First Direct or Lloyds TSB

blueberrypie

Lloyds Vantage pays 4% on balances between £5k and £7k. It also requires funding of £1k per month (the funding money can be transferred in and back out, it doesn't need to stay there). If that suits your needs then yes, it's a good place to put your savings.

EarthBoy

J3OEF wrote: »

.. does anyone know if i have a FD account and transfer money instantly to say my mum who banks with Halifax, will it be INSTANT and no a day or 2.

Payments from FD are always sent by faster payments providing the receiving bank sort code accepts them, and they are within the transaction limit.

I have sent payment from FD to Halifax and they are done instantly.

J3OEF wrote: »

.
what savings account will i need to open so i dont have to pay the £10 fee or credit £1500 per month.

The everyday e-saver is fine.

J3OEF wrote: »

.I am looking to save but want easy access as we are saving for a wedding so as time does on we will need to pay for things etc, is this possible with FD?

When are you getting married? If it's over 12 months away then I recommend you open FD's regular saver account. If it's less than 12 months away this won't be any good, so look at accounts elsewhere. The FD everyday e-saver is convenient for keeping a small amount of money in which you might need quickly, but don't keep a lot in it as the interest rate is rubbish.

J3OEF

Hi,

I am getting married next august, so its just over a year away lucky me.

Wonder if A&L accept Faster Payments considering they dont seem to send them anymore lol.

How long does it usually take to recieve a decision from them, applied this afternoon. Also never done this before so would i need to notify my employer when and if i get the account or will FD do this? and more importantly how long before getting me free £100 :">

EarthBoy

You will have to notify your employer yourself if you want your wages paid into your FD account. You have to give them the account no. and sort code.

I don't know about the £100, but others on here will tell you about that.

central

I've had a Lloyds account now for 20 years. Never any problems, the internet banking is much much nicer than first direct imo. The verification of new payees by phone with a pin number is just excellent

J3OEF

have just had an email from FD telling me forms are on their way and i need to sign and return it and go from there. I didnt get asked if i wanted a OD or not so does it auto set up the £250 one they state on their site or is it depending on circumstances.

thanks

EarthBoy

Everybody automatically gets an OD of at least £250, and this is interest free. You might get an higher limit, -depending on your credit score, but only £250 of it will be interest free.

FD don't tend to accept customers at all if they wouldn't give them an overdraft.

J3OEF

again, thank you :-)

So if and when im accepted, i will recieve my bank details such as sort and acc etc, am i then ok to give this to my employer? Im worried as i get paid weekly, my A&L might close thus wages not going in and then my work may not of done it on time and then all my direct debits get mssed etc? or is it all a simple process

EarthBoy

It depends when you get paid. Your payroll department will need your new bank details well before your pay day. You will need to ask them how much notice they need and then you can arrange to have your salary/wages paid into your new FD account at a convenient time.

J3OEF

So from what your saying, i personally wil need to inform my works, but for the time being it will continue to go into the A&L account which will stay open for a while yet untill all DD and stuff are transfered? whats the turn around time for all this