Help with LTSB Regular Saver

nobby24

Good luck if you have to contact LTSB, I left them earlier this year because I found their customer service atrocious.

an1179

Hi when I took out my regular saver I understood from the T&C's that you had to fund it from your Lloyds/TSB current account

LittleVoice

an1179 wrote: »

Hi when I took out my regular saver I understood from the T&C's that you had to fund it from your Lloyds/TSB current account

Some "advisers" were saying this but it wasn't actually written in the T&C. (However I think you may have needed to have an LTSB current account in order to open the account in the first place.)

I did use the LTSB current account route because it was one way of using part of the £1K/month minimum deposit required for the current account I opened. Others, as in the posts above, funded direct from external accounts.

torbrex

Told by LTSB that problem has been fixed and SO can go directly into my monthly saver in Jan with no problems.

torbrex

My Jan SO has been rejected by LTSB so in spite of 2 letters and being told verbaly it would seem that the faster payments system is still not working for payments into the monthly saver.

Dru2

hi, I don't know if I'm in the correct thread here but, I hope someone can help as a matter of some urgency. I opened a Lloyds/TSB MONTHLY SAVER (8% fixed for 2 yrs) on 9th March 07 having seen it on Martin's top tips. This was the very last day the 2 year Monthly Saver was available. I also introduced my OH and one of his friends. We were self-funding through our Lloyds Classic current accounts so everything has gone soothly and they have just matured this week. However, the friend who should have had the same amount of monies and interest in his account (we have paid full whack allowed and not withdrawn any monies over the term) has come out with much less than expected. The reason is, LloydsTSB sent his SO back to his Halifax account on 22nd Dec 08 (yes - the day before xmas!) and did not inform him it had been refused (no letters no phone call no email) Consequently, Jan 09 and Feb 09 have not gone out . This means that, unbeknown to him, the funding had stopped and, a meeting at Lloyds/TSB say it's because you cannot fund this account from another bank - only from the Lloyds/TSB Classic/Classic Plus. I can't get through that they - Lloyds - have been taking the money from Halifax since Aug 07 payment and, have only just decided in Dec 08 to start refusing it. Our friend is 3xpayments short through no fault of his own and, they won't accept these payments or back date the missing interest. I won't go on any further but, as it's best part of a £1000 down on this account it's causing more than irritation. They keep saying you can only fund from Lloyds current accounts but, Martin and others have said otherwise - right back when we first took these out. I know 'cos I printed the page . Does anyone out there know what leverage we can use with Lloyds to get them to accept the error and put it right? Has anyone funded their Monthly Saver from another bank and it's all gone smoothly? I would love to know so, I can help our friend with 'consumer power'. I take note of the faster payments debacle others have suffered above but, this particular Lloyds/TSB monthly saver has been taking in payments into it from Halifax for ages. Any help gratefully received. cheers:mad:

Dru2

hi, no-one has to answer my rant above. It seems that Lloyd/TSB have had many problems in december 08 with the faster payments funding and, though we have all matured - in the monthly savers - they have honoured the interest that should have been there with the payment they refused!! from december onwards. thanks to anyone who read my message above and was about to answer. I don't want any forumites to do any more work than they have too so, I just wanted to let you know that all's well with the lloyds/tsb monthly savers and the interest accrued. Phew!! I'm off for a pint.:beer:

LittleVoice

Thanks for getting back to explain what is happening.

But I'm surprised that a couple of months' interest on the final 3 or so payments amounts to the "best part of a £1000"!

Dru2

hi little voice, thanks for replying. When I said 'best part of a £1000' that was a little optimistic but, what I meant was that they would not now accept his 3x £250 for Dec/Jan/Feb 09 respectively . These payments would have totalled £750 with rolling interest on top.
We have decided to leave it now and not proceed further - with the meagre interest Lloyds have applied - and take what is given. It is lower than expected with the missed payments now disappearing into the ether.
I do hope my posts are OK on this forum. I've only done it once (maybe twice) before. I'm really chuffed someone notices.
All power to the forums. I'm always on them - even if I don't add to many.