Lloyds Savings

Dannydebt

Hi,
I have a Lloyds Vantage current account and I will be putting £8000 in it as it pays 5% up to £7000 and then 0.10% above that (Or I could always just leave £7000 in it and £1000 in my Lloyds eSaver), the problem is that to get the 5% you need to pay in £1000 each month (Which I do not), but would transferring £1000 once a month from my Lloyds eSaver and back again count or would it actually have to be paid in, such as a salary ?.

Many Thanks.

LesU

Dannydebt wrote: »

Hi,
I have a Lloyds Vantage current account and I will be putting £8000 in it as it pays 5% up to £7000 and then 0.10% above that (Or I could always just leave £7000 in it and £1000 in my Lloyds eSaver), the problem is that to get the 5% you need to pay in £1000 each month (Which I do not), but would transferring £1000 once a month from my Lloyds eSaver and back again count or would it actually have to be paid in, such as a salary ?.

Many Thanks.

I have the same account as you, a Vantage current account. I cannot see anything in the rules which stops you doing what you propose. There is no restriction on the e-Saver account for withdrawals and no qualification on the Vantage account as regards the source of the £1000. I'm intending to just pay in a £1000 a month from another bank account. I asked about this when I set up the account and was told that this would be fine.