Lloyds TSB December interest not showing yet

jack92

I've checked my Lloyds TSB current/vantage account via online banking but the interest is not showing yet. December was the first full month that I had the account operating so I was hoping to find out what interest I'd been paid, but nothing has been added. I had a small interest payment on 1st December for November, so I was expecting it to be added on 1st January, but so far nothing. I checked this morning, and still nothing Is interest normally added on the first of the month? Have any other Lloyds TSB customers had this problem?

Thanks,
Nicky

opinions4u

I don't know how LTSB systems work.

But 4th January is the first full bank working day of the year.

So I'd wait until then.

home_alone

Mine is not in yet never is, I expect it late Monday

jack92

Thanks both. I will check on Monday/Tuesday.

Nicky

natman

Hi, I cant comment directly on your account, but December to January end of month is a litle strange this time, as there are no real working days / banking days.

1st January - bank holiday
2nd January - Saturday
3rd January - Sunday

4th January is a working day and the interest would probably show then.
I wouldnt wory too much, wait until Monday and see what happens, if nothing then perhaps contact them.

agsnu

http://www.lloydstsb.com/current_accounts/vantage_ts_and_cs.asp says:

For each month that you meet the Vantage conditions we will work out interest on a daily basis at the relevant Vantage interest rate from the second working day of that month and add it to your account at the end of the first working day of the next month.

jack92

Thanks again to everyone who has replied.

This is the first time for more than 15 years that I've actually shopped around for interest rates on savings so I guess I'm over anxious because I don't want to miss out on anything :rotfl:

I will check the account again early next week.

Nicky

LittleVoice

agsnu wrote: »

http://www.lloydstsb.com/current_accounts/vantage_ts_and_cs.asp says:

For each month that you meet the Vantage conditions we will work out interest on a daily basis at the relevant Vantage interest rate from the second working day of that month and add it to your account at the end of the first working day of the next month.

And may I take this opportunity to point out that their month runs from the SECOND working day. So that, for the January interest calculation, any money paid in between 1 and 4 January inclusive will not be counted towards the minimum £1K monthly deposit.

[I believe the December interest will be credited as the end of 4 January but it will not appear to view online until 5 January.]

home_alone

It will also be the last to be paid in on that day, talking about hanging on to it.

info_maniac

LittleVoice wrote: »

And may I take this opportunity to point out that their month runs from the SECOND working day. So that, for the January interest calculation, any money paid in between 1 and 4 January inclusive will not be counted towards the minimum £1K monthly deposit.

[I believe the December interest will be credited as the end of 4 January but it will not appear to view online until 5 January.]

Thanks for this info. I didn't knew this. I opened a new account on 30 Dec and transferred £7000 in the account today. I believe this amount will not be counted towards the £1000 min monthly deposit (as per your explanation).

What should I do now?

Should I move out £1000 from my £7000 balance and move it back again? OR Should I move in a new £1000 and then move it back out again?

Also, I am having trouble opening the second classic vantage account online? Is it working for anyone?

LittleVoice

info_maniac wrote: »

Should I move out £1000 from my £7000 balance and move it back again? OR Should I move in a new £1000 and then move it back out again?

Doesn't matter really but to be absolutely sure the total balance on which the interest is calculated never falls below £7K for a day, then move £1K in one day and out the next.