Lloyds Vantage account

Baldur

MoodyBlues wrote: »

Thanks for the info Baldur. Say I had £100 in the account, how much monthly interest would that be?

Virtually nothing - the annual rate for balances below £1,000 is 0.10% AER.

For the maximum £7,000 balance @ 4% AER, the monthly interest varies between approximately £15 & £20.

The rates are tiered - see http://www.lloydstsb.com/current_accounts/classic_and_classic_plus_accounts.asp

Rollinghome

MoodyBlues wrote: »

Thanks for the info Baldur. Say I had £100 in the account, how much monthly interest would that be?

Rate would be 0.10% gross, so £0.10p a year - less tax.

MoodyBlues

Thanks for the info scottishblondie and baldur.
Still need to pay my debts off a lot more to take full advantage of it then!

savetilibleed

MoodyBlues wrote: »

Thanks for the info Baldur. Say I had £100 in the account, how much monthly interest would that be?

That only earns 0.1% so virtually nothing. You need to have between £5k and £7K to earn the 4% AND transfer £1k in and out.

D1zzy

D1zzy wrote: »

I have done 1K x 10 from a single account in a day when the transaction limit was 1K. I believe this is now £2.5K and have certainly done a single transaction recently for > £1K

Just to update I have now done FP transfers for 2 x £2500 without problem so the transaction limit is at least £2500

Rollinghome

D1zzy wrote: »

Just to update I have now done FP transfers for 2 x £2500 without problem so the transaction limit is at least £2500

So £5000 in a day from the same account? That's good.

For the paying in of £1K a month requirment, can you just transfer it between your own two Vantage accounts or does it need to be from an external account?

dorsetlass

D1zzy wrote: »

Just to update I have now done FP transfers for 2 x £2500 without problem so the transaction limit is at least £2500

Were the 2 transfers both on the same day, i.e. £5k total on one day. If so, do you know whether there is a 'daily' limit. Thank you.

Rollinghome

Rollinghome wrote: »

For the paying in of £1K a month requirment, can you just transfer it between your own two Vantage accounts or does it need to be from an external account?

Answer to that seems to be yes.

D1zzy

dorsetlass wrote: »

Were the 2 transfers both on the same day, i.e. £5k total on one day. If so, do you know whether there is a 'daily' limit. Thank you.

Yes from the same account within a a few secs of each other. I believe the daily limit is 10K and the transaction limit which used to be £1K has been raised to at least £2.5K. Other posters had mentioned the new limit, but I had not tested it until today.

D1zzy

Rollinghome wrote: »

So £5000 in a day from the same account? That's good.

For the paying in of £1K a month requirment, can you just transfer it between your own two Vantage accounts or does it need to be from an external account?

Yep A>B>A - manually (takes just a few secs) or by SO