LTSB Classic Plus 4% - Joint accounts??

Newbird

Can anyone tell me if they have a joint 'Classic Plus' account with LloydsTSB?

I picked up a leaflet in branch to apply for the top current account which pays 4% if you meet the funding criteria. I was told this must be applied for and run online, not a problem - but the account would be for my 2 sons and the application form (in the leaflet) confused me as it states right next to applicants name 'Sole Account'. Online info states:
"The account is solely for my own use and is not required for business use."

In common with most personal accounts - applying to single and joint accpounts....

When I queried this (joint names) with branch staff, they said it was possible to apply singly, then add another name to the account once it was open. I said this would be no use to us as reading the leaflet the bank 'invite' you to open this account dependant on status/funding, and if one son applied for a sole account it would likely not be granted (obv easier to fund it as a joint account - 2 incomes etc.) so it was a waste of time applying singly.

Still with me?....

So why can't it be applied for as a joint account? (yes I know they want to cherry pick customers.)

Well, the staff were puzzled, asked each other, looked collectively clueless and said they would ring the head office/helpline number on the leaflet. I couldn't hang around and as it was an 0800 number, I left saying I would ring it later myself at my convenience, to a chorus of, 'OK, please come back and tell us what the outcome is...' from the staff!

Not actually rang them yet, but wondered if anyone can shed any light on this for me?

My sons share a house and bills, and wish to fund a joint account together, to take care of the household bills, pay by DD etc. while (of course) earning interest on the balance.

So can they have a 4% joint account with LTSB or not??

We can't apply for A&L as younger son is not yet 21. LTSB age is 18.

jonesMUFCforever

In short they can have a joint account if they want!
1 They have to pay in at least £1k per calendar month into account
2 All parties have to be clean credit score wise
3 They have to register for online banking and log in at least once a quarter.
Just tell them to open a normal classic account (bog standard current account) when it is open you can upgrade online to a Plus account leaving out the branch staff from the loop.
Just remember points 1 and 3 or the credit interest will not be applied.
Easy peasy!

Newbird

Thanks for that ejones - we will do what you suggest.

I'm pleased someone was able to help, I'm grateful - and also for the site which seems to be able to answer just about anything! :T

jonesMUFCforever

Just one other point if they open an new to bank account and you introduce them you both could get £40 each.