Vantage - How long before use (online app)

Newbie2saving

Hi all,

Just wondering how long it took for you to be able to use the Lloyds TSB Vantage current account when you applied online?

Thanks in advance....

johnmoney05

You probably need to ask the Postoffice....

Baldur

Almost immediately, as I already had other accounts and online banking access with LTSB.

johnmoney05

Baldur wrote: »

Almost immediately, as I already had other accounts and online banking access with LTSB.

I guess that you meant upgraded from Current to Vantage. Yes, you can change it immediately.
It will take 3 working days to apply a new current account even you have online banking with them.

Baldur

johnmoney05 wrote: »

I guess that you meant upgraded from Current to Vantage.

No, just their FRISA (I had closed my Classic account of 23/24 years standing some months previously, after major issues with LTSB's customer service) - the account was set up by my next log-in (the same day) and I transferred funds into it immediately via FP.

johnmoney05

Baldur wrote: »

No, just their FRISA (I had closed my Classic account of 23/24 years standing some months previously, after major issues with LTSB's customer service) - the account was set up by my next log-in (the same day) and I transferred funds into it immediately via FP.

You beat me for that. I have 4 classic vantage accounts. Added one last month, took exact 3 working days to come live. Added another one during this weekend, still no sight of it today.

SomersetSaver

I opened one over the phone on Friday afternoon and it was there yesterday (possibly earlier, as I didn't check over the weekend).

However I did already have another account with them, so this may have made things faster.

I know the OP asked about how long via Internet banking, but don't see why it would necessarily be any different from over the phone.

Newbie2saving

Still nothing and opened it over a week ago, so it maybe down to Royal Mail, but will phone up tomorrow. Thanks for the responses...

isayhello

johnmoney05 wrote: »

You beat me for that. I have 4 classic vantage accounts. Added one last month, took exact 3 working days to come live. Added another one during this weekend, still no sight of it today.

Hi, I'm not currently with Lloyds but am thinking of joining for this vantage account. Can i ask what the point is of opening more than one? as i thought you need a balance in there of 5-7k per month? so would you have to have that in all 4 accounts?

Baldur

isayhello wrote: »

Hi, I'm not currently with Lloyds but am thinking of joining for this vantage account. Can i ask what the point is of opening more than one?

I only have 3 but yes, all have a balance of £7,000 - so earning a healthy 4% on £21,000.

blueberrypie

isayhello wrote: »

Hi, I'm not currently with Lloyds but am thinking of joining for this vantage account. Can i ask what the point is of opening more than one? as i thought you need a balance in there of 5-7k per month? so would you have to have that in all 4 accounts?

The point of having more than one Vantage account is if you have more than £7k in savings. If you only have £5k, there's no benefit to having more than one. But if, for example, you have £12k saved, you'd only get the 4% on the first £7k in one account - but by splitting it between two accounts, you can get 4% on the whole amount.