Lloyds TSB instant access monthly saver 8%

jinkssick

you need the classic account, £500 within first 7days of opening. £250 max each month. no penalty fees.

does not need to be your main account.

KTF

If you are planning to open one now then it might be worth considering waiting till the end of next month so you can shove in £750 in month 1.

jonesMUFCforever

ED wrote:

ejones999 - I'm always glad to see you here imparting your knowledge, thanks!

Please can you clarify that there is no penalty with the Classic Plus current account in any month when customers make no deposit or deposit less than the £1,000 required to achieve the 3.93% gross interest rate?

No penalty but you don't get interest at 3.93% for the whole month that you don't pay in at least £1000. (It goes down to 0.1% - ouch)

capehorn

I opened one of these accounts today and I have just gone online to check that everything is set up right. The money has gone out of my current account, but when I try to look at my monthly saver, it gives me this error:


1) 131287 - The requested statement information is unavailable.
This is because you were not party to the account at the time and we are therefore legally unable to disclose the details to you.


WHAT?!?!? I went down there in person to open it this morning. What can this possibly mean? Could it just be that it's too soon to check the account online?? Has this happened to anyone else??

jonesMUFCforever

The accounts should show straight away.
However there was major problems with the bank's computers systems yesterday and this morning and it might be as a result of this (the account might not be fully opened just yet).
I would check again tomorrow.

capehorn

ejones999 wrote:

The accounts should show straight away.
However there was major problems with the bank's computers systems yesterday and this morning and it might be as a result of this (the account might not be fully opened just yet).
I would check again tomorrow.

Phew, you were right, it's working now!

The other thing concerning me is that when I look in my current account under standing orders, there is nothing there. I asked for the first standing order to go out on the 29th, but the woman said that the soonest that could happen was next month, so that's what she told me would happen. BUT the t&cs state that if the first standing order doesn't go through within the first month, the account will be closed.

"your first payment must be made within 30 days of account opening"

So I want to change the standing order, but I can't see it on my current account!

jonesMUFCforever

capehorn wrote:

Phew, you were right, it's working now!

The other thing concerning me is that when I look in my current account under standing orders, there is nothing there. I asked for the first standing order to go out on the 29th, but the woman said that the soonest that could happen was next month, so that's what she told me would happen. BUT the t&cs state that if the first standing order doesn't go through within the first month, the account will be closed.

"your first payment must be made within 30 days of account opening"

So I want to change the standing order, but I can't see it on my current account!

If you completed a standing order form when you opened your account give it a few days - they send the forms to be processed centrally.
Patience please.

capehorn

Thanks for the answers. Sorry for fretting, I just thought that if there was a problem, it would be best to sort it asap

pfpf

woohoo, i got accepted for the Lloyds classic account today(its all i wanted). i didnt think i would because of some recent problems but hey hoo.

i only wanted it so i could attach the Reg Saver.

does anyone know if the telephone application for the Reg Saver is painless enough? as easy as going into a branch?

can i pay my £500.00 by DC over the phone? i will be depositng my monthly from an external account which i now understand is acceptable?

thank you.

ED

ejones999 – thanks again! Could you confirm if it's currently true Lloyds accounts 'Classic' + 'Classic Plus' pay interest on all Standing Orders and Direct Debits for :

(1) the day funds leave the Lloyds account; and

(2) the following 2 days?

If true, the 4% AER (3.93% gross) interest offered for 'Classic Plus' account would be useful for some of us!