ok for keeping your money but........ (Lloyds TSB)

Member Name: utero

Product:	Lloyds TSB
Date:	02/12/00 (32 review reads)
Rating:

Advantages: good online banking

Disadvantages: had a bad and lenghty account situation

I've banked with lloyds for about 8 years now. For just basic account purposes they are as good as any bank. Their merger with TSB means that there are now many more cashpoints which you won't have to pay an inflated charge to use. THey've just introduced online banking and the site runs quite smoothly. I can check my balances, statements and pay off bills and do transfers in one easy visit. It's very handy.
However in the past year i had a lengthy problem when I opened a new savings account to save up to go to the USA. They have an account with benefits such as free travel insurance. An offer that appealed to me in my circumstances. It also had a good interest rate. But of course there were certian criteria you had to meet.
After discussing it in depth with a rep I was sined up for this account. Suddenly I was being told I needed to keep £1000 in the account or I would be charged £8.00 a month. Suddenly I had another account opened with money transferred. I got sent new cards and had cards stopped. It all got pretty complicated and it took them two attempts to sort out the problem. I took a letter of complaint for them to resolve it though. My compensation for interest lost was a small £10. This experience has made me weary of usuing the bank for any future advanced financila decisions I have to make.

Summary: