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New Lloyds Vantage current account
Comments
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Yes it does qualify.0
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So if the payment day falls on a weekend I presume they don't pay in?0
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If you're talking about interest there's no need to "presume" anything...So if the payment day falls on a weekend I presume they don't pay in?
You'll see your interest late Monday/early Tuesday morning.For each month that you meet the Vantage conditions, you will qualify for credit interest in that monthly billing period which runs from the second working day of a month to the first working day of the next month. This means we will work out interest on a daily basis at the relevant Vantage interest rate from the second working day of that month and pay it to your account at the end of the first working day of the next month.
Vantage T&Cs0 -
Thanks for that YB - however does this mean that I need to do my £1,000.00 cycle through the Vantage accounts on Monday or Tuesday? I've done it just now but can easily do it again later if needed.
Sorry to sound confused...but I am!0 -
If you read the T&Cs that YB has kindly provided the link for, you will see that you need to "pay into your account at least £1,000 during the calendar month"
"During that calendar month" means any day in a month. Obviously, if you want to (and can) earn interest on the £1K, the earlier in a month you pay in, the more interest you will get.0 -
Thanks Innovate - my confusion was after reading the T&Cs as they variously mention 'calendar month' and then 'billing period' which seems to indicate two different time periods.
Now I still don't really understand but do understand that it doesn't matter too much and that I am OK with my cycling the funds today. As all three accounts are fully paid up the money has just been moved through them. Still have spare to pay the DDs and to fund two regular savers so all is well.
Once again - thanks!
:beer:0 -
In your case (as with mine as I'm also maxed out at 3 x £6K), the best day to make your transfers is the day the interest is paid...be it the 2nd, 3rd, 4th, or whatever of the month.Now I still don't really understand...
As all three accounts are fully paid up the money has just been moved through them.
Being as you need to syphon off the interest you may as well make the transfers on the one visit?0 -
I prefer to make the transfer once I been paid, then I transfer it through all 3 of my Vantage accounts, then Nationwide and finally into Halifax and landing in my Halifax Online saver.YorkshireBoy wrote: »In your case (as with mine as I'm also maxed out at 3 x £6K), the best day to make your transfers is the day the interest is paid...be it the 2nd, 3rd, 4th, or whatever of the month
The interest made during the month is soaked up by the DDs that month, so no need to syphon anything off.0 -
I prefer to make the transfer once I been paid, then I transfer it through all 3 of my Vantage accounts, then Nationwide and finally into Halifax and landing in my Halifax Online saver.
The interest made during the month is soaked up by the DDs that month, so no need to syphon anything off.
Thanks - doing the transfers on the day the interest is paid makes perfect sense.0
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