LloydsTSB Vantage Account - too good to be true?

10_66

See D1zzy's post #24, has received correct interest having "recycled" funds between accounts.

Biggles

lindos90 wrote: »

She said that the staff at the branch had a big debate about this and the terms are not clear one way or the other, and they had no confirmation from head office, so she and a number of other staff had decided to tell people it had to be a an external transfer!

Yes, that's how it seems to be working at the moment - a leaflet from head office and no guidance. I found myself giving a fairly senior member of the bank's staff advice on the T&Cs of the new Monthly Saver. Each time, after ringing 'Home', she came back to me and agreed I was right. Her knowledge was based on the little the staff had gained from the basic (very) stuff from head office, my knowledge was gained from MSE!

lindos90

Biggles wrote: »

I found myself giving a fairly senior member of the bank's staff advice on the T&Cs of the new Monthly Saver.

Thanks for replies, going slightly of topic biggles, what was the issue with the monthly saver? as ive also opened one of them today, wondering if they have given me 'selective and percieved' information on this too!

artha

KTF wrote: »

You contact the bank and ask them to open them for you.

(Sorry to labour this) so if I apply online several times I will get several bank accounts in my own name with all details the same?

10_66

artha wrote: »

(Sorry to labour this) so if I apply online several times I will get several bank accounts in my own name with all details the same?

You can only open one online (you don't have to open the first online, you could do this on the 'phone or at a branch). The rest you either have to phone (0800 085 9174) to open or visit a branch. You would usually keep the same sort code for each account, but obviously each account has a different number. Once registered for online banking, you can view them all online.

KTF

If you already have a bank account and bank online you will probably not be allowed to open any more accounts online (I cant do this) so you will have to either call them up or go to a branch and book an appointment.

Once the accounts are open they will all be in your name but with different account numbers, sort codes (if at a different branch to your existing account), cheque book, debit card, etc. and all will appear on your online banking.

whitenoise19

Just phoned up to open a vantage (already have a classic plus) and what a faff! I'd clearly noted down the wrong number so had to go through phonebank - that took 10 minutes! Eventually ended up at the right department and had to give all my details again - even though they already have them...

Apparently they can only setup one current account at a time, and then you have to wait 48 hours before setting up another. No problem for me, as I only wanted the one, but not sure how these people who setup 6 fair! The woman said it was the same system in the branch as on the phone so somethings not quite right there. Well it took about 25 mins to setup one account, so I would hate to think how long it took to do more than one!

Heh, she repeatidly asked how I was going to fund the account. I just said that I was going to transfer my salary into this account after being paid into the first one. Don't think she liked this as she kept asking me to clarify what I meant!

Tried to cancel debit card/cheque book for the account (I only want to manage it online) but she said these were generated "automatically" and so couldn't be turned off. Looks like I'll just shred them when I get 'em.

Maybe they want to make this account opening business as drawn-out as possible so it puts people off!

10_66

whitenoise19 wrote: »

Tried to cancel debit card/cheque book for the account (I only want to manage it online) but she said these were generated "automatically" and so couldn't be turned off. Looks like I'll just shred them when I get 'em.

She has told you incorrect information. You definitely can request not to have o/d, debit card, cheque book and paying in book when opening the account if you don't want them.

whitenoise19

Thanks for the info 10_66. What can you do though when you phone these people up. Unless you know otherwise you just have to accept what they say.

She was annoying though! I mentioned it would be much easier to do this all online, and to start with she said that you could. When eventually I managed to convince her you couldn't she merely said it was a problem with internet banking and I should speak to them. She also wouldn't give me the direct number to the department (if I needed to open another) as she "didn't know what it was as they have so many numbers", very helpful that. She suggested I should ring through phone bank each time - no thanks - I'm be ringing 0800 085 9174 as you suggested 10_66 if I need to open another account.

10_66

Yes, it's really frustrating when the branch staff don't know their own products. It's just as well we've got MSE forums where we can get the right answers!