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Unexpected interest on Lloyds Classic a/c

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raybarrow
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Unexpected interest on Lloyds Classic a/c

#424853

Postby raybarrow » July 5th, 2021, 8:17 am

Hi Folks,
Has anyone else received unexpected interest on Lloyds Classic a/c?
We have a joint Lloyds Club a/c - interest if £1500 paid in per month and 2xDDs set up.
We each also have sole Lloyds Classic a/cs, for convenience about a £1000 in each. They were, way back, Club A/cs but the 2xDD requirements was too much messing about so we downgraded them to Classic a/cs. No interest paid since 2019 but no 'pay in' and DD requirements. 1st July 2021 we have received interest, it's tiny 41p on approx a £1000 so no big deal but could be a bonus because they are closing our local branch? (not a serious question).

Apart from a 'computer' error, anybody any ideas?
Ray.

AleisterCrowley
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Re: Unexpected interest on Lloyds Classic a/c

#424903

Postby AleisterCrowley » July 5th, 2021, 10:20 am

Are you sure it's interest and not 'cash back' ?

raybarrow
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Re: Unexpected interest on Lloyds Classic a/c

#425141

Postby raybarrow » July 6th, 2021, 8:29 am

Hi AC,

Definitely not cashback. Our Lloyds Classic a/cs are just 'holding' accounts. Very little action takes place on them. Used to use them for odd bits of interest that took a/cs like TSB over their 'interest paid up to£???' threshold. Since all those nice interest a/cs 'died' very little usage.

Another interesting thing just occured. When you have a Lloyds Club Bank a/c you join the associated 'Lloyds Club' which has 'perks'. Most of which are of no interest to us, but the free cinema tickets are. We have received this years allocation on our Joint Lloyds Club Bank a/c and Mrs B's Lloyds Classic a/c which stopped being a Club a/c back in 2019. I wonder if the two systems (you have a separate login) don't tell each the full story? I wonder if I'll get my cinema tickets soon?

Wouldn't surprise me as daughter's TSB (used to be LloydsTSB remember) Under 19s a/c still pays interest on up to £2500, even though she has had a Student a/c and now a Graduate a/c and a job. Their website says something along the lines of 'Don't worry we will write to you to offer you a Student A/c etc. etc. and take care of everything' They did, but omitted to close the Under 19s A/c.

Really doesn't surprise me that banks 'crashed and burned' taking the economy with them all those years ago.

Ray

AleisterCrowley
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Re: Unexpected interest on Lloyds Classic a/c

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Postby AleisterCrowley » July 6th, 2021, 10:27 am

I've got a Club Lloyds account - just the bog standard one . There seem to be many different favours -Platinum, Diamond, Plutonium, Kryptonite...all with slight differences to benefits and interest rates
They have moved from Avios to Cashback 'recently' , hence the suggestion.

tjh290633
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Re: Unexpected interest on Lloyds Classic a/c

#425297

Postby tjh290633 » July 6th, 2021, 6:23 pm

AleisterCrowley wrote:I've got a Club Lloyds account - just the bog standard one . There seem to be many different favours -Platinum, Diamond, Plutonium, Kryptonite...all with slight differences to benefits and interest rates
They have moved from Avios to Cashback 'recently' , hence the suggestion.

I read the conditions. Cashback will automatically be paid into your account, once a year in January.

TJH


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