Lloyds TSB Vantage - Multiple accounts

hethmar

Ah, but do you mean 3 for your wife and 3 for you?

hethmar

God knows how you do it then. The bank manager was down on me like a flash a couple of weeks ago when I asked in branch about opening a 4th account! And now the internet lot are telling me no way pedro.

KTF

Have you been to the site and applied rather than go in branch? There is an option to apply on the Current Account information page rather than go through online banking.

Rupert_Bear

I have applied for another classic account and it was set up today. However if I want to add advantage to the account I have to now upgrade to a silver account. I wandering if anyone else has found this.

Jake'sGran

property.advert wrote: »

Can someone talk me through opening 3 accounts in the bank at the same time. I walk in with £21k and then what ? Will they just open 3 accounts ?

I am going to see how the first account goes before opening another two.

I have put £6k in my first Classic a/c (opened on line) and then I phoned asking them to make the upgrade to Vantage which was straightforward. Then I opened an Esaver as suggested on here. It pays 2.5% for deposits over £10k. I put £11k in it and will move the £1000 back and forth between the Classic with Vantage and the Esaver. This is just for faster transfers. You can open 3 Classic accounts on line each with £6k and put the other £3k in some other a/c and arrange your transfers to and from the Classic a/c each month.

I do hope this helps. If it is still not clear someone else will make it clearer - I hope.

D1zzy

Jake'sGran wrote: »

I am going to see how the first account goes before opening another two.

I have put £6k in my first Classic a/c (opened on line) and then I phoned asking them to make the upgrade to Vantage which was straightforward. Then I opened an Esaver as suggested on here. It pays 2.5% for deposits over £10k. I put £11k in it and will move the £1000 back and forth between the Classic with Vantage and the Esaver. This is just for faster transfers. You can open 3 Classic accounts on line each with £6k and put the other £3k in some other a/c and arrange your transfers to and from the Classic a/c each month.

I do hope this helps. If it is still not clear someone else will make it clearer - I hope.

If you have 11K in an esaver - why not open 2 more vantage accounts (with say 5K & 6K) - you can then get 4% on all your money and do the £1k shuffle A>B>C>A each month to meet the monthly £1000 through the account, requirement.

DimSum

Jake'sGran wrote: »

I am going to see how the first account goes before opening another two.

I have put £6k in my first Classic a/c (opened on line) and then I phoned asking them to make the upgrade to Vantage which was straightforward. Then I opened an Esaver as suggested on here. It pays 2.5% for deposits over £10k. I put £11k in it and will move the £1000 back and forth between the Classic with Vantage and the Esaver. This is just for faster transfers. You can open 3 Classic accounts on line each with £6k and put the other £3k in some other a/c and arrange your transfers to and from the Classic a/c each month.

I do hope this helps. If it is still not clear someone else will make it clearer - I hope.

If I have understood you correctly, you have £ 17 000 within Lloyds. I wouldn't bother with that esaver.
Put £ 6000 in two of your Vantage accounts and £5000 in your third.
Each month send £1000 between your three accounts either manually or set up standing orders between the three accounts. Then you are getting 4% on the whole £ 17 000 rather than 2.5% on £11000 and 4% on £6000.

Aha. Previous poster got there first.

ric2003

noh wrote: »

If you have multiple Lloyds accounts there is no need for a standing order from an external account. Just transfer £1000 between your Lloyds accounts manually or by SO.
I do mine manually £1000 from account 1 -> 2-> 3-> 1

if you set up a SO from one Lloyds current account to another, does it go through on the same day?

Chadsman

ric2003 wrote: »

if you set up a SO from one Lloyds current account to another, does it go through on the same day?

Yes
:beer:

DocProc

I think the 'online glitch' on this has now been found and has also now been fixed by Lloyds TSB.

Yes, you can still open a Classic current account. However, after logging into your Classic account, the old link, which was previously at the BOTTOM of the page and inviting you to 'Add Vantage', has now been removed.

There are two other 'upgrade links' but both of these now advise that you already have an account, which is 'Classic with Vantage' and the only upgrade option available is to upgrade to 'Silver'

Silver has benefits of course but, after a cheaper charges bonus deal lasting two months, ends up costing you about £180 per year in charges for said benefits. This nets off your interest on the account, even with a continuous balance of £7,000, back down to about 1.8% (Gross) or so.

So, even having cleared cookies very, very carefully before opening and accessing these accounts, wifey and I now have slightly more than our quota (three) of accounts with Vantage. We now each of us also have a useless Classic current account, that's not upgradeable to Vantage, and each account with nothing useful which we are able to do with it.

Bummer.

Anyone got any more bright ideas?