Overview

• From August 4, Club Lloyds Platinum holders will lose the £5 monthly discount and pay the full £22.50 fee, taking annual costs to £270.
• New customers who switch to a Club Lloyds account by Monday can earn a £185 cash bonus plus an annual perk, though the £5 monthly charge applies unless they pay in at least £2,000 each month.
• Lloyds launched its Premier account on July 1, offering a full refund of its £15 monthly fee for customers who deposit £5,000 per month or maintain £100,000 in eligible savings or investments.
• The fee adjustments and new incentives follow a Bank of England base rate cut in May that prompted UK banks to tighten qualification criteria and boost packaged account charges.
• Packaged accounts still include benefits such as fee-free overseas spending, insurance cover, lifestyle perks and cashback, but now require higher deposit or savings thresholds to preserve these features.