Premier bank accounts... are they worth it?

[968CSReading]

I have a Lloyds Platinum account for £12 a month.

I get free travel insurance fo the family, free RAC cover (not the bogo cover ether) and free mobile phone insurance for both of us.

I think its good value.

No other benefits but it works for us.

[NDA]

MRSNEAK said:

swerni said:

NDA said:

Private banks tend to require a fairly substantial income and/or assets. Those banking there are not generally looking to save on the cost of cashing a cheque - it's more the ability to be £150k overdrawn occasionally without being made to feel like some guilty schoolboy.

Having said that, I used to be with the same bank as you.

Clearly they don't always get it right

May we ask which one this is?

Coutts. I think they now require £500k of liquid capital or £5m of assets, I'm unsure what other 'premier' banks require.

[NDA]

swerni said:

But you do get some nice wallets, folders, keyrings and a pretty cheque book


oh and free banking

It's only free if you have a balance over whatever it is. I pay so little attention to the charges - which was my earlier point really. Customers of 'premier' or private banks don't really give a toss that they charge you or not for cashing cheques, it's more the ability to just ring up your manager and be able to tell them to plonk some cash somewhere or borrow some. No Indian call centres or spotty twits in a high street with gelled hair and an earring aged about 14 asking you about your financial position.

[anonymous-user]

swerni said:

NDA said:

swerni said:

But you do get some nice wallets, folders, keyrings and a pretty cheque book


oh and free banking

It's only free if you have a balance over whatever it is. I pay so little attention to the charges - which was my earlier point really. Customers of 'premier' or private banks don't really give a toss that they charge you or not for cashing cheques, it's more the ability to just ring up your manager and be able to tell them to plonk some cash somewhere or borrow some. No Indian call centres or spotty twits in a high street with gelled hair and an earring aged about 14 asking you about your financial position.

Was making the free banking point for the benefit of others. The assumption is that private banking comes at a cost.
As you said, your manager is key. I followed mine to his new bank when he left about 5 years ago.

If Coutts is the pinnacle of banking, where does one go after Coutts?


ps your son is like a mini you

[Adam B]

Paddy_n_Murphy said:

one assumes if you are in that 'bracket' of life, most of the mundanities that the 'Premier accounts' offer are otherwise covered already. - Mobile phone Insurance? Who cares / company phone. etc etc. For MUGS IMHO

don't consider myself a mug thanks very much, my "premier" account is available to all who can afford a tenner a month, and I want travel and phone insurance so it pays for itself already - other benefits are therefore free

[NDA]

swerni said:

ps your son is like a mini you

He is isn't he? An adorable little fellow and a carbon copy of me and my father when we were 7.

[citychap26]

Hi,

Very happy with Natwest Private banking, great service... Have a fantastic RM. Access to great rates on loans, home insurance, super mortgage rates, green flag. mobile phone insurance (which I've never used).

Hope this helps.

Cheers

Sunil