Lloyds TSB instant access monthly saver 8%

Ted_Bloke

Sillychuckie wrote:

hmm. Can I afford 3 reg savers.

Maybe you can, for I just thought of a cunning plan, see my last-but-one post on the thread Derbyshire.
http://forums.moneysavingexpert.com/showthread.html?t=167143&page=8
(Where is that phrase about this is not financial advice, disclaim all responsibility...? Anyway, that!)

Prudent

payless wrote:

less possible tax ! and the initial 8 days on the £500 ( OK pennies)

Plus of course the account might take a few days to actually be opened / standing order to be set up

Risk of product being withdrawn whilst waiting.( unlikely I know)

... so in most cases I would go with it

I was told on the phone that it may take up to 7 days for the account to be set up as there already has been a high response.

I did actually miss an account before that was withdrawn very quickly after a tip on here, so wanted to get in fast this time.

Prudent

Hobo wrote:

Hi, Have an existing joint current account @ Lloyds, went & filled forms (with branch manager) to open one each (me & wife) all OK.
Looking online now only one account has been opened & £500 already in it.
Maybe wrong but i suspect only one may be allowed per current account, despite managers OK, reading the site conditions

2/ "You can have one monthly saver either in your name or jointly withn someone else"

any ideas?

I was told the account could be a joint account. But if I had a joint account I could only have the one. I don't have a partner, so didn't ask any questions.

Ted_Bloke

Hobo wrote:

Hi, Have an existing joint current account @ Lloyds, went & filled forms (with branch manager) to open one each (me & wife) all OK.
Looking online now only one account has been opened & £500 already in it.
Maybe wrong but i suspect only one may be allowed per current account, despite managers OK, reading the site conditions

2/ "You can have one monthly saver either in your name or jointly withn someone else"

any ideas?

I read that as you can have only one account Mr. Hobo, or you can have a joint account in the name Mr. & Mrs. Hobo which either of you can operate but not both of the above, while there is no reason why Mr. Hobo cannot have one account and Mrs. Hobo have a quite separate one. Reading the details on application forms or t&c probably clarifies.

Hobo_2

Yes, seems Branch manager was over zealous, just need to check that account opened is for Mrs Hobo only (non-Taxpayer)

payless

We have a joint account - I asked this morning and was told we could have one each - wife just opened hers over phone

( I did wonder if this was an issue , hence my question this morning- as otherwise I would have opned mine via my little used sole account)

Neither showing on sytem yet

Dagobert

The Terms & Conditions of the offer can be found here.

I just opened the account:
I was told that amount and or date of the payment can be varied as long as you make no more than one payment between £25 and £250 per calendar month. It is also possible to miss out payments.

The standing order can either be set up on your Lloyds TSB current account or come from an external account.

Hobo_2

Well good news now both £500`s have been debited from current account.
Seems from that one each is OK.

Kazza242

How do Lloyds TSB pay in your initial £500 payment into the RS, especially if you aren't an existing customer? Do you take £500 cash with you to the branch on the day of your appointment or do you present a cheque?

Horasio

Excuse me if I seem a bit thick here, not a maths person either:o

I have been with Lloyds TSB for years and I have a sum of money to invest. Is there a maximum amount you can have in there?

Do you have to put money in each month? It reads to me that you need to put in a minimum of £25 per month

Can I put in the lump sum and pay in some each month?