LloydsTSB Vantage Account - too good to be true?

D1zzy

gazelle8760 wrote: »

Why would anyone want 7 accounts with the same organization? Lloyds TSB stated that the more cards you have with them, for current accounts, the greater the risk you are to them, I am surprized they have let you have that many.

Only have a card & cheque book for 1 account , the othes are just used as savings accounts; 7 keeps me below the 50K max and 4% is just about the best rate around at the moment. Its instant acces so if & when a better rate turns up I'll just move the money.

poorgirl-54

hi
does anyone know wen do lloyds pay in the monthy interest into the lloyds current account with vantage?

i asked in branch they didnt seem to know

savetilibleed

poorgirl-54 wrote: »

hi
does anyone know wen do lloyds pay in the monthy interest into the lloyds current account with vantage?

i asked in branch they didnt seem to know

I switched my Classic to Vantage in June and I was paid interest on 1 July. I opened another Vantage during July. Today is 1 Aug @ 10.13pm and I don't yet see an interest payment for either account yet. If it happens I'll edit.

Edit: The interest has appeared late today (3 Aug).

johnmoney05

poorgirl-54 wrote: »

hi
does anyone know wen do lloyds pay in the monthy interest into the lloyds current account with vantage?

i asked in branch they didnt seem to know

Last month was on 1 July Wednesday. So I guess this month will be on 3 August Monday.

Biggles

Like with the Classic Plus, they pay it after the close of play on the first working day of each month, so you'll see it Tue am.

LydiaJ

Thanks for this thread - very useful. I might get one of these next.

I've just got two other "current accounts" to use for savings - Alliance & Leicester premier direct (6% on 2.5k if you fund it with £500pm from outside A&L) and Abbey preferred in-credit (also 6% on 2.5k but this one you have to fund with £1000pm - not sure if it has to be from outside Abbey). Both rates are fixed for a year.

In my branch of A&L they certainly didn't mind me planning to use the account as a savings account. The advisor I was talking to, having upgraded my savings account to the latest online 5, suggested I take 2.5k out and put it in a current account. He told me I wouldn't need to bother switching from my existing RBS current account as long as I set up two standing orders to transfer the money in and out each month.

Steve_xx

LloydsTSB don't seem to be allowing more than two Vantage accounts to be opened anymore.

Steve_xx

sloughflint wrote: »

I opened a third one under EPoA yesterday without any trouble.

EPoA? What does it mean?

D1zzy

Steve_xx wrote: »

EPoA? What does it mean?

Enduring Power of Attourney (if that how you spell it!)

johnmoney05

European Pride Organizers Association
Electronic Plan of Action
Exercise Plan Of Analysis