Lloyds TSB instant access monthly saver 8%

buses7675

Hi All,

Just an update on phone applications. I phoned Lloyds TSB on Monday regarding setting up my Monthly Saver account, having opened by Classic Plus account the week before.

Got through quickly to the call centre at about 3pm on Monday, (Indian call centre, but the man was very polite and did all that I requested), just checked online today (Wednesday morning), account is already set up with the £500 in it, standing order set up to go out on the 10th, as the man suggested this in case the account took a few days to open. Either way, its ammended to tomorrow for this month, and will then be altered to the 1st for every month after. It is being funded from the LloydsTSB current account, so weekends/bank holidays shouldn't affect the transfer dates!

Well done Lloyds TSB!

Cheers

Steve

Kazza242

buses7675 wrote:

Hi All,

Either way, its ammended to tomorrow for this month, and will then be altered to the 1st for every month after. It is being funded from the LloydsTSB current account, so weekends/bank holidays shouldn't affect the transfer dates!

Well done Lloyds TSB!

Cheers

Steve

My SO for July was set to the 1st, but the payment was actually transferred to my monthly saver on Monday 3rd July and it is dated accordingly. If the 1st happens to fall over a weekend, then your payment will reach the monthly saver on the next working day of the month. If there had been a bank holiday on Monday 3rd July, then I guess my payment would have been credited to my monthly saver on Tuesday 4th.

My SO to my monthly saver is coming from my LTSB current account as stipulated in the monthly saver T&C's.

buses7675

Kazza242 wrote:

My SO for July was set to the 1st, but the payment was actually transferred to my monthly saver on Monday 3rd July and it is dated accordingly. If the 1st happens to fall over a weekend, then your payment will reach the monthly saver on the next working day of the month. If there had been a bank holiday on Monday 3rd July, then I guess my payment would have been credited to my monthly saver on Tuesday 4th.

My SO to my monthly saver is coming from my LTSB current account as stipulated in the monthly saver T&C's.

Hi Kazza,

Thanks for that, hadn't realised with being a new LTSB customer - Strange though as you can make internal transfers on any day I believe!

In that case then, I'll set them up to go out the first working day of the month, same day as the transfer to the Halifax regular saver!

Cheers

Steve

[Deleted User]

Kazza242 wrote:

My SO to my monthly saver is coming from my LTSB current account as stipulated in the monthly saver T&C's.

There is definitely some confusion here. I was led to believe the same as Kazza, and that is how my arrangements have been made and are proceeding very nicely thank you.

HOWEVER see post 5 of this thread from MSE Dan.

http://forums.moneysavingexpert.com/showthread.html?p=2432612#post2432612

codetown

Hi,
I am going to open one of these tomorrow.

How would you suggest to deposit the first 500 pounds? Would it be best cash?

Has anyone had problems into getting the current account opened immediately (checking just to avoid bringing 500 pounds up and down my other bank)? I don't have time to ask them an appointment, but hope they will be able to receive me once I get there...

Kazza242

codetown wrote:

Hi,
I am going to open one of these tomorrow.

How would you suggest to deposit the first 500 pounds? Would it be best cash?

Yes, cash is the best way of getting the £500 in. I took £750 cash along to the branch with me on the day I opened my LTSB accounts. The personal banker, deposited the £500 into the monthly saver immediately after the accounts were opened. The remaining £250 was deposited into the current account to meet the first SO, due 4 working days later.

codetown wrote:

Has anyone had problems into getting the current account opened immediately (checking just to avoid bringing 500 pounds up and down my other bank)? I don't have time to ask them an appointment, but hope they will be able to receive me once I get there...

I didn't have any problems at all. They opened the current account and monthly saver for me in around 20 minutes.

Regarding an appointment, I arranged mine by calling their personal accounts telephone number, which is 0845 3 000 000. The call centre arranged my appointment, at a branch of my choice for the next day, as they had an available slot. To avoid disappointment, I would recommend trying to arrange an appointment.

JohnFB

Are there any disadvantages with the LTSB Classic Plus Account ?
I have a LTSB current account already and am thinking of switching to this so I can get the interest. (Previously int paying accounts involved paying a monthly premium.)
The website does say

You should check that upgrading to ‘PLUS’ will save you money before deciding

. . . so why would it not save me money then.
I never go OD at the moment.
Will it involve any changes to Acc No, DDs etc ?

I phoned LSTB and spoke to an Indian Callcentre. He was very polite but didn't seem to know any more than I did already.

Ali-OK

JohnFB wrote:

Are there any disadvantages with the LTSB Classic Plus Account ?
I have a LTSB current account already and am thinking of switching to this so I can get the interest. (Previously int paying accounts involved paying a monthly premium.)
The website does say . . . so why would it not save me money then.
I never go OD at the moment.
Will it involve any changes to Acc No, DDs etc ?

I phoned LSTB and spoke to an Indian Callcentre. He was very polite but didn't seem to know any more than I did already.

I moved from Plat Plus to Classic Plus a few months ago - you do keep the same account number and card pin number - they just issue you with a new debit card. It would only not save you money if you use the OD - Plat Plus has a lower OD APR and a £250 free buffer. I don't use the OD either, so hasn't cost me more.

You do move from £250 cheque guarantee to £100 and of course the "benefits" of mobile insurance, AA, questionable discounts on cars/hols, travel insurance (which they've changed so I could no longer get DS free anyway).

Overall, I'm saving the £180 p/a account charge and still getting 4% interest(same as Platinum Plus). Once you've changed, you'll get a little Upgrade tempter next to your account name on line!

Hope that helps.

Looking_after_the_pennies_2

hi everyone

an update on my running battle with LTSB over my bounced SOs.

I have had another letter back from Customer Care, this time from a manager. It seems that they will not budge, and insist that each SO must be paid on the same day each month.

I will have to try the 'softly softly' approach and bring my SO forward by a few days each month, and hope that the branch manager doesn't notice.

Those of you who have managed to change from end of month to beginning, count yourselves lucky as LTSB say that is impossible!!

jonesMUFCforever

Looking_after_the_pennies wrote:

hi everyone

an update on my running battle with LTSB over my bounced SOs.

I have had another letter back from Customer Care, this time from a manager. It seems that they will not budge, and insist that each SO must be paid on the same day each month.

I will have to try the 'softly softly' approach and bring my SO forward by a few days each month, and hope that the branch manager doesn't notice.

Those of you who have managed to change from end of month to beginning, count yourselves lucky as LTSB say that is impossible!!

A branch manager won't give a toss about the date of your standing order.
I think the problem here is if you have had a s/o bounce the system will keep trying every day for 28 days to pay the s/o. In the meantime if you have changed the due date the system may pick up 2 payments trying to get through in same calendar month which is against the T&C of the saver account.
My suggestion would be to cancel the s/o altogether and start again by re-setting it up.