Lloyds TSB instant access monthly saver 8%

$17mma

redagila wrote:

Mary I also do that with A&L & Halifax.However wonder as they state "c/a should be the c/a you use most often for your everyday banking" if Lloyds could say you are not meeting the requirements, any more than if I only pay in £100 each month. At the end of the day, it really depends on how much they decide to monitor the c/a.

that is what i was wondering so am thinking of having a couple of minor amounts paid out of it, like sky, internet, phone which is quarterly etc..

[Deleted User]

$17mma wrote:

Ok I have been pondering on what the lady told us in the branch , that a sal HAS to be paid into the account to qualify for the monthly saver rate.... has anyone else been told this. Is this reason for concern do you think

1) I was informed that salary does NOT have to be paid into the bog standard Classic current account, but probably does if you choose the Classic Plus account, in return for a 'decent' credit interest rate.

2) I think the question about your prospective monthly deposit is merely a 'box ticking' exercise, and should not be used as a stick to beat you with.

3) The £500 monthly minimum is definitely incorrect. I queried this and was given permission to amend the paperwork to read £1 before signing.

HTH

mary

$17mma wrote:

Thats what i was thinking but all the money juggling am worried i will get it wrong. As sal goes into one acct and bills from another acct and savings left right and centre :rolleyes:

Final question: can i pay the £500 in cash or does it have to be transfered and look official from another account?

You have to be organised and meticulous once you start using several accounts. I have a master month calendar and plot all the Regular Savers where they go out from, when they have to reach their by, making wherever possible payments or transfers on a Monday, thus avoiding weekends.

My main current account happens to be Lloyds anyway so I can't really answer your question about hte £500 cash. My guess, and only a guess, so long as there is activity and it's being used, it won't matter, but it's only a guess. Best to clarify with someone and take name and number for reference in case of dispute at a later date.

SalsaDanca

Deleted_User wrote:

1) I was informed that salary does NOT have to be paid into the bog standard Classic current account, but probably does if you choose the Classic Plus account, in return for a 'decent' credit interest rate.

I have just opened a Classic Plus account in order to get the regular savings account. The account must be funded with at least £1,000 per month, but it doesn't have to be your salary. My salary is paid into a Barclays account, so I have set up a standing order to fund the Classic Plus account.

I am transfering my direct debits to Lloyds TSB anyway, to make sure that I qualify for the regular saver. The online banking is simpler than Barclays too, so I'm happy to make it my main current account.

whist

Ok guys. I'm ready to open this account but I want to maximimise my interest.

I have a LloydsTSB account and internet account.
I have £1000 ready to put into the account by doing £750 first and changing SO immediately so I can have £1000 bye 1st July.

My question is when ss the latest date I should open the account and should I do it over the phone?

I spoke to someone in customer services who said I can do it over the phone and it takes only a few minutes but if I wished I could go into the branch? She said the only reason I may want to go into the branch is if I need to set up a new lloyds account etc.

I originially planned to open this on Friday/Saturday. Get £500 in immediately. Set up SO for Monday 26th. If money is in account, change SO to 1st. Will this work?
Can I try for Monday 26th?

chesky369

Whist, I had a Lloyds current account in place and thought it would be quicker to do it by 'phone - while it's true it takes only a few minutes to run through all the questions, it still took nearly 2 weeks to come through, despite being told the paperwork would 'probably go in the post this evening'.

whist

chesky369 wrote:

Whist, I had a Lloyds current account in place and thought it would be quicker to do it by 'phone - while it's true it takes only a few minutes to run through all the questions, it still took nearly 2 weeks to come through, despite being told the paperwork would 'probably go in the post this evening'.

Was the account opened and the money deposited into the acoount though? They told me the money will be taken immediately from my current account etc etc. Does the paperwork have to be signed before they open the account for you?

mary

Take 20 minutes out of your lunch break, go into a branch for a prearranged date appointment with manager or whoever, so you don't hang around waiting and watch it happen in front of you, as they did with me. Then you know it's done.

$17mma

whist wrote:

Ok guys. I'm ready to open this account but I want to maximimise my interest.

I have a LloydsTSB account and internet account.
I have £1000 ready to put into the account by doing £750 first and changing SO immediately so I can have £1000 bye 1st July.

My question is when ss the latest date I should open the account and should I do it over the phone?

I spoke to someone in customer services who said I can do it over the phone and it takes only a few minutes but if I wished I could go into the branch? She said the only reason I may want to go into the branch is if I need to set up a new lloyds account etc.

I originially planned to open this on Friday/Saturday. Get £500 in immediately. Set up SO for Monday 26th. If money is in account, change SO to 1st. Will this work?
Can I try for Monday 26th?

If you read through the thread you will see that they tell you to open in branch to avoid delays.

lipidicman

$17mma wrote:

If you read through the thread you will see that they tell you to open in branch to avoid delays.

We sure did, but hey, it is getting to be a LOOOOONG thread now......