Lloyds platinum account holders beware

Discussion in 'Finance, Property, Law' started by CHENMP, Aug 7, 2007.

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  1. If you have a platinum current account with Lloyds you will no doubt be aware that it says it gives you Free Holiday Insurance Free card cover, free AA membership etc.

    However if you dont live in the Uk you are not covered for any of the above. To be covered for holiday insurance all journies must start and finish in the UK.

    So if you live in Gemany you will not be covered. lloyds will not tell you this unless you ask and will happily sent your bank statements to a BFPO address. Which will inform you that you have been charged £15.00 for cover which you cannot use.
     
  2. Thanks - at the moment I am in UK, but it is useful to know these unadvertised restrictions. I am sure it is in the small print, and some sanctimonious poster will pop up in a minute telling us it is our responsibility to read the small print, but back in the real world...
     
  3. Also check your Credit Card Insurance policies, Sentinel Credit Card insurance only offers a change of address service to those not living in the UK, so no credit card cover and no replacement cash service etc. Again read the small print or give whatever institutions you do banking/insurance with a call if moving outside the UK.
     
  4. ViroBono

    ViroBono LE Moderator

    Some travel insurers may be willing to extend the medical repatriation part of a policy to include repat to BFG provided the cost is no more than it would be to repat to UK. However, you need to contact them first.

    On the other hand, ADAC's travel policy is very good indeed, and probably cheaper.
     
  5. Alternatively, check the small print on the contract you signed with Lloyds TSB in the first place. It'll point out this to you in glorious detail.

    Or even follow my link to the T's & C's: http://www.lloydstsb.com/media/lloydstsb2004/pdfs/platinum_imp_info.pdf

    Hoenstly, people always act as if the banks lying to them. They're not. it's all there in black and white, you just need to read the damn document.
     
  6. Goon, you sound like a barrel of laughs...
     
  7. The charge of £15 is only incurred if you drop below a smallish minimum balance.

    The package also includes breakdown insurance and other 'perks' but, as you say, they are probably not applicable in Germany. The question you should ask is why do you need a Platinum account - the holiday insurance etc can be purchased more cheaply from specialist providers

    PAW
     
  8. Move back to the UK and get off of the gravy train then. As if you aren't raking in enough cash. It will be a real shock when you finally do return home, and start to get fleeced at every opportunity.

    No tax free cars and cheap holidays here, old chap.
     
  9. Ditto on PAW's comment. I think you've been oversold the account on the account benefits.

    I would look back at who 'sold' you the account upgrade. Did they know you were in the services? Did they know the restrictions on the account themselves? You might have a claim to downgrade to a more appropriate account and ask for a refund on the account charges.
     
  10. Ah, Sarnian, I just get annoyed with endless bank bashing, when all the facts are in plain sight. It simply doesn't make sense.

    Anyway, I've come to realise that your dislike of automatic weapons and love of precision target shooting is far more enjoyable than initially thought.

    Wait, no I haven't. :D Poor attempt at a riposte is amusing. Have you been waiting for me to say something you can make that response to all this time? Now you must be a barrel of laughs if that's the case! :D
     
  11. If you feel that you were mis sold follow the advice from the Financial Services Authority here: http://www.moneymadeclear.fsa.gov.uk/guides/making_a_complaint.html
     
  12. ViroBono

    ViroBono LE Moderator

    EHIC should be a pre-requisite for any travel in the EC, even (especially) for those based there. However, it's worth noting that it never covers repatriation, which can be expensive. Even if you don't need any of the other aspects of travel insurance, you do need medical and repat cover.
     
  13. I agree with every one that says i should have read the small print. All i am doing is hopefully saving others from having to do that with this account. Im sure we all take the time to read the small print !!!

    As for getting of the gravy chain i did that a year ago and jumped on a bigger one the FCO.

    I know live abroad rent free in a house with pool and sauna , dont pay for any utilities and get £19000 in tax free allowances plus a 4 grand travel package. But thanks for the advice.

    If you are intrested in joining the FCO are recuiting for security managers now. ( But read the small print )
     
  14. You can definitely afford to keep the account, mate. :)