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jennifernil

G_M wrote: »

See thread here:

Much simpler to deal with your Vantage accounts entirely separately from the other accounts, and on the same day. Choose a day mid-month (to avoid odd months where bank holidays mean a standing order set up for the 30th doesn't go till the 1st)

Day 20: 1000 from vantage1 > vantage 2
Day 20: 1000 from vantage2 > vantage 3
Day 20: 1000 from vantage3 > vantage 1

The £1K does NOT have to come from an external source. You just have to ensure each Vantage account receives £1K in credit each month.

I was planning something similar. Only have one account at present, but going to try for a second one soon.

fablad75

I have three Lloyds accounts and three Halifax Reward accounts, and they all have the same funding criteria. So once a month, £1000 is sent by standing order from each Lloyds to each Halifax account, and back again a few days later. I lose a bit of interest this way, but it really isn't that much, and this way I minimise the chances of my accounts being flagged up for abuse!

G_M

So once a month, £1000 is sent by standing order from each Lloyds to each Halifax account, and back again a few days later. I lose a bit of interest this way, but ...

So £3000 is sitting around earning nothing for no reason each month? Why not shunt £1K from 1 Vantage, round the 3 Halifax accounts and back.

Myself I let the internal Standing Orders deal with the Vantage accounts, and do same-day Faster Payments manual transfers for the Halifax ones. £1K in, round and out all in a day.

fablad75

£3k goes out, spends a couple of days in my Halifax accounts, then toddles off home again to my Lloyds accounts - that's all.

I probably lose about 50p interest a month per account this way, but I'd rather have all six accounts funded externally.

D1zzy

I have 7 Vantage accounts and 3 Reward accounts.
Once a month I move £1000 from Vantage 1 through all to Vantage 7 then on to Halifax 1 >2>3 then back to Vantage 1.

I like to do it manually so I can see everything has worked & don't have to worry about weekends and bank holidays
Both banks have quick transfer options for internal transfers, and both have FP so the whole thing takes less than 5 mins. :j

No problems with the thought police so far

info_maniac

D1zzy wrote: »

I have 7 Vantage accounts and 3 Reward accounts.
Once a month I move £1000 from Vantage 1 through all to Vantage 7 then on to Halifax 1 >2>3 then back to Vantage 1.

I like to do it manually so I can see everything has worked & don't have to worry about weekends and bank holidays
Both banks have quick transfer options for internal transfers, and both have FP so the whole thing takes less than 5 mins. :j

No problems with the thought police so far

Does having so many current accounts effect your credit rating. I believe every time you apply for a current account - a credit check is done and your credit rating goes down by some "unknown" proportion.

Just asking this out of interest, as I am going to apply for 3 reward accounts very soon. :beer:

D1zzy

info_maniac wrote: »

Does having so many current accounts effect your credit rating. I believe every time you apply for a current account - a credit check is done and your credit rating goes down by some "unknown" proportion.

Just asking this out of interest, as I am going to apply for 3 reward accounts very soon. :beer:

I have never checked it, but have never been turned down for a current account and have not applied for any other credit for years.

scottishblondie

info_maniac wrote: »

Does having so many current accounts effect your credit rating. I believe every time you apply for a current account - a credit check is done and your credit rating goes down by some "unknown" proportion.

Just asking this out of interest, as I am going to apply for 3 reward accounts very soon. :beer:

info_maniac, just so you know I don't think you can get 3 Reward accounts with HBOS anymore. I could be wrong, but I think that ship sailed at the beginning of November. As far as I understand you are now limited to 1 joint account and 1 individual account.

info_maniac

scottishblondie wrote: »

info_maniac, just so you know I don't think you can get 3 Reward accounts with HBOS anymore. I could be wrong, but I think that ship sailed at the beginning of November. As far as I understand you are now limited to 1 joint account and 1 individual account.

Looks like, I have missed the bus then.

I have 2 classic vantage accounts now and am soon going to open the third. I plan to add my wife as a joint account holder to all these three accounts.

However, she als plans to open 3 x classic vantage accounts in her name.

Will it be a problem if she is a joint account holder with me for 3 accounts and then goes on and applied for 3 x classic vantage 'individual' accounts.

D1zzy

info_maniac wrote: »

Looks like, I have missed the bus then.

I have 2 classic vantage accounts now and am soon going to open the third. I plan to add my wife as a joint account holder to all these three accounts.

However, she als plans to open 3 x classic vantage accounts in her name.

Will it be a problem if she is a joint account holder with me for 3 accounts and then goes on and applied for 3 x classic vantage 'individual' accounts.

I'd say open the 3 in her name first - then add try and her to yours, if you can you win