Lloyds TSB Select Bank Account Review

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1.3 stars
Average rating for this product is: 1.3 out of 5

From 1 rating and 12 reviews

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sazz1985's Review of Lloyds TSB Select Bank Account

17th Jan 2007

Overall Rating

0.5 stars
  • Customer Service
    1 stars
  • Ease of use
    0 stars
Good Points

None


Bad Points

International call centres
Charges
Being charged £7 just to use your account


General Comments

First of all, when I opened a Lloyds TSB Select Bank Account, my name was misspelled on my card. It took me 45 minutes, and I was passed round to 5 people for this to be resolved. I was aware there was a charge for this type of account, and I didn't mind paying it, as the benefits attracted me, but when I opened the account I was told the charge was £3.50, and then I was charged £7. When I rang up to ask why, they said the £3.50 was an offer for the first 3 months. It would have been nice if the bank manager would have told me this when I open the account. Overdraft charges are sky high. They used to let you go overdrawn by £10 before charging you. They have now removed this. I have never been overdrawn before, and I went overdrawn by £1.50 and was charged £30 plus interest. Finally, their online banking is awful. It's hard to make payments, the site is confusing, and if you forget your details you have to wait 7 days to be posted a code to get back in.

There are much better banks out there.

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
Alliance & LeicesterPremier Direct AccountEarn a great rate of 6% AER (fixed for one year) on balances up to £2,500.Monthly6.00%0.00%£2,000.00
Alliance & LeicesterPremier CurrentEnjoy Free annual multi-trip European travel insurance and earn 0.50% AER on balances up to £2,500.Monthly0.50%0.00%£2,000.00
NatwestNatwest Advantage Gold AccountEnjoy benefits worth up to £704 for just £12.95 a month. Including Mobile phone cover, Travel Insurance and even tailored rates on other Natwest products.Monthly0.25%18.49%n/a