Latest news with #LloydsBank
Yahoo
12 hours ago
- Business
- Yahoo
Lloyds Bank issues debit card and PIN warning to thousands of customers
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. READ MORE: 'Absolutely epic' new attraction moves in to empty Bullring shop after Arket quits READ MORE: Birmingham city centre restaurant to turn into 'quintessential pub' as new plans unveiled READ MORE UK faces 'Spanish scorcher' heatwave with 31C as exact date it starts announced 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."
BBC News
2 days ago
- Business
- BBC News
Cocktail bar in former Towcester Lloyds bank granted alcohol licence
A former high street bank could be turned into a cocktail bar after a council granted an alcohol licence to the applicant hopes to open The Vault Cocktail Lounge in Towcester, Northamptonshire, at the site of the former Lloyds Bank on Watling Street Northamptonshire Council approved the application to serve alcohol every day from 11:00 to 00:00, but further planning and licensing permissions are still needed for the venue to committee heard objections, but was told the applicant runs a pub in the town with "no issues with noise and [he] makes sure everything is run correctly". A change of use application to get planning permission to convert the building into a bar and make some small physical changes is still application currently has 10 letters of objection from members of the public, the Local Democracy Reporting Service said. The licencing committee heard from a developer working on nearby homes, and a local resident who both objected to the plans over noise and possible disruption from the well as selling alcohol, the cocktail bar will be allowed to play recorded music agent speaking on behalf of the applicant, Anthony Walker, said: "He's going into this trying to build a business, but it's going to be a premium cocktail bar. "It's going to be nicer people with a more disposable income that want to just sit and chat and have a nice drink."The premises licence was granted on Thursday but a date for a committee meeting to decide on the planning application has not yet been set. Follow Northamptonshire news on BBC Sounds, Facebook, Instagram and X.
The Independent
5 days ago
- Business
- The Independent
High-street bank offering £500 gift card to new customers – see if you are eligible
HSBC UK is offering a "VIP shopping experience" at Selfridges stores to new Premier customers, intensifying competition among major banks to attract affluent clients. The promotion includes a £500 gift card and other perks for those who meet specific criteria, such as earning a salary of £100,000 or more. To qualify, customers must fully switch to the bank's Premier account using the Current Account Switch Service (Cass). HSBC relaunched its Premier account in February. The bank said the account gives qualifying customers access to new and enhanced benefits focused on key themes of wealth, international, travel and health. 'We have redesigned our Premier offering to ensure our perks and benefits echo what our customers want from a premium bank account, all still without a monthly fee,' Sabine Fichaux, head of customer propositions at HSBC UK, said. The 'limited time' switching offer excludes existing HSBC and First Direct current account customers and is available to UK residents only. Full switches using Cass must be completed by 12 August, 2025. Eligible customers will be sent an email on or after 9 November, 2025 to claim their gift card. Last week, Lloyds Bank launched an account aimed at people with income or assets of more than £100,000. Lloyds' offer of an account combining financial perks with 'premium lifestyle services' is part of its moves to grow its presence in this part of the market. The Lloyds Premier account offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches, among its benefits. The account will also offer customers 'ready-made investment portfolios with zero management fees for the first year'. The deal also offers a 'Premier planning hub' within the mobile app, offering tools such as a 'net worth calculator' and 'wealth forecasting'. People can also access other perks such as fee-free spending abroad on debit cards, and cinema tickets.
Scottish Sun
5 days ago
- Business
- Scottish Sun
Seven money changes coming in June including Universal Credit payment boost and fee hikes – check how you're affected
Check if you're affected by the changes and what you need to do ALL CHANGE Seven money changes coming in June including Universal Credit payment boost and fee hikes – check how you're affected Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) JUNE is set to bring several financial changes that could impact millions of households across the country. Among them, Lloyds Bank will increase its Club Lloyds account fee, while HyperJar will introduce a new inactivity fee. Sign up for Scottish Sun newsletter Sign up 1 Here's all the money changes you need to know about in June Universal Credit recipients may see their payment boost by mid-June, as new benefit rates come into effect following April's inflation-based uprating. Meanwhile, the Bank of England will announce its next interest rate decision on June 19, potentially influencing borrowing costs Energy customers are being warned to submit meter readings before the new price cap, which reduces average bills by 7%, takes effect on July 1. Here's all the key money changes coming your way next month. Lloyds Bank fee hike - June 2 Lloyds Bank is increasing the monthly charge on its Club Lloyds package bank account in June. Club Lloyds is a current account which provides additional benefits compared to their standard account. It functions like a regular current account, allowing direct debits, standing orders, and other standard banking operations. However, it also offers a range of lifestyle benefits, cashback rewards, and access to linked savings accounts with preferential interest rates. At the moment there's a monthly fee of £3, but this is waived if you deposit £2,000 or more into the account each month. However, from June 2, this fee will rise to £5 per month, potentially adding up to £24 more per year for those who do not meet the £2,000 monthly deposit requirement. This change will also affect customers with Club Lloyds Silver and Club Lloyds Platinum current accounts, as they are charged the standard Club Lloyds monthly fee in addition to their respective account fees of £11.50 per month for Silver and £22.50 per month for Platinum. Hyperjar introducing fees - June 3 HyperJar is a free money management app and prepaid debit Mastercard designed for both adults and children aged six and above. However, customers face a new inactivity charge, which is set to be introduced within weeks. From June 3, a £3 monthly inactivity fee will come into effect. This fee will be automatically deducted from your HyperJar balance if your account remains inactive for 12 months or longer. Thankfully, you can take steps to prevent this fee entirely and keep your account free of charges. To avoid the charge, simply use your account. You can send or receive money from another bank or HyperJar account. Transferring money between your HyperJar "jars" will also prevent the fee. Making a purchase with your HyperJar card or buying a voucher through the app are other ways to avoid the charge. Remember, you need to use your account at least once every 12 months to avoid future fees. Universal Credit payment boost - until June 12 Benefit payment rates rose by 1.7% on April 7, in line with the consumer price index (CPI) level of inflation for September 2024. It's important to note that, although the new rates are now in effect, most people won't see an increase in their payments until later this month or in June. This is because those on Universal Credit have to wait a bit longer to receive the uprating because of how the benefit is assessed. It means that the date you'll receive the pay boost will depend on when your last assessment period was. Universal Credit is paid monthly and is based on your circumstances each month. This is called your "assessment period", and it starts the day you make your claim. The new Universal Credit rates will not come into effect until after the first full one-month assessment period, which starts on or after April 7. Those whose assessment periods started after April 7 saw their benefits rise as early as May 13. However, those whose assessment periods started before this date could be waiting until June 12 to receive the payment boost. Bank of England interest rate decision - June 19 The Bank of England is set to announce its next decision on interest rates on June 19. Currently, the base rate stands at 4.25%, following a reduction during the Bank's last meeting in May. The base rate is the rate at which the Bank of England lends to other banks and financial institutions. This, in turn, influences the cost of borrowing for consumers, impacting everything from mortgages to loans and credit cards. At the last meeting, markets expected three more interest rate cuts this year, which would lower the base rate to 3.5% by the end of 2025. However, only one or two more cuts are predicted for the rest of the year after inflation rose to 3.5% in April. Meter reading day - June 30 Energy bills are set to fall by 7% in July, bringing much-needed relief to millions of households. Ofgem, the energy regulator, has confirmed the new price cap, which comes into effect on July 1, 2025. The average energy bill will drop from £1,849 to £1,720, saving a typical household about £129 a year, or roughly 7%. The savings will provide relief to millions, as over 22million households on standard variable tariffs are directly affected by the price cap, which is updated every three months. It is crucial for customers without a smart meter to submit a meter reading before the price cap changes take effect. Doing so ensures accurate billing now and helps avoid you paying more than you need to when bills fall. Customers with a smart meter don't need to note down their energy usage as their meter readings are automatically sent to their supplier at regular intervals. How do I take a meter reading? THE easiest way to take a meter reading is to take a photo of your gas and electricity meters. This means you have evidence in case you need to dispute a bill. You can send in your meter reading online via your energy account. Some providers will also let you send in the numbers by text or through their app. Check which options your supplier offers on their website. Electricity meters If you have a digital electricity meter then you will see a row of six numbers. Five of them will be in black and one will be in red. Write down the five numbers in black, which are shown from left to right. If you are on an economy 7 or 10 tariff, which gives you cheaper electricity at night, then you will have two rows of numbers. You need both to take a reading. If you have a traditional dial meter then you need to read the first five dials from left to right. Ignore any red dials. If the pointer is between two numbers then write down the lowest figure. If it is between nine and zero then write down the number nine. Gas meters If you have a digital metric gas meter showing five numbers followed by a decimal point then you need to write down the first five numbers. If you have a digital imperial meter then you will see four black numbers and two red numbers. Write down the four black numbers only. If you have a digital gas meter, follow the same steps as the digital electricity meter. RTS electricity meter switch off - June 30 A major energy meter switch-off in June risks leaving 300,000 customers trapped with higher bills or disconnected entirely. The change will affect electricity meters powered by the Radio Teleswitch Service (RTS), which will stop working later this summer. The devices rely on the RTS which broadcasts a signal alongside the long-wave channel for BBC Radio 4. This signal is then picked up by the meter and used to switch the electricity rates at different times of the day, depending on the tariff. Some RTS electricity meters can also automatically turn heating and hot water systems on and off during certain hours. However, when the RTS signal is switched off these meters will no longer function as intended. This means that from June, these meters could be left jammed on peak time electricity rates depending on when the RTS signal dies. This could lead to huge bill hikes for households affected by the switch-off. It could also leave those with heating systems controlled by RTS on or off permanently. Households still using these outdated meters are being urged to upgrade to smart meters to avoid losing power or being stuck with hefty bills. The regulator has confirmed the switch-off will take place in phases rather from June 30. Mortgage guarantee scheme ends - June 30 The mortgage guarantee scheme, introduced in 2021, helps first-time buyers get a mortgage with just a 5% deposit. The Government guarantees to cover some losses if the lender faces financial issues. However, this scheme will end on June 30. The government provides a guarantee to lenders, compensating them for a portion of losses if a borrower defaulted.
The Sun
5 days ago
- Business
- The Sun
Seven money changes coming in June including Universal Credit payment boost and fee hikes – check how you're affected
JUNE is set to bring several financial changes that could impact millions of households across the country. Among them, Lloyds Bank will increase its Club Lloyds account fee, while HyperJar will introduce a new inactivity fee. 1 Universal Credit recipients may see their payment boost by mid-June, as new benefit rates come into effect following April's inflation-based uprating. Meanwhile, the Bank of England will announce its next interest rate decision on June 19, potentially influencing borrowing costs Energy customers are being warned to submit meter readings before the new price cap, which reduces average bills by 7%, takes effect on July 1. Here's all the key money changes coming your way next month. Lloyds Bank fee hike - June 2 Lloyds Bank is increasing the monthly charge on its Club Lloyds package bank account in June. Club Lloyds is a current account which provides additional benefits compared to their standard account. It functions like a regular current account, allowing direct debits, standing orders, and other standard banking operations. However, it also offers a range of lifestyle benefits, cashback rewards, and access to linked savings accounts with preferential interest rates. At the moment there's a monthly fee of £3, but this is waived if you deposit £2,000 or more into the account each month. However, from June 2, this fee will rise to £5 per month, potentially adding up to £24 more per year for those who do not meet the £2,000 monthly deposit requirement. This change will also affect customers with Club Lloyds Silver and Club Lloyds Platinum current accounts, as they are charged the standard Club Lloyds monthly fee in addition to their respective account fees of £11.50 per month for Silver and £22.50 per month for Platinum. Hyperjar introducing fees - June 3 HyperJar is a free money management app and prepaid debit Mastercard designed for both adults and children aged six and above. However, customers face a new inactivity charge, which is set to be introduced within weeks. From June 3, a £3 monthly inactivity fee will come into effect. This fee will be automatically deducted from your HyperJar balance if your account remains inactive for 12 months or longer. Thankfully, you can take steps to prevent this fee entirely and keep your account free of charges. To avoid the charge, simply use your account. You can send or receive money from another bank or HyperJar account. Transferring money between your HyperJar "jars" will also prevent the fee. Making a purchase with your HyperJar card or buying a voucher through the app are other ways to avoid the charge. Remember, you need to use your account at least once every 12 months to avoid future fees. Universal Credit payment boost - until June 12 Benefit payment rates rose by 1.7% on April 7, in line with the consumer price index (CPI) level of inflation for September 2024. It's important to note that, although the new rates are now in effect, most people won't see an increase in their payments until later this month or in June. This is because those on Universal Credit have to wait a bit longer to receive the uprating because of how the benefit is assessed. It means that the date you'll receive the pay boost will depend on when your last assessment period was. Universal Credit is paid monthly and is based on your circumstances each month. This is called your "assessment period", and it starts the day you make your claim. The new Universal Credit rates will not come into effect until after the first full one-month assessment period, which starts on or after April 7. Those whose assessment periods started after April 7 saw their benefits rise as early as May 13. However, those whose assessment periods started before this date could be waiting until June 12 to receive the payment boost. Bank of England interest rate decision - June 19 The Bank of England is set to announce its next decision on interest rates on June 19. Currently, the base rate stands at 4.25%, following a reduction during the Bank's last meeting in May. The base rate is the rate at which the Bank of England lends to other banks and financial institutions. This, in turn, influences the cost of borrowing for consumers, impacting everything from mortgages to loans and credit cards. At the last meeting, markets expected three more interest rate cuts this year, which would lower the base rate to 3.5% by the end of 2025. However, only one or two more cuts are predicted for the rest of the year after inflation rose to 3.5% in April. Meter reading day - June 30 Energy bills are set to fall by 7% in July, bringing much-needed relief to millions of households. Ofgem, the energy regulator, has confirmed the new price cap, which comes into effect on July 1, 2025. The average energy bill will drop from £1,849 to £1,720, saving a typical household about £129 a year, or roughly 7%. The savings will provide relief to millions, as over 22million households on standard variable tariffs are directly affected by the price cap, which is updated every three months. It is crucial for customers without a smart meter to submit a meter reading before the price cap changes take effect. Doing so ensures accurate billing now and helps avoid you paying more than you need to when bills fall. Customers with a smart meter don't need to note down their energy usage as their meter readings are automatically sent to their supplier at regular intervals. How do I take a meter reading? THE easiest way to take a meter reading is to take a photo of your gas and electricity meters. This means you have evidence in case you need to dispute a bill. You can send in your meter reading online via your energy account. Some providers will also let you send in the numbers by text or through their app. Check which options your supplier offers on their website. Electricity meters If you have a digital electricity meter then you will see a row of six numbers. Five of them will be in black and one will be in red. Write down the five numbers in black, which are shown from left to right. If you are on an economy 7 or 10 tariff, which gives you cheaper electricity at night, then you will have two rows of numbers. You need both to take a reading. If you have a traditional dial meter then you need to read the first five dials from left to right. Ignore any red dials. If the pointer is between two numbers then write down the lowest figure. If it is between nine and zero then write down the number nine. Gas meters If you have a digital metric gas meter showing five numbers followed by a decimal point then you need to write down the first five numbers. If you have a digital imperial meter then you will see four black numbers and two red numbers. Write down the four black numbers only. If you have a digital gas meter, follow the same steps as the digital electricity meter. RTS electricity meter switch off - June 30 A major energy meter switch-off in June risks leaving 300,000 customers trapped with higher bills or disconnected entirely. The change will affect electricity meters powered by the Radio Teleswitch Service (RTS), which will stop working later this summer. The devices rely on the RTS which broadcasts a signal alongside the long-wave channel for BBC Radio 4. This signal is then picked up by the meter and used to switch the electricity rates at different times of the day, depending on the tariff. Some RTS electricity meters can also automatically turn heating and hot water systems on and off during certain hours. However, when the RTS signal is switched off these meters will no longer function as intended. This means that from June, these meters could be left jammed on peak time electricity rates depending on when the RTS signal dies. This could lead to huge bill hikes for households affected by the switch-off. It could also leave those with heating systems controlled by RTS on or off permanently. Households still using these outdated meters are being urged to upgrade to smart meters to avoid losing power or being stuck with hefty bills. The regulator has confirmed the switch-off will take place in phases rather from June 30. Mortgage guarantee scheme ends - June 30 The mortgage guarantee scheme, introduced in 2021, helps first-time buyers get a mortgage with just a 5% deposit. The Government guarantees to cover some losses if the lender faces financial issues. However, this scheme will end on June 30. The government provides a guarantee to lenders, compensating them for a portion of losses if a borrower defaulted. What other help is out there for first-time buyers? GETTING on the property ladder can feel like a daunting task but there are schemes out there to help first-time buyers have their own home. Lifetime ISA - This is another Government scheme that gives anyone aged 18 to 39 the chance to save tax-free and get a bonus of up to £32,000 towards their first home. You can save up to £4,000 a year and the Government will add 25% on top. Shared ownership - Co-owning with a housing association means you can buy a part of the property and pay rent on the remaining amount. You can buy anything from 25% to 75% of the property but you're restricted to specific ones.
