Lloyds TSB instant access monthly saver 8%

thor

This is a very good account but I'm not going to bother with it. I don't have an account at Llyods TSB and whenever I go to check out my local branch they are always eyeing me with suspicion. No idea why as I never get that reaction from anywhere else only at Llyods. Also you might not need to link your salary to the current account but I imagine that I will definitely get a grilling over how much I will be using it. I won't have any problems dealing with that but it will leave a sour taste that I don't want to and will not experience. I am willing to scarifice the extra interest and wait for something better.

System

Thor I have several bank accounts/savings accounts and i have been 'grilled' each time i have opened them. The key here is not to miss out on a good account but to stand up to them instead. I am much better at arguing/standing up to them face to face than i am battling with telephone queues/options/operators who speak only broken english etc.

mary

Out of curiosity, how many accounts do people run on average. I'll put my cards on the table:

10 Regular Savers
1 ISA
3 Current accounts
6 Online savings (some of these have stayed dormant until Ing improved their rate out of the blue)
3 websaver linked
+
6 Credit cards

Speculator

71 Regulars
plus numerous other BS & Bank accounts.

Zero Credit Cards.

lipidicman

mary wrote:

Out of curiosity, how many accounts do people run on average. I'll put my cards on the table:

10 Regular Savers
1 ISA
3 Current accounts
6 Online savings (some of these have stayed dormant until Ing improved their rate out of the blue)
3 websaver linked
+
6 Credit cards

Almost the same, but not quite so many regular savers (never bothered with the 6% ones) and a few less credit cards, though that might change soon

lipidicman

thor wrote:

'whenever I go to check out my local branch they are always eyeing me with suspicion'

Who goes to 'check out a branch'. The sort of people you need to be suspicious of, that's who!

You don't take your big hammer with you, do you? :rotfl:

thor wrote:

'I imagine that I will definitely get a grilling over how much I will be using it. I won't have any problems dealing with that but it will leave a sour taste that I don't want to and will not experience. I am willing to scarifice the extra interest and wait for something better.

Give them a chance. There has never been a regular saver this good, when you consider the flexibility, the lack of requirement for a salary and the two year period

Miss_Penny_Pincher_2

ubercash wrote:

I have a current account with TSB, but had to go in for an appointment, at which point they tried to sell me more "appropriate" products. Have had a second appointment. Regular saver savings account still not opened!?! Havn't sold me anything else either.

I had the same thing! Apparently I was the first person at that branch to request the regular saver. The guy was REALLY trying to put me off it. He even went as far as saying that the whole thing was an 'complete con'! He really tried to get me to have the Guaranteed Equity Bond instead but I stayed determined and said I was instant access to my money so he did relent in the end.

jonesMUFCforever

Miss_Penny_Pincher wrote:

I had the same thing! Apparently I was the first person at that branch to request the regular saver. The guy was REALLY trying to put me off it. He even went as far as saying that the whole thing was an 'complete con'! He really tried to get me to have the Guaranteed Equity Bond instead but I stayed determined and said I was instant access to my money so he did relent in the end.

This sounds as if you were referred to see the wrong person!
Equity bonds are a regulated product only sold by financial consultants.
The monthly saver is just a savings account with no risk to capital and guaranteed rate of interest for 2 years.

mary

Can see the SO has already been transferred into the Regular Saver for the 30th (I'm with Lloyds anyway). Just have to change the SO next so the next one goes out June 1st/2nd.

Miss_Penny_Pincher_2

ejones999 wrote:

This sounds as if you were referred to see the wrong person!
Equity bonds are a regulated product only sold by financial consultants.
The monthly saver is just a savings account with no risk to capital and guaranteed rate of interest for 2 years.

Was the right guy because he did set up the regular saver and said he couldn't advise me fully about the equity bond. He went to speak to the financial consultant because he was so confident the equity bond would probably be right for me but the financial consultant said it wouldn't be because I was only looking to invest short term.

I hadn't sort about changing the standing order to the first of the month to build it up to £1000 quickly - mine's set up for the end of the month so I will try changing it when I go in this week!