Lloyds Bank conversation and feedback!

Hi guys

Interested in hearing from Lloyd’s customers about what features they prefer that Monzo does over Lloyd’s.

Lloyd’s:

App has been redesigned over the past few months, includes cheque imaging and a really nice UI.
Ability to add more products in app.
Support via message (guaranteed response within 1 hour, usually instant).
Calls answered within 1 minute.
Save the change (roundups to a saving account with interest).
Ability to get a low rate credit card, finance if required.

Just curious why one would switch away to Monzo and what Monzo offers over Lloyd’s.

I just got £125 free from Lloyds for opening an account so I have to give them positives in that direction, even if I am going to CASS it into Monzo next week.

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I used to be with Lloyds in my early adult days, they refused to refund a card usage in South Africa despite me clearly spending in my hometown minutes before and after.

Never again.

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From your list:

  • App has been redesigned over the past few mont hs, includes cheque imaging and a really nice UI. Monzo has been redesigned, but no cheque imaging
  • Ability to add more products in app. Monzo has this
  • Support via message (guaranteed response within 1 hour, usually instant). Monzo has support via message, agreed times are sometimes slow
  • Calls answered within 1 minute.
  • Save the change (roundups to a saving account with interest). Monzo has this
  • Ability to get a low rate credit card, finance if required. Low rates are sometimes available from other companies. Lloyd’s don’t offer the most competitive currently

Well Monzo has

  • Budgeting
  • Instant transactions
  • Pots for savings
    Em…
  • Hot coral card

But yeah no credit card yet, no cheque imaging yet, calls and chat lucky dip if you get a quick reply. Loans also a lucky dip, better savings going direct but has in app providers to choose from if you want it in one place. Monzo still doesn’t report to all CRAs either so worth keeping your legacy open rather than CASS imo.

Are all Lloyds calls answered in 1 minute?

Lloyds have a really confusing overdraft structure don’t they?

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Mine have been to be fair, very quick.

That’s a really good incentive as well! Monzo don’t offer that sort of thing, even if it was £25 it would make a difference.

Oh and another point to add, they report to two CRA’s instead of Monzo’s one.

Fastest growing UK bank already, why would you bother?

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People only switch for the money and then switch away

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I think Monzo ran some tests offering like £50 or so to do a full switch last year and I think that they came to the conclusion not to give away free money.

Always best having a burner legacy if you plan on hoovering up the bribes from switching. £175 with HSBC atm.

Just applied for the switch to Lloyds and they want me to go to a branch with ID. The legacy way. Brilliant that they let you spend 10 mins filling out an application with no indication you need to go in to a branch.

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What drove me to go full Monzo for our joint account was a call to Lloyd’s fraud team (off the back of receiving a text advising of suspect transactions) took 20 minutes to answer… Suffice to say, their only justification was “I’m sorry that we were busy”.

I like loydds. Can open 10+ savings accounts. Interest isnt good though but neither is monzos
Had to do charge backs with Lloyd’s and money was in my account the morning after calling. Same with a direct debit I asked a retailer to cancel but they didn’t. The over taken money was in my account next morning

Also they let me increase my credit card often. Which boosts my credit score.

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You can do that at any bank?

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Just to let you know I’ve changed the title slightly - we don’t have a thread for Lloyds specific chat, so let’s use this for that!

Thanks for starting it, @BCMA :smiley:

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The only good thing, 6 free cinema tickets, I closed it 18 days ago

When I had club Lloyd’s - my calls were answered quickly, but even when I said to the automated system what issue I had - it always seems to redirect it to my “club Lloyd’s advisor”

Now that I don’t pay have club Lloyd’s anymore, takes a while longer and the past few people just didn’t give a crap

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