Lloyds TSB Vantage - Multiple accounts

brass_in_pocket

Saver£££ - what you are doing regarding the transfers between accounts is fine, it doesn't have to be different days or anything like that; as long as the £1K is in each account for a millisecond or longer then it triggers the 'requirement met'.
However, you would be better moving £2K from your '£7K account' to your '£3K account' so that you have £5K in each.
The interest rate for £5K to £7K is 4%, but only 3% for £3K to £5K.

Beaten to it by earlier poster!

psychic_teabag

If you have just over £10k, then splitting 5k/5k would be best. But if you have just under £10k in total, then splitting £5k / just-under-5k would be worse (since you'd only be earning 4% on £5k rather than £7k as now).

bob_a_builder

Been unable to upgrade my wife account to Vantage,
The online system said "unable to that " but to to phone, that doesn;t work either since wouldn't allow us to telephone bank, due to confusion of the designated branch needed a temp password but they dragged their heels sending, still not got it

But this technique worked a treat - job done !!!

Thanks to a&akay for that one

partlydave

BFM wrote: »

went into the branch to set up a vantage account for me. wife and join

my wife is a zero rate tax payer so would clearly like to get as manay of these accounts for her as possible.

i can't see anywhere on the screen jumping out how to do that online, but fair chanvce i'm being dumb. where on the online banking screen is the apply for more vantage accounts options?

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

hope this helps

LeifGR

Someone describes in this post how their account was closed without explanation. Obviously it could have been any reason, but I was wondering if anyone has heard of LTSB closing accounts simply because they have no activity other than the bouncing of £1,000 between them?

soulsaver

LeifGR wrote: »

Someone describes in this post how their account was closed without explanation. Obviously it could have been any reason, but I was wondering if anyone has heard of LTSB closing accounts simply because they have no activity other than the bouncing of £1,000 between them?

Well technically if they have money sitting in them they're active and transfers are MORE action. They can write the algorithms to find the rule breakers if they so wish, but to date they turn a blind one. I was challenged by one jobsworth when I had a big credit hit. I said I opened 'em before the rule was in the t& c's. If she wanted to argue she'd have to go do some work... usually stops that type in their tracks. Avoid BIG balances/transfers in as it gets picked up for money laundering and marketing - someone only follows up with trying to push a LTSB product but it brings it into focus.
PS I couldn't be bothered to track back but you can have 3 in your name AND 3 in the wifes for certain. Can't you have 3 in joint as well?

kar999

If they tried that with me I would threaten to close all my accounts and take the whole of my business elsewhere.... with the usual letter to the CEO naming the branch and managers name!!

Milarky

Has the theory been advanced that you can open 3 online accounts in addition to any those you opened 'in-branch' before-hand?

[That may explain how I got to 4 - 3 of which I opened online..]

gndalph

I've just opened a new Vantage account in branch and the lady told me that from 29th June 2011, they will be ditching the top rate, so you can only have a max of £5000 in the account earning 3%

Has anyone else heard this?

10_66

gndalph wrote: »

I've just opened a new Vantage account in branch and the lady told me that from 29th June 2011, they will be ditching the top rate, so you can only have a max of £5000 in the account earning 3%

Has anyone else heard this?

Blast! It's been so good not having to swap my accounts around for better rates for the last couple of years'. Back to the drawing board then from June.

Just checked with them and they confirm this. Balances from £1 to £1,500 the rate will be 1.5%, balances between £1,000 to £3,000 will be 2%, and balances between £3,000 to £5,000 will be 3%.


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