Lloyds TSB Vantage - Multiple accounts

Newly_retired

I have three Vantage accounts. I opened the first one online, but had to go into branch for the other two - on separate occasions, when I had money matured from other accounts. I keep £7K in each and just move £1K around between them and two Halifax Reward accounts. I do this manually - my choice, b ut it can be done within seconds of each move.

kar999

StanLFC wrote: »

Interesting stuff!

I'll give it another go then, I'll also use the "I know other people who have 3 open" excuse too.

Cheers!

Print & take a copy of their own T&C's with you! (Below is the right link.. the previous link was just the general Vantage blurb.)
Line 4 says it all!! "You can have a maximum of 3 accounts with Vantage."

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

scottishblondie

Just opened my third account with Lloyds I was worried I'd have trouble upgrading to Vantage as I'd seen some people say you can't do it online, and admittedly it wasn't terribly obvious but I did find the right button. It's shame I don't have another 5k to put in it right now!!

LeifGR

LeifGR wrote: »

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

jennifernil wrote: »

Use the phone....it's free, no hassle, very helpful staff.

Just spoke to a friendly rep on the phone and allegedly I'll have Vantage on my 2nd Classic account within 24 hours!

whu

I'm getting £16.88 net in my vantage at the end of the month and have the full £7k in it and topped it up by £1K during the month - is that the correct amount of interest?

jampratt

can the interest on these vantage account be pid gross if i fill out form R85, im not working atm and wondered if the same rules apply for current acounts?

Audiman7

Yes it can.

dazeruk

whu wrote: »

I'm getting £16.88 net in my vantage at the end of the month and have the full £7k in it and topped it up by £1K during the month - is that the correct amount of interest?

Yeah, £16.88 is the correct amount for January.

Don't forget that the December interest was calculated up the 4th January due to the holiday period and was therefore slightly higher.

The January interest period isn't for a full 31 days.

Jonbvn

whu wrote: »

I'm getting £16.88 net in my vantage at the end of the month and have the full £7k in it and topped it up by £1K during the month - is that the correct amount of interest?

It is the same amount of interest as I received this month (for each account), so I assume it is correct.

grumpycrab

Something like this?

7000 * 0.0314 (Net rate assuming lower rate tax) = 219.8 (interest per year)
219.8/365 = 0.60 (interest per day)

So I reckon £16.88 is about 16.88/0.60 = 28 days of interest. (January).