Lloyds Bank Insurance
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Profit above customer service!
Lloyds obviously are not content with the huge profits they already make because they are now closing their Treasurers Accounts (free banking) for clubs, with an automatic transfer to the Community Accounts (NOT FREE BANKING). Treasurers accounts are used by many small and struggling clubs, especially since covid hit. Free banking for these very small clubs is invaluable and Lloyds could be proud of themselves for providing a valuable community service. Not any more! The “maintenance charge” for a Community Account alone is 6% of my club’s total annual income from membership fees, plus on top of this are the charges for manual transactions in and out of the account. We transferred our account to Lloyds a couple of years ago because there were no charges. I will now be moving our account again, to the local building society who do have a civic conscience and will not be charging any fees for operating our account!