We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Lloyds changing Vantage
Randy
Posts: 210 Forumite
Lloyds are moving their Vantage Goalposts.. from June 27th they will no longer pay interest on balances above £5,000
Sneaky Beggars :mad:
Sneaky Beggars :mad:
0
Comments
-
It's not really sneaky seeing as they are sending out letters to everyone.Lloyds are moving their Vantage Goalposts.. from June 27th they will no longer pay interest on balances above £5,000
Sneaky Beggars :mad:
You should remember it's people abusing the offer that have most likely caused this too, people opening phantom accounts for example...0 -
There is a post about 12 lines below this one containing around 42 messages having been read 3600 odd times endlessly discussing all about the Vantage change which was announced some time ago before, as the previous poster said, Lloyds started sending letters to all owners of such accounts advising them of the change.0
-
And a couple of others, too.ChiefGrasscutter wrote: »There is a post about 12 lines below this one containing around 42 messages having been read 3600 odd times endlessly discussing all about the Vantage change which was announced some time ago before, as the previous poster said, Lloyds started sending letters to all owners of such accounts advising them of the change.0 -
It's also worth pointing out that I got my Lloyds letter today - giving 27th June as the date of change - which is a full 2 months as required for such a change by the regulations now in force. BUT (as above) Lloyds has made no secret of this in advance (as they could have done) and customer have therefore had - in effect - two or three additional weeks notice. That is more than fair in the circumstances......under construction.... COVID is a [discontinued] scam0
-
Like this one.ChiefGrasscutter wrote: »There is a post about 12 lines below this one containing around 42 messages having been read 3600 odd times endlessly discussing all about the Vantage change which was announced some time ago before, as the previous poster said, Lloyds started sending letters to all owners of such accounts advising them of the change.0 -
Woun't it of been more elegant, customer focused!! ... etc, for them to change the rates on 1st July rather then the Monday before - 27th June - so savers would get the full months interest!!
But then we are talking about .... bankers0 -
Woun't it of been more elegant, customer focused!! ... etc, for them to change the rates on 1st July rather then the Monday before - 27th June - so savers would get the full months interest!!
But then we are talking about .... bankers
Interest is calculated on the days that it is earned, and not (just) the day that it's paid.
So for your interest paid at the start of July, you'll be accruing it at the current rates and tiers until 26th June, and then it's only the final few days of that interest period that'll be calculated at the new rates.
In short, it makes no difference at all. Move your money out on or before 27th June, and you'll still get interest at the current rates for all the time that the money is in the account.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards