This is certainly the future of banking. I first started using this facility around August of last year and I am really pleased with this service. Convenience has to be the most important factor to me. Being a working parent I have very little time and this service offers a great way to keep track on your finances from the comfort of your own home.
Their website address is www.lloydstsb.co.uk. The homepage is really quite simple and self-explanatory. On this page they offer a wide range of services to name but a few:-
INSUREDIRECT MOTORDIRECT LOANSDIRECT
To register for the first time you have to enter the following details:- full name, date of birth, postcode and telephone number. The form then asks you to fill in your branch sortcode and account number. Then select a password between 6-15 characters
this can be letters and numbers.
If you already use their Phonebank facility you can type in that particular password. Press the “send” button. A user I.D will be sent within a few days, once they have verified your details. If you however already use Phonebank a user I.D number will be given immediately. Quoting that password gives them immediate confirmation you are who you say you are.
Once you have your user I.D number then you can begin.
Click onto Personal Banking, it will then prompt you that you are using a secure site. When you are in a secure site a yellow padlock appears. Enter your I.D number and password and click on the “Logon” button.
All the accounts you hold with Lloyds TSB will be there to view. Click on the account you wish to find more information about. To the left-hand side of the page you can select the following options:-
ACCOUNT LIST -
Shows all the accounts you hold with them.
ACCOUNT DETAIL -
Displays the account balance at the close of the previous days banking.
STATEMENT -
Transactions up to previous day.
TRANSFERRING MONEY -
Transferring money between accounts.
TRANSFERS DUE –
What is going through the system.
MAKING A PAYMENT –
You can use this facility to pay bills.
PAYMENTS DUE -
Payments due to be made.
ARRANGEMENTS –
This organises the set-up in paying the bills.
STANDING ORDERS -
Listing all Standing Orders set up on that particular account.
Lloydstsb have really simplified the site to make it user friendly. It’s a great way to keep a check on your finances. The transactions you see are always from the previous days banking.
Another great facility they offer is the ability to download your statements. Beware though you can only get a months supply. The reason they do not allow you to go back any further as they would lose money as if you require old statements they charge £5 a sheet or they can charge a maximum of £10 to order any statements you request.
The security of the site is most important to the user and I remember watching a programme about on-line banking and whether the sites are secure enough. They carried out a study whereby they got an individual to log into these sites using their own passwords whilst a “Hacker” tried to obtain their password. Lloydstsb came out trumps, as he could not do it, which was much to my relief as I had been using the facility for some time.
I have no complaints with this new way in banking although I do hope that we do not lose any high street banks by their customers using this facility. However good this site is, there are still certain services that cannot be provided such as extending overdraft facilities, mortgage arrangements etc. Personally I do believe that for larger issues these do need to be discussed face to face with your local Account Manager. I also would hate to think this new way of banking could lose jobs in this industry.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: Track account movements and transfer instantly between accounts. Apply for e-savngs account. Disadvantages: Access code device doesn't work overseas
Advantages: They will extend your overdraft without your prior knowledge or permission Disadvantages: That overdraft will then cost you darely should you ever fall into financial difficulties
Advantages: I can check my balance or whether a payment has gone out without leaving the house. I can also set up a full months bill payments in one go. Disadvantages: I still have to go to town to get money out - unfortunately I can't see a solution to this problem
di-buzz 20.07.2001 ·
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Ciao members have rated this review on average: helpful
Review of LloydsTSB
Advantages: A hard copy statement can be printed out. Disadvantages: No identification of who has been paid, or paid you, although this information is provided in the normal monthly statement sent by post.
very helpful by (83%):
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