Lloyds TSB Vantage - Multiple accounts

dov

carpy wrote: »

no chance of getting 7 now then....

is anyone still managing to get more than the 3 limit??

i'm sure a few of my 6 have been since the limit was brought in....

I've got 5. I had to wait a while after opening 3 to open the other 2 online.

I tried for a 6th but got a letter saying I had to go into branch to open one. I haven't bothered to do that.

Newly_retired

I got a letter too saying I had to go into branch, but it was no trouble. They did not make any difficulties for me.

cgzz

Am I misunderstanding Vantage? 4% interest tax free but with a monthly £12 account fee? If that's correct then 4% interest on £7000 is £23.33/month. When the account charge is taken off the interest reduces to £11.33 which is equivalent to about 1.94%. The eSavings account pays 2.6% gross interest or 2.08% net. Why have multiple Vantage accounts?

oldfella

yes you misunderstand; its not tax free and there is no monthly charge

Stochasticity

cgzz wrote: »

Am I misunderstanding Vantage? 4% interest tax free but with a monthly £12 account fee? If that's correct then 4% interest on £7000 is £23.33/month. When the account charge is taken off the interest reduces to £11.33 which is equivalent to about 1.94%. The eSavings account pays 2.6% gross interest or 2.08% net. Why have multiple Vantage accounts?

There are five types of current account from Lloyds with which you can have Vantage.

Classic - no monthly fee
Silver - £8 per month
Gold - £12 per month
Platinum - £17 per month
Premier - £25 per month

It's that top one that you're after, the 'Classic Current Account with Vantage' (to give it it's full name).

cgzz

OK thanks for clarifying that

G_M

Of course it can be tax free if you are a non tax payer!

adindas

Dear Newly retired

Could we have info how many Vantage a/c have you got sofar before you manage to open another one in branch.

Do you mean that you have got 3 a/c and than you go to the bran and you manage to open the 4th one ?

I was asking because nowadays I have seen many people have reported that they could not manage to get more than 3 Vantage a/c. A lot of people in this forum seeking the opportunity to open more vantage a/c so if you could shed the light we could learn from it.

ADINDAS

Newly_retired wrote: »

I got a letter too saying I had to go into branch, but it was no trouble. They did not make any difficulties for me.

LeifGR

I've had a Vantage account for about 9 months and the time had come to open another one, so I applied for a new Curent Account. When I then tried to upgrade, it told me they could not offer me any upgrades (this was with a balance of £0).

I then put £7,000 in, thinking that this might trigger my eligibility. Now I can upgrade to a Silver Account with Vantage, which is obviously not what I want.

Has anyone else had this issue? Do I need to phone or go in to the branch?

I have tried every permutation of how to upgrade, including a&akay's steps in post 454.

Tigger123

Hello, Just in the process of opening these accounts. Once I have deposited my £7000 in to each account do I then just add another thousand to account A then transfer it to account B and C and back to A again? How longs does this £1000 need to sit in each account for? And when in the month does it need to appear in each account?

Thank You.