assistant Consumer Editor Published: Invalid Date, MANY households are being financially squeezed to the brink by the rising cost of living. Keeping on top of everyday bills such as water, energy and council tax can sometimes feel like a losing battle. However, there is help available from a wide range of sources if you know where to look. These payments are available to those battling to make ends meet and can prove to be a crucial helping hand when you need it most. In some cases, it can means hundreds of pounds of financial support to plug black holes in your budget. Here's a roundup of the schemes you could apply for over the coming months... Household Support Fund - £425 Households struggling to pay essential bills such as energy, water or food could get a financial lifeline from their local council through the Household Support Fund (HSF). The scheme was first launched in 2021 and has been extended multiple times. The latest round of funding is running between now and March 2026. Each council in England has been allocated a share of the £742million fund and can distribute it to hard-up residents as they see fit. As a result, eligibility criteria varies based on where you live in the country. However, help is typically offered to those on selected benefits or with a recognised low income and vulnerable. The amounts you can receive varies too, you may get free cash payment or some councils offer supermarket vouchers. From TV to energy... tips to save you money on 7 bills that are going up in April For example, households in East Riding can now apply for a payment worth up to £425. Check in with your local council to find out exactly what you could be entitled to and how to apply. Some councils may not have opened the scheme yet for the year, in this case keep an eye on its website or social media channels for an update. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £421million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. And don't delay, the scheme has been extended until April 2025 but your council may dish out their share of the Household Support Fund before this date. Once the cash is gone, you may find they cannot provide any extra help so it's crucial you apply as soon as possible. School Uniform Grants – Up to £200 Kitting out the kids for school can hit your budget. However, uniform grants offered by local councils can help ease the pain. The amount you get depends on where you live. In Wales, families can get up to £200 per child, while in England it depend on the council you fall under. For example, Southwark Council offers a £45 voucher for 11-year-olds moving to secondary school. Healthy Start – Up to £442 a Year Families expecting a baby or that already have children under four can get help with buying nourishing food through the Healthy Start scheme. This provides prepaid cards to buy essentials like milk, fruit, and vegetables. And you could get up to £442 a year, depending on your circumstances. You'll need to be on selected benefits to apply, including Universal Credit. You can apply for the healthy start scheme online on the government website. You can also print out a paper form from the Heathy Start website here or you can request one from your GP or midwife. Alternatively, you can request one from the healthy start helpline on 0345 607 6823. Maternity grant - £500 Mums expecting their first child could claim a one-off £500 Sure Start Maternity Grant to help with the costs of a new baby. You'll need to be on selected benefits such as Universal Credit to claim. You don't have to pay the grant back and it doesn't affect other benefits. You can make a claim for the grant by filling in the Sure Start Maternity Grant (SF100) claim form. Energy grants - £1,250 If you have fallen behind on your energy bills it can be tough to get back on top of payments. However, most energy suppliers offer grants to help families battling to clear debt. British Gas, Next, EDF, Octopus, Ovo and Scottish Power are among the providers offering this help. And the British Gas Energy Trust is even available to non-British Gas customers. To be able to claim you need to have between £50 and £1,700 of energy debt. If your application is successful the money will be applied to your energy account. But you can only claim a grant from the trust every two years. EDF's customer support fund offers an average of £1,250 off customers' arrears. Whether you are eligible and the amount you can get will depend on your supplier and your financial situation. Contact your energy supplier to see what help you can get. Prepayment meter voucher - £20 If you need to top up your prepayment meter but can't afford to do so then you could get temporary credit from your supplier, You will have to pay back this credit but it can help when you are stuck for cash and need to top up. Most suppliers offer up to £20 if you run out of cash and can't top up straight away so that you don't go without essentials such as heating or lighting. Then when you top up, the borrowed credit will be deducted from your payment. Contact your local council, food bank or Citizens Advice for further help. Charity grants - £500 It's worth knowing that charities can offer financial help to people in need. These are often dependent upon circumstances with money available to the bereaved, disabled, unemployed, redundant, ill, carers, veterans, young or old people. For example, people living with MND are eligible for up to £500 worth of cost of living payments, via the MND Association. The British Legion has also set up a Cost of Living grant, which can be applied for here using the Lightning Reach portal. You can find out which grants may be available to you using Turn2Us's grant search on the charity website. Are you missing out on benefits? YOU can use a benefits calculator to help check that you are not missing out on money you are entitled to Charity Turn2Us' benefits calculator works out what you could get. Entitledto's free calculator determines whether you qualify for various benefits, tax credit and Universal Credit. and charity StepChange both have benefits tools powered by Entitledto's data. You can use Policy in Practice's calculator to determine which benefits you could receive and how much cash you'll have left over each month after paying for housing costs. Your exact entitlement will only be clear when you make a claim, but calculators can indicate what you might be eligible for.
