Help with LTSB Regular Saver

sunshowers

Hello everyone!

I have a regular saver at Lloyds TSB, which was being funded every month through my Halifax current account. I had no problem with this for over a year...but this month I got a letter from Halifax saying that the Standing Order was sent back to my current accountfrom LTSB 'for reason not known'.

I tried sending it through again, but I got another letter. I have no idea what the problem is, and was hoping someone here could help...

I want to avoid going into LTSB (unless I have to) because they will probably say that the regular saver cannot be funded from outside LTSB.

Please help! What should I do?

Thanks alot in advance, and merry christmas :xmassmile

Lansdowne

Might it be the regular saver a/c is one of those that only accepts deposit for 12 months and no longer?

sunshowers

Hi Lansdowne, it's a 2yr monthly saver, due to mature in Feb 2009.

Lansdowne

OK then it was just a thought, that you'd exceeded the amount allowed. Must be something else then.

anniecave

sunshowers wrote: »

I want to avoid going into LTSB (unless I have to) because they will probably say that the regular saver cannot be funded from outside LTSB.

Please help! What should I do?

Sounds like LTSB are the only people who will know the answer to this. You might have to ask!

Alternatively, do you still have the LTSB current account? If so you could send a payment to there, and then do a transfer over to the Regular saver, and see if that works?

sunshowers

Ok thanks, will give that a go!

If not, it's off to LTSB..

torbrex

I have exactly the same problem.
It would appear that HBOS sent Novembers payment using the new Faster Payments system and LTSB accepted it but when Decembers payment was sent the same way it was rejected because of a fault at LTSB, it would seem that they are not completely ready to accept the FP's, I have tried 4 times so far this month.
The problem now is that because they have accepted one payment this way the HBOS system will not revert back to standard SO's and argue as I might I cannot get my branch to revert back so that I can complete my 2 year term (also Feb).
I have kicked up a stink at my LTSB branch as well and they are 'looking in to the matter' they have told me that if I do manage to get my money transferred I will not lose out on any interest.

sunshowers

Thanks torbrex.

If that is the case, then an SO from the LTSB current account to the regular saver may work. That would at least take care of this month's payment.

If nothing else works, future SO's might have to be done the same way. This shouldnt be too much of a problem as the account matures in Feb.

Will probably go in tomorrow to try to sort out a similar assurance with the lost interest. Thanks!

SilentMinority

I had this problem with a Faster Payment getting rejected on 1st December and sending the payment via a LloydsTSB current account worked.

I setup a Standing Order to go ASAP from the LTSB current Account to the Monthly Saver and it happened 2 days later.

I suspect the software, that manages the Monthly Saver for LTSB, sometimes counts the first day or two of a month as the end of the previous month, possibly to avoid customers missing a monthly payment by a day or two due to a system delay.

Don't bother trying to ask LTSB staff about the month end overlap thing, they still won't believe that you can use an external account.

ironmongem

I've had exactly the same problem with a standing order from HBOS to my LloydsTSB monthly saver. I spoke to LloydsTSB a couple of days ago and they've just called me back to say that they can't find any reason why the standing order was rejected. The lady who called said she'd spoken to several departments and no-one could find out what the problem was! All she could suggest was that I speak to HBOS.

Anyway, I've reverted to transferring via the LloydsTSB current account.

JeanieM

I too have had same problem with my SO from HBOS to Lloyds monthly saver.

Lloyds still cannot get to grips with problem so I have decided to send it from my Lloyds Current Account from now on.