Latest news with #LloydsPremier
Daily Mail
21-05-2025
- Business
- Daily Mail
Lloyds launches new Premier current account with '£100 of monthly perks' - are you rich enough to get it?
Lloyds Bank has launched a new current account aimed at wealthy customers. The Premier account comes with a range of perks it claims to be worth £100 month. It is geared towards those who have an income, savings or investments of at least £100,000. Alternatively, customers can get the account if they are able to fund it with £5,000 a month. The monthly account fee of £15 will be refunded each month a customer meets the eligibility criteria. Lloyds is on a drive to grow the number of wealthier customers it attracts by stepping up its perks, with rivals Barclays, HSBC and NatWest already offering deals for high-net wealth individuals. Jo Harris, of Lloyds, says: 'Lloyds Premier is a strategically important milestone in our growth ambitions for affluent customers - a part of the market where we have historically been under-represented.' The perks on offer range from cashback to access to medical services provided by Bupa. How much the perks are actually worth depend on which benefits customers choose and how often they use them. Lloyds Premier offers the same perks as a Club Lloyds account but with an extra layer. Customers can get fee-free spending abroad on debit cards, six free cinema tickets or 12 months of Disney+ as with a Club Lloyds account. But it also offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches. The Bupa Family GP subscription service provides access to online GP and nurse consultations, online physiotherapy sessions and online mental health treatment sessions. It also comes with 1 per cent cashback on debit card spending, capped at £10 each month. Barclays Premier lets customers earn up to 15 per cent cashback on eligible card transactions with a Barclays Visa debit card linked to a Cashback Rewards account. Customers need to earn at least £75,000 or have £100,000 savings or investments to qualify for the Barclays deal. Customers can earn interest on balances kept in the Lloyds Premier current account. Lloyds will pay 1.5 per cent on balances up to £3,999.99 and 3 per cent on balances between £4,000 and £5,000 - meaning customers stand to make £90 interest on £5,000 kept in the account. Interest will only be paid if customers have two monthly direct debits set up from the account though. Customers can earn a savings boost on Lloyds one-year fixed-rate bond which has a minimum deposit of £2,000 or more. Also on offer is a 0.2 per cent discount on new homeowner mortgage rates and remortgage rates. The account also offers ready made investment portfolios with no management fees in the first year of having the account. HSBC's Premier account offers boosted savings rates, preferential rates on loans and free worldwide travel insurance. Earlier in the year, HSBC bumped up the eligibility requirements to get the account, namely earn £100,000 or have the same amount in savings or investments. NatWest also has a premier account which, like Lloyds new account requires customers to have an annual income of £100,000 To qualify, you also need a mortgage, investment, life insurance or protection policy with the bank. Customers can also qualify with the same sum in savings or investments, or a half a million pound NatWest mortgage. In return, customers get worldwide family travel insurance, exclusive airport lounge service and a premium 24-hour helpline.
Yahoo
21-05-2025
- Business
- Yahoo
Lloyds account ‘will help empower affluent customers to reach financial goals'
Lloyds Bank is stepping up its drive to attract affluent customers, with the launch of a new account aimed at people with income or assets of more than £100,000. The bank's offer of an account combining financial perks with 'premium lifestyle services' is part of 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 perks include a Bupa family GP and wellbeing subscription service, providing remote access to a range of services; a 0.2 percentage point discount on new homeowner mortgages and remortgage rates and 1% cashback on eligible debit card spending, up to £10 per month. Customers can also receive 1.50% AER (annual equivalent rate) variable credit interest on balances between £1 and £3,999.99 and 3.00% AER variable credit interest on any part of the balance between £4,000 and £5,000, subject to terms and conditions. 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. Jo Harris, director of consumer relationships at Lloyds, said the account will 'help empower' customers to reach their financial goals. 'Lloyds Premier is a strategically important milestone in our growth ambitions for affluent customers – a part of the market where we have historically been under-represented. 'Our new Lloyds Premier account is the latest way we are delivering for our affluent customers, offering experience-led, tailored and personalised solutions in financial, health and lifestyle, while growing our presence in this part of the market.' Under the Lloyds Premier criteria, customers must pay in £5,000 each month or have £100,000 of savings or qualifying investments with Lloyds Bank to be eligible for the account. A monthly fee of £15 will be refunded each month a customer meets the eligibility criteria. Accounts are regularly reviewed, with customers contacted if they are not meeting the criteria, Lloyds said. The bank estimates that customers will typically receive more than £100-worth of benefits per month, based on an account holder's assumed average usage of benefits. Caitlyn Eastell, a spokesperson at financial information website said: 'It's great to see Lloyds Bank launching an innovative account which can help consumers achieve their savings goals and effectively manage their lifestyle. Combining these perks into one account can pose as a massive timesaver and may entice customers with a busy daily schedule. 'However, it is imperative that consumers consider if the account is suitable for their needs to ensure they can get the best value and are not losing out on any of the best perks.' Ms Eastell said that with many 'lucrative 'premier' accounts, the terms and conditions can be quite restrictive so they should be reviewed carefully to ensure they qualify'. She added that for current account customers more widely: 'There are still a wealth of current accounts to choose from which can offer interest on balances or overdrafts. In any case, if customers are unsure which account may be best for them, they should seek independent advice.'
The Independent
21-05-2025
- Business
- The Independent
Lloyds account ‘will help empower affluent customers to reach financial goals'
Lloyds Bank is stepping up its drive to attract affluent customers, with the launch of a new account aimed at people with income or assets of more than £100,000. The bank's offer of an account combining financial perks with 'premium lifestyle services' is part of 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 perks include a Bupa family GP and wellbeing subscription service, providing remote access to a range of services; a 0.2 percentage point discount on new homeowner mortgages and remortgage rates and 1% cashback on eligible debit card spending, up to £10 per month. Customers can also receive 1.50% AER (annual equivalent rate) variable credit interest on balances between £1 and £3,999.99 and 3.00% AER variable credit interest on any part of the balance between £4,000 and £5,000, subject to terms and conditions. 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. Jo Harris, director of consumer relationships at Lloyds, said the account will 'help empower' customers to reach their financial goals. 'Lloyds Premier is a strategically important milestone in our growth ambitions for affluent customers – a part of the market where we have historically been under-represented. 'Our new Lloyds Premier account is the latest way we are delivering for our affluent customers, offering experience-led, tailored and personalised solutions in financial, health and lifestyle, while growing our presence in this part of the market.' Under the Lloyds Premier criteria, customers must pay in £5,000 each month or have £100,000 of savings or qualifying investments with Lloyds Bank to be eligible for the account. A monthly fee of £15 will be refunded each month a customer meets the eligibility criteria. Accounts are regularly reviewed, with customers contacted if they are not meeting the criteria, Lloyds said. The bank estimates that customers will typically receive more than £100-worth of benefits per month, based on an account holder's assumed average usage of benefits. Caitlyn Eastell, a spokesperson at financial information website said: 'It's great to see Lloyds Bank launching an innovative account which can help consumers achieve their savings goals and effectively manage their lifestyle. Combining these perks into one account can pose as a massive timesaver and may entice customers with a busy daily schedule. 'However, it is imperative that consumers consider if the account is suitable for their needs to ensure they can get the best value and are not losing out on any of the best perks.' Ms Eastell said that with many 'lucrative 'premier' accounts, the terms and conditions can be quite restrictive so they should be reviewed carefully to ensure they qualify'. She added that for current account customers more widely: 'There are still a wealth of current accounts to choose from which can offer interest on balances or overdrafts. In any case, if customers are unsure which account may be best for them, they should seek independent advice.'
