Lloyds rate dropping

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  • joe134
    joe134 Posts: 3,336 Forumite
    apt wrote: »
    Club Lloyds fee will be £3 per month if you do not have 2 DDs or pay in £1500.
    So, The a/c has to be closed, by letter,or phone, or the fee is still due, if you stop dd's and the £1500. unlike their other accounts, which you can, leave open, without dd's and monthly payment, and empty, like Vantage, which I have 2, empty?
  • Ed-1
    Ed-1 Posts: 3,867
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    joe134 wrote: »
    So, The a/c has to be closed, by letter,or phone, or the fee is still due, if you stop dd's and the £1500. unlike their other accounts, which you can, leave open, without dd's and monthly payment, and empty, like Vantage, which I have 2, empty?

    You only need to pay in £1500 to avoid the fee. The DDs are relevant to interest.
  • joe134
    joe134 Posts: 3,336 Forumite
    edited 12 October 2016 at 9:29AM
    Ed-1 wrote: »
    You only need to pay in £1500 to avoid the fee. The DDs are relevant to interest.
    Hi Ed-1.
    The point I am trying to make is, what if , as I will probably, not want the A/c anymore,after the rate drop, do I,et al, have to write to close it, because stopping the £1500, and DD,s and money, still leaves the A/c open, and club fee liable, on an empty a/c?
  • Unsurprising but disappointing, thanks for the heads up OP. Had a good run there at least. More P2P beckons, as well as learning about the stockmarket.


    Investing in debt is not the greatest idea right now...
  • Ed-1
    Ed-1 Posts: 3,867
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    joe134 wrote: »
    Hi Ed-1.
    The point I am trying to make is, what if , as I will probably, not want the A/c anymore,after the rate drop, do I,et al, have to write to close it, because stopping the £1500, and DD,s and money, still leaves the A/c open, and club fee liable, on an empty a/c?

    You don't mind giving up the lifestyle benefit then?
  • joe134
    joe134 Posts: 3,336 Forumite
    edited 12 October 2016 at 9:42AM
    Ed-1 wrote: »
    You don't mind giving up the lifestyle benefit then?
    No, only give the tickets away.
    how long before that's stopped?
  • At least Lloyds have kept the rewards,I take the cinema tickets which saves" me about £50 a year.Would have walked if they had cut that as well as the interest rates.

    Also have Santander,TSB ,and Halifax accounts...just added up I will "loose" about £400 + in interest next year :(

    Apart from Tesco and BOS at 3% ( which will probably change ) ....shoving it all in Premium bonds and having no hassle of DDs or minimum pay ins is looking like an option.

  • Apart from Tesco and BOS at 3% ( which will probably change ) ....shoving it all in Premium bonds and having no hassle of DDs or minimum pay ins is looking like an option.


    Except rising inflation over the coming years may well erode the real terms value of your pot with the current average 'return' being 1.25%
  • Kendall80 wrote: »
    Except rising inflation over the coming years may well erode the real terms value of your pot

    This is exactly what I am worried about. P2P has been just fine for me but definitely going to pull the trigger on s&s isa soon to work together to beat inflation.
  • karlie88
    karlie88 Posts: 9,113
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    Sell the Lloyds cinema tickets on your local Facebook group for £50.

    So you're effectively getting 3% interest on the current account. :)
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
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