As a Lloyds customer there are quite a few different bank accounts you could have selected, or been sold. The Premier Account is a packaged bank account offering quite a few benefits (see full list below), as it’s one of the top of the range Lloyds bank accounts. It was priced at £25 per month. This account is no longer available.
Common ways the Lloyds Premier Account was mis-sold
As a requirement if you wanted a Mortgage, Loan or Overdraft
We have many customers who went to Lloyds requesting some kind of borrowing only to be informed that in order to qualify for the product they were required to upgrade their account to a Premier Account.
This was incorrect, as the decision as to the customers eligibility would have been made with no bearing as to the flavour of account they possessed, hence a mis-sale.
A favourite trick of many banks including Lloyds was to start customers on a cheaper PBA (packaged bank account), such as a Select / Silver, and then over time send the customer notification – usually via post, that their account was being upgraded to the next level. 2 or 3 upgrades later, the customer has gone form a £7.50 per month account to a £25 per month account, without even contemplating any upgrade, or lifting a finger to make it happen!
Although Lloyds will justify this using their terms and conditions this is clearly a very tawdry method of profiteering, with no regard for treating the customer fairly.
Take your pick….
Customers have reported being upgraded for a myriad of reasons. In fact you could have gone into your local branch of Lloyds with virtually any request or problem and come out with a new Premier packaged bank account for your troubles.
I think that Lloyds mis sold me my Premier Account – what can I do about it?
If you feel your account was mis-sold and would like to claim back the fees you paid, and 8% interest as a compensation you can complete our online claim form and get the claims going straight away. We’ll give you a 4% discount of our fees for completing the form online. Alternatively you can call our helpful customer consultants on Freephone 0800 007 3777.
Do I qualify for a refund on my Premier Account fees? Fill out the form and we’ll get back to you
Benefits that came with the Lloyds Platinum Account
- Worldwide travel insurance
- Breakdown cover
- Mobile phone insurance
- Home emergency cover
- Planned overdraft
- Card loss assistance
- Identity monitor
Lloyds Bank no longer offer the Premier Account at time of publishing.