Lloyds TSB Vantage - Multiple accounts

kar999

http://www.e-banking.co.uk/news/2011/Mar/lloyds-tsb-is-to-change-the-interest-rates-on-its-vantage-current-account-97043332.html

Lloyds TSB is to change the interest rates on its Vantage current account

Thu, 31 Mar 2011

Lloyds TSB has announced that it will be introducing some changes to the tiered interest rates on the Vantage current account, which will come into effect on 27 June 2011.

According to bank, Vantage offers customers a better return as the rates of interest vary and are based on a tiered system, which depends on the daily balance. In addition, it doesn’t drop to a ‘standard rate' after an introductory term.

Customers with lower balances will see a jump in rate from 0.1 per cent to 1.5 per cent. As of June 27, there will be three interest rate tiers (instead of four). The tiered rates for balances between £1-3k earning 2 per cent and balances between £3-£5k earning 3 per cent will remain the same. The top tier rate of 4 per cent on balances over £5k will be removed.

Philip Robinson, Lloyds TSB comments: "With Vantage, customers can earn up to 3 per cent AER on their current account. We are simplifying rates and broadening accessibility to customers, most notably those with lower balances. Customers have the potential to earn up to £148 each year by opting for the right current account ."

Chadsman

bwwaaaaaaaaaaahhhh!

10_66

Chadsman wrote: »

bwwaaaaaaaaaaahhhh!

There, there, then (sob, sob).

tillycat123

soulsaver wrote: »

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.
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?

Me and OH have 9 between us!

Rollinghome

tillycat123 wrote: »

Me and OH have 9 between us!

Expect a knock at the door any day soon.

carpy

Booooooooooo!!!! no more 4%....

DocProc

Suck the suckers in and then...............

Hmmm? Is this that new ex-Santander CEO guy's handywork?

Ah well. At least we have the best part of 3 months to find somewhere else for our money.

Just_landed

Hmmm? Is this that new ex-Santander CEO guy's handywork?

---

Somebody has to pay his welcoming bung.

:rotfl:

whu

kar999 wrote: »

http://www.e-banking.co.uk/news/2011/Mar/lloyds-tsb-is-to-change-the-interest-rates-on-its-vantage-current-account-97043332.html

Lloyds TSB is to change the interest rates on its Vantage current account

Thu, 31 Mar 2011

Lloyds TSB has announced that it will be introducing some changes to the tiered interest rates on the Vantage current account, which will come into effect on 27 June 2011.

According to bank, Vantage offers customers a better return as the rates of interest vary and are based on a tiered system, which depends on the daily balance. In addition, it doesn’t drop to a ‘standard rate' after an introductory term.

Customers with lower balances will see a jump in rate from 0.1 per cent to 1.5 per cent. As of June 27, there will be three interest rate tiers (instead of four). The tiered rates for balances between £1-3k earning 2 per cent and balances between £3-£5k earning 3 per cent will remain the same. The top tier rate of 4 per cent on balances over £5k will be removed.

Philip Robinson, Lloyds TSB comments: "With Vantage, customers can earn up to 3 per cent AER on their current account. We are simplifying rates and broadening accessibility to customers, most notably those with lower balances. Customers have the potential to earn up to £148 each year by opting for the right current account ."

Does that mean anything over 5k earns no interest ?

skitskut

whu wrote: »

Does that mean anything over 5k earns no interest ?

https://forums.moneysavingexpert.com/discussion/3142458