Lloyds TSB and the £1000 per month rule

IT_Troll

I went into a local branch today with my partner to hopefully open three Classic Plus accounts - two individual accounts and a joint account. The plan was to have our salaries paid in to our individual accounts (each over £1000) and then transfer some from each (totalling over £1000) into a joint account.

The guy at the bank said this wouldn't be possible because to qualify for the Classic Plus interest rate you must have your salary paid into the account. Which wouldn't be the case for the joint acccount.

From the website T&Cs it only states that; "You must agree to pay in a minimum of £1,000 a month into your ‘PLUS’ account and log on to Internet banking regularly."

The only mention of salary payments is for the £50 switch offer; "Agree to, and make, a regular salary credit of at least £1,000 a month through our Account Transfer Unit into your new current account"

Has anyone here managed to open a Classic Plus account which obtains it's £1000 credit through a transfer from another Classic Plus account?

buss

Me and my other half both have individual current accounts which our salaries are paid into. We get this higher interest on these two accounts.

When I then transfer about £1200 into our 3rd joint account I also get the preferential interest rate! It's great!

grumbler

Both me and my wife have Classic Plus accounts and have never paid salaries into them. I think that 'the guy' is just another example of branches staff incompetence.

Sillychuckie

The guy at the branch is wrong.
Simply direct him to the terms and conditions on the website like you have done to us here. That should be enough to get them to agree. The guy has been misinformed and the T's+C's are what matter at the end of the day... not his gut feelings.
If he wont budge, ask to talk to someone above him.

IT_Troll

Thanks for the replies - glad to hear I hadn't lost the plot.

However it seems like too much hassle to go back and argue my case. The initial front desk person I spoke to was real hard work and the senior account guy clearly doesn't know about his own products and services.

And they expect to look after my money? I'll take my business elsewhere.