Face longer waiting times on the phone;
Be put through to a less experienced call handler when they do eventually get through;
Be less likely to be given a same-day branch appointment;
Be encouraged to use ‘self-serve’ solutions, such as apps, rather than telephoning or using a branch.
Then also goes on to say those who don’t have any borrowing with interest attached etc (overdrafts, loans, credit cards or mortgages) would be encouraged to use self serve options or wait a little longer.
What I see is detriment for those who are being charged interest and moral high ground to serve those who could be impacted by failure or difficulties opposed to someone else who wants to check their balance or order a statement.
Above, the less experienced call handler is also poor wordplay.
Someone on the online helpdesk wouldn’t need to know about setting up a plan for their overdraft or credit card, so essentially yes, they would be lower skilled but more niche.
Lloyds have been going through this change for some time now, it’s not a lower end service as such, more a focus on those who need it most.
I am not sure it was anything premium about it. It had different card, access to some better-rate products (advantage CC, and maybe different savings and mortgage rates), but it is a worse deal than i.e. Santander 123 account or Club Lloyd.
There were separate phone numbers, but as far as I could tell they still went to the same call agents.
I got a HSBC Advance account when they launched. Full of bells & whistles. Then over time, HSBC realised soemthing was very wrong with the Advance platform and stopped providing the whistles. It didn’t improve, so they stopped the bells too. By the time they had sliced and diced the account, it was more ‘HSBC FA’, as in, that’s what you got with it.
In comparison to this £7 a week, RBS Reward Silver for £10 a month (£5 effectively if you have 2 DDs) gives you fee-free spending abroad, plus mobile insurance, breakdown cover and European travel insurance.