Latest news with #MonthlySaver
Yahoo
2 days 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."
Daily Mirror
2 days ago
- Business
- Daily Mirror
Lloyds Bank customers hit with huge change ahead of key service being axed
From this week, customers can no longer pay in cheques using a pay-in slip at their nearest Post Office - instead, you'll need to use your debit card and enter your PIN Lloyds, Halifax, and Bank of Scotland have made a major change to how customers deposit cheques at Post Office branches. From this week, customers can no longer pay in cheques using a pay-in slip. Instead, you'll need to use your debit card and enter your PIN to complete the deposit. It comes as part of wider plans from Lloyds Banking Group to completely axe the ability for its customers to deposit cheques at their local Post Offices from this December. It means customers will have to travel to their nearest Lloyds, Halifax or Bank of Scotland branch, or use mobile banking, to deposit cheques. 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." It comes after Lloyds Bank increased the monthly fee on its Club Lloyds packaged bank account this week from £3 to £5. The monthly fee is still waived if you pay in £2,000 or more each month. A packaged bank account is a type of current account that includes additional benefits. Club Lloyds gives you one lifestyle benefit each year - you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands. You also get access to the Club Lloyds Monthly Saver which pays 6.25% gross/AER on up to £400 a month, and up to 15% cashback at selected retailers. This monthly fee also applies to Club Lloyds Silver and Club Lloyds Platinum accounts, although you have to pay extra on top for these accounts. You pay an additional £11.50 a month for Silver account, and £22.50 a month for Platinum. But in some good news, Lloyds removed debit card foreign currency fees from April 14. This applies when you pay in the local currency - if you choose to pay in pound sterling, you may still be charged. 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.' The interest-free allowance on Club Lloyds arranged overdrafts has also increased from £50 to £100. 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."
Daily Mirror
3 days ago
- Business
- Daily Mirror
Lloyds Bank making huge change to accounts today with fees increased
Club Lloyds gives you one lifestyle benefit each year - you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands Lloyds Bank is increasing the monthly fee on its Club Lloyds packaged bank account from today. The fee is rising from £3 a month to £5 a month. The monthly fee is still waived if you pay in £2,000 or more each month. A packaged bank account is a type of current account that includes additional benefits. Club Lloyds gives you one lifestyle benefit each year - you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands. You also get access to the Club Lloyds Monthly Saver which pays 6.25% gross/AER on up to £400 a month, and up to 15% cashback at selected retailers. This monthly fee also applies to Club Lloyds Silver and Club Lloyds Platinum accounts, although you have to pay extra on top for these accounts. You pay an additional £11.50 a month for Silver account, and £22.50 a month for Platinum. But in some good news, Lloyds removed debit card foreign currency fees from April 14. This applies when you pay in the local currency - if you choose to pay in pound sterling, you may still be charged. 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.' The interest-free allowance on Club Lloyds arranged overdrafts has also increased from £50 to £100. 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." It comes after Lloyds, Halifax and Bank of Scotland customers were hit with new overdraft charges from last month. The banking group previously had three overdraft rates, with the cheapest being 27.5% and this was available to some Club Lloyd members. The other rates that were available were 39.9% - this was the standard rate that the majority of customers were on - and 49.9%. Under the new system, the 39.9% remains in place and continues to be the rate most customers are on, and there is also still be a higher rate of 49.9%. But the banking group has also introduced new rates of 19.9% and 29.9%. It means someone who was on the cheapest rate of 27.5% as a Club Lloyds member, could have now been moved to the highest rate of 49.9% - but some customers have also seen their rate go down to the 19.9% rate.
Daily Mirror
19-05-2025
- Business
- Daily Mirror
Lloyds and Halifax changing bank accounts - and you could lose out on free cash
Lloyds student current account pays 2% interest, while Halifax student bank account pays 0.5% interest - but these rates are being axed from June 2 Lloyds and Halifax will no longer pay interest on student bank accounts from next month. Lloyds student current account pays 2% interest on balances between £1 and £5,000, while Halifax student bank account pays 0.5% interest on all balances above 1p. But from June 2, the banking group will remove these rates - meaning students will no longer earn interest on money held in these accounts. A Lloyds Banking Group spokesperson said: "Our student account comes with benefits such as a fee free overdraft as well as Everyday Offers, providing cashback when shopping at select retailers. "We're also making changes, including some exciting new benefits, when we launch our 2025 Student Account in the coming months." Lloyds is also hiking the monthly fee on its Club Lloyds package bank account from June 2. Club Lloyds is a current account where you pay a monthly fee in exchange for additional perks. For example, you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands. You also get access to the Club Lloyds Monthly Saver which pays 6.25% gross/AER on up to £400 a month, and up to 15% cashback at selected retailers. You currently pay £3 a month for a Club Lloyds account - but this is rising to £5 a month from June 2. The monthly fee is still waived if you pay in £2,000 or more each month. This monthly fee also applies to Club Lloyds Silver and Club Lloyds Platinum accounts, although these also come with additional fees. You pay an additional £11.50 a month for Silver account, and £22.50 a month for Platinum. But in some good news, Lloyds has announced that all Club Lloyds customers will be able to use their debit card to make purchases or withdraw cash anywhere in the world free of charge. This applies when you pay in the local currency - if you choose to pay in pound sterling, you may still be charged. Club Lloyds is a type of packaged bank account that gives you additional perks in exchange for a monthly fee. For example, you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands. You also get access to exclusive savings accounts, including the Club Lloyds Monthly Saver which pays 6.25% gross/AER on up to £400 a month, and up to 15% cashback at selected retailers.
Daily Mirror
09-05-2025
- Business
- Daily Mirror
Lloyds Bank is hiking account fees from next month - how much it will cost you
You currently pay £3 a month for a Club Lloyds account, but this is rising to £5 a month from June 2 - although there is a way to avoid this fee Lloyds Bank is increasing the monthly fee on its Club Lloyds package bank account next month. Club Lloyds is a current account where you pay a monthly fee in exchange for additional perks. For example, you can choose between a Disney+ subscription, six cinema tickets, a magazine subscription, or 25% off certain food and drink brands. You also get access to the Club Lloyds Monthly Saver which pays 6.25% gross/AER on up to £400 a month, and up to 15% cashback at selected retailers. You currently pay £3 a month for a Club Lloyds account - but this is rising to £5 a month from June 2. The monthly fee is still waived if you pay in £2,000 or more each month. This monthly fee also applies to Club Lloyds Silver and Club Lloyds Platinum accounts, although these also come with additional fees. You pay an additional £11.50 a month for Silver account, and £22.50 a month for Platinum. But in some good news, Lloyds removed debit card foreign currency fees from April 14. This applies when you pay in the local currency - if you choose to pay in pound sterling, you may still be charged. 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.' The interest-free allowance on Club Lloyds arranged overdrafts has also increased from £50 to £100. 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." It comes after Lloyds, Halifax and Bank of Scotland customers were hit with new overdraft charges from last month. The banking group previously had three overdraft rates, with the cheapest being 27.5% and this was available to some Club Lloyd members. The other rates that were available were 39.9% - this was the standard rate that the majority of customers were on - and 49.9%. Under the new system, the 39.9% remains in place and continues to be the rate most customers are on, and there is also still be a higher rate of 49.9%. But the banking group has also introduced new rates of 19.9% and 29.9%. It means someone who was on the cheapest rate of 27.5% as a Club Lloyds member, could have now been moved to the highest rate of 49.9% - but some customers have also seen their rate go down to the 19.9% rate.
