LloydsTSB Vantage Account - too good to be true?

D1zzy

antispam246 wrote: »

Just a note, I did a 6.5k transfer from Barclays to this account and it was there in 2 hours. Did it in one lump sum.

Won't be like that when you want to get it out though

antispam246

D1zzy wrote: »

Won't be like that when you want to get it out though

Kinda hoping I won't have to for awhile (:

LemonTree_3

mm79 wrote: »

I've managed to get 3 so far if that helps - 1 in branch and the other 2 in separate phone calls. I must admit the advisors do seem very confused when you ask for more than one. I was told on all three occasions that I would have to wait 24hrs before opening the next one - but others have been able to open 7 in branch so I guess it depends on your luck!

I think it depends on your luck. I was told in branch that I can only have 2 vantage accounts in total. Also, I was told that I have to fund each of the account from an external source, that means I can't transfer money from one Lloyds account into the other to fulfill the monthly £1,000 funding requirement.

Gather the information from this thread I now believe that I was told utterly rubbish by the bank stuff: it seems people were able to get up to 7 Lloyds Vantage accounts PLUS internal transfers are counted towards the monthly £1,000 funding requirement as well.

I'm planning just to open my third vantage account over the phone rather going to my local Lloyds branch.

exel1966

D1zzy wrote: »

Won't be like that when you want to get it out though

But you could always walk into a branch and withdraw it as cash

savetilibleed

LemonTree wrote: »

I think it depends on your luck. I was told in branch that I can only have 2 vantage accounts in total. Also, I was told that I have to fund each of the account from an external source, that means I can't transfer money from one Lloyds account into the other to fulfill the monthly £1,000 funding requirement.

Hopefully internal transfers do work. I have a 2nd Vantage account and just transferred £1000 to it from the other one. Well see when the interest is added (or not).

Also, I had a welcome pack in the post (can't remember if I posted this or not) with transfer of DD forms and the like, as though they don't realise I already have a Vantage account. Maybe it was because I told them what my payments in would be, even though they are to the other account now (and will stay that way).

D1zzy

savetilibleed wrote: »

Hopefully internal transfers do work. I have a 2nd Vantage account and just transferred £1000 to it from the other one. Well see when the interest is added (or not).

I've been doing internal transfers between my 7 accounts for a couple of months and have received my interest OK

superstar_2

Opened my 2nd one by telephone and it was up within 24 hours. Popped in to the branch to pay in a cheque cos the FP only accepted 910 quid. Got back home from the branch and received a phone call from the bank manager asking about the second a/c that I opened yesterday. She asked if I opened it for interest purposes? bla bla bla ... and she ask how did i open cos they dont do it in the branch. She did finally say that 2 is ok though. Im going to try third one by phone tomoro.

savetilibleed

superstar wrote: »

Opened my 2nd one by telephone and it was up within 24 hours. Popped in to the branch to pay in a cheque cos the FP only accepted 910 quid. Got back home from the branch and received a phone call from the bank manager asking about the second a/c that I opened yesterday. She asked if I opened it for interest purposes? bla bla bla ... and she ask how did i open cos they dont do it in the branch. She did finally say that 2 is ok though. Im going to try third one by phone tomoro.

Sounds like they are twigging to the fact that people are using then simply for geting interest.;)

superstar_2

tried opening my third one on the phone today and halfway through it, he mentioned that it now needs to be processed by the authorisation division which only work Mon-Fri. So, need to ring back again next week. Any idea what's going on?

10_66

superstar wrote: »

tried opening my third one on the phone today and halfway through it, he mentioned that it now needs to be processed by the authorisation division which only work Mon-Fri. So, need to ring back again next week. Any idea what's going on?

They seem to be tightening up on opening more than 2 accounts, it could be that they'll tell you you'll have to go into a branch to continue with the 3rd. Some have been told, even when they go into the branch, that they can't have more than 2. Not sure what it says in the T&Cs about this, might be worth your while having a look to see if it does actually state that. If it doesn't, and they try stopping you, you could always put that to them.