Lloyds TSB 8% monthly saver

mary

If it's only 200 yards, get some exercise, it will be quicker, provided you don't forget!!!!

Ken68

Is this 8% Lloyds a/c open for old people. The popular A and L 10% isn't....I was told "it's not for you", T and C's exclude. The Norwich and Peterborough 8% is open to Over 60's but have to jump a few hoops.
The best no tricks oap route is Coventry 6% current account.

Yorkshireman_3

mary wrote:

If it's only 200 yards, get some exercise, it will be quicker, provided you don't forget!!!!

Thanks mary m im 57 nearly 58 so 200 yds aint much -- but its a shame it takes up to 5 days to transfer money from one internet bank to another --- ud think it could be instant nowadays with the tecknowledgy --spelt wrong sry --- old age

grumbler

Yorkshireman wrote:

...or should i walk the 200 yds between the Halifax and LLoyds each month and put £250 manually into the account??

If transfer takes 4 days on average, the price of every walk is about

£250*4%*4/365=£0.11 gross.

This is about 1p for every 20 yards .
However, I don't understand why you need to walk from Halifax to Lloyds. Why cannot you use an ATM in the Lloyds branch to withdraw money from Halifax account and to pay it into your Lloyds account over a counter?

Yorkshireman_3

grumbler wrote:

If transfer takes 4 days on average, the price of every walk is about

£250*4%*4/365=£0.11 gross.

This is about 1p for every 20 yards .
However, I don't understand why you need to walk from Halifax to Lloyds. Why cannot you use an ATM in the Lloyds branch to withdraw money from Halifax account and to pay it into your Lloyds account over a counter?

Heeheh nice one -- will prob take ur advice

regularsaver1

because its from an internet account? - unless you have an account with halifax with a card that you can transfer the money to from the internet account - jeeezzz!!!

grumbler

regularsaver1 wrote:

because its from an internet account? - unless you have an account with halifax with a card that you can transfer the money to from the internet account - jeeezzz!!!

Well, how can you withdraw money from an internet account in a Halifax branch then? AFAIK Halifax websaver can be operated only online - there is no point in visiting a branch.

regularsaver1

oh yeah didn't think - its a palava isn't it

although the websaver has a card option with lower interest

i think i'd stick the the halifax regular saver, easier

Yorkshireman_3

regularsaver1 wrote:

oh yeah didn't think - its a palava isn't it

although the websaver has a card option with lower interest

i think i'd stick the the halifax regular saver, easier

Ive already got those to the max

lipidicman

Kazza242 wrote:

Lipidicman,
The section above where you wrote that the LTSB current account must be used as your main account ( ie have an income paid into it), is incorrect as far as I'm aware. .....According to the T&C's there is no requirement to pay one's salary into the LTSB current account.

The 'main account' condition (as stated in the T&C's) is rather a confusing one, which might explain why so many people believe that the SO must come from their LTSB current account. Afterall, if one has decided against moving their salary over to Lloyds and also decides not to setup their SO from their LTSB current account, how can it be seen as being one's main current account?

... As things stand now, because I have to fund the LTSB current account to feed the monthly saver, my current account is always 'actively' being used. Without this, I think it's likely that my monthly saver would be prematurely converted into a guaranteed tracker!

Oh I agree that 'main account' does not necessarily mean a salary must be paid in. It is not clear how lloyds will interpret this. Usually if there is a regular income of money into the account they are happy (they do not usually specify salary just 'credit' eg for their classic plus account)

I still cannot see that the T&Cs would be broken if you use your lloyds CA as your main account and have money going through it, yet decide to make the SO from elsewhere. I cannot see the point in this though due to lost interest on the transfer and since you have a lloyds CA you may as well pay from there (even if you have to walk the money down the road in your pocket)