Darling to shaft savers!!

home_alone

Milarky wrote: »

Oh dear! The 'is it worth it?' brigade....

The Pricipality ISA is worth about £39 (net/gross) - 3 and a quarter hours....
Lloyds vantage? well that's tricky; keep £5k in there at all times (although that sounds like a 'lump sum' to me) and then pay at least £1000 per month in (instantaneous in this day of Faster Payments) use to the £1000 to pay Barclays and Principality and lose the £400. All that is worth an extra £70 (pa) 6 hours 'work' - 30 minutes per month. (Worth it?)

.....

I use the Lloyds vantage account just to gain a little bit of interest on my day to day current account something that Lloyds did not pay great interest on, so is it worth it of course it is better than the next to nothing I got before.

gary

chris1

Milarky wrote: »

Lloyds vantage? well that's tricky; keep £5k in there at all times (although that sounds like a 'lump sum' to me) and then pay at least £1000 per month in (instantaneous in this day of Faster Payments) use to the £1000 to pay Barclays and Principality and lose the £400.

Does the Vantage payment HAVE to be salary or can it just be an ordinary BACS or FP (on the phone they say it must be salary)?

D1zzy

chris1 wrote: »

Does the Vantage payment HAVE to be salary or can it just be an ordinary BACS or FP (on the phone they say it must be salary)?

I just use it as a savings account. I keep 7K in there and once a month transfer in £1000 from my Lloyds E- saver and then Transfer £1000 + the months interest back back to the E-saver.

Frogletina

chris1 wrote: »

Does the Vantage payment HAVE to be salary or can it just be an ordinary BACS or FP (on the phone they say it must be salary)?

Opened one of these accounts today in my local branch - the adviser said it was fine that I was funding it from my savings, I have taken voluntary reduncancy so I have no salary and no income except my savings interest. Adviser said she assumed I would be using it as a savings account in the main and had no problem with that. I need as much interest as I can get before I have to dip into my capital.