57/03 6 May 2003
LLOYDS TSB LAUNCHES PREMIER BANKING
Lloyds TSB today announces the launch of its new Premier Banking Service for mass affluent1 customers. Centred around a dedicated relationship manager, the new service offers a current account with 3.2 per cent credit interest2 and a package of benefits as well as financial products and services tailored to the needs of these customers.
“We have recognised that these customers face complex financial situations so not only will their Premier Banking relationship manager have an in-depth knowledge of their individual circumstances but financial help will be available via a dedicated 24 hour telephone service seven days a week” says Simon Markey, head of Premier Banking, Lloyds TSB.
“Premier provides the ultimate banking package for this important and growing group of customers, who have more money but less time than most people” Simon Markey continues. “With its wide range of benefits, it is the most comprehensive service available to the mass affluent from any bank.”
For just £15 a month2 Premier Banking customers can benefit from a suite of features including:
· 3.2 per cent AER credit interest2
· £250 interest free overdraft buffer
· Free comprehensive AA breakdown cover and annual worldwide family travel insurance
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LLOYDS TSB LAUNCHES PREMIER BANKING …./2
· Premier Will writing service3
· Premier Tax facilities offering help with tax return completion3
· Online share dealing service3
· Investment planning service
· Premier Mastercard
· Preferential rates on loans and savings
· Premier Home Insurance
Lloyds TSB Premier Banking will be available in all Lloyds TSB branches by the middle of the summer4. For more information, click on to www.lloydstsb.com
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Notes to editors:
1 Premier Banking is available to anyone with a sole income of £60,000+ or couples with joint combined incomes of £80,000+ or to those with assets worth between £100,000 to £250,000.
2 3.2 per cent AER is paid on balances up to £5,000. The £15 a month fee can be waived if a customer keeps £5,000 a month or more in their current account, but the 3.2 per cent credit interest will then be forfeited and 0.1 per cent interest will be applied.
3 Additional fees apply – see below for details.
4 Premier Banking is being rolled out across the country over the next few months.
· In detail, the main features of Lloyds TSB Premier Banking are:
· Premier share and fund dealing online, for a flat fee trade price of £12.50, is association with comdirect ltd. It provides a share dealing service that is suitable for both serious investors and enthusiasts and allows customers to deal via the telephone or internet in addition to the facility to track share performance free of charge.
· Premier Will Writing Service provides customers with access to specialist help through the solicitors Irwin Mitchell for £69 (inc VAT) for a single will and £99 (inc VAT) for a mirror will.
· Premier Tax Service through KPMG for a flat fee of £195 (exc VAT) offers facilities to complete customers’ tax returns and to claim all appropriate entitlements and exemptions and liaise with the Inland Revenue.
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· Premier Travel Service offers free annual worldwide travel insurance for Premier customers and their family including winter sports as well as valuable discounts on package holidays and commission-free travellers cheques and currency.
· Premier Banking also offers AA Breakdown Cover providing breakdown assistance 24 hours a day, every day of the year. The cover also includes 72 hour European assistance, Relay Plus and Home Start.
· Premier customers also get 180 day purchase protection on purchases made with both the Premier debit and credit cards.
· Premier Home Insurance buildings and contents insurance, tailored to suit individual needs for larger and more unusual properties, can be purchased.
· Investment Planning Service provides access to a dedicated Lloyds TSB Financial Planning Manager as well as a range of SW products and services. Further referral to an IFA can be made if required.
· Premier customers can take advantage of an exclusive range of specially priced Premier banking products such as personal loans and savings accounts.
· Premier Mastercard – fee free with the option of extra packages, such as concierge services and other discounts for additional fees.
· Customers also receive valuable discounts from the Premier Banking Home Shopping service and reduced prices on new cars from CarSelect.
For more information:
Catherine Battershill/Rowena Denham
Lloyds TSB Press Office