Lloyds TSB 5% Monthly Saver

Biggles

Westy wrote: »

Acc opening date e.g 15th Oct (anniversary date)
1st payment Oct 31st, 2nd payment 2nd November (for examples sake) There's the first 2 standing orders done for max interest on £500. The other payments would take to at latest the end of September. The 15th October is the anniversary, and that's your 12 done for the 5%. After that it's Easy Saver time and the fun is over

The 13th payment, using your example, would be on 2 Oct 11. There's no mention anywhere of '12 and then it's done' as long as everything's done before the anniversary.

Funkyfreddy

Westy wrote: »

I know it was not directed at me personally, however i was not referring to the T&C's, i was merely going by what we were told in the staff briefing about the account. The trainer had clearly done his homework, as had i, i'm not a cluless idiot like some bank staff We've seen all the tricks before, just try your luck with it and if 13 go in and no comeback, happy days :cool:

:eek: I'd rather hear that your briefings are based on the actual T&C's !

Only highlights what many (most ?) on here know already in so much as many Customer facing staff providing financial products don't always provide consistant or accurate information.

I was told several times that the Standing Order must come from a Lloyds Account - "thats what we have been briefed" when in fact the T&C's make no mention of this and your account confirmation documents clearly state to use the provided Account details "If you are setting up a standing order with another bank".

Westy wrote: »

Acc opening date e.g 15th Oct (anniversary date)
1st payment Oct 31st, 2nd payment 2nd November (for examples sake ) There's the first 2 standing orders done for max interest on £500. The other payments would take to at latest the end of September. The 15th October is the anniversary, and that's your 12 done for the 5%. After that it's Easy Saver time and the fun is over

So what about the Standing Order that goes out on the 2 October that earns interest (albeit no great sum !) until the 15 October.

There is no fixed 12 Standing Order Payments - as you point out the T&C state that it will revert to a "Easy Saver" Account (or similar) on its anniversary and will continue to accept SO payments until you cancel it.

FF

gt94sss2

I opened one of these accounts at a branch this week and the member of staff manually transferred the opening deposit from my Vantage account to the Monthly Saver.

I'm now trying to set up a standing order for the remaining payments and from my Vantage account have gone to 'Standing Orders/One of your accounts' but under 'Select the LloydsTSB account below' the Monthly Saver doesn't appear.

Can anyone confirm this is the same for other people or should this account appear there? (EDIT: I can see it on the 'account dashboard' - its just not listed under 'One of your accounts' for SO purposes)

Regards
Sunil

adindas

It should apper on your internet banking together with your othet Lloyds TSB account.

Juts allow about 1 working days (24 hours). So check it on Tuesday then it should apper by then

ADINDAS

gt94sss2 wrote: »

I opened one of these accounts at a branch this week and the member of staff manually transferred the opening deposit from my Vantage account to the Monthly Saver.

I'm now trying to set up a standing order for the remaining payments and from my Vantage account have gone to 'Standing Orders/One of your accounts' but under 'Select the LloydsTSB account below' the Monthly Saver doesn't appear.

Can anyone confirm this is the same for other people or should this account appear there?

Regards
Sunil

adindas

It would have been better if 'Westy' could refer to section in T&C which section clearly mention that you will get easy saver interest (not 5% interest ) if you have paid 12x. Here we are talking about before reaching the a/c annyversary date and SO monthly payment.

ADINDAS

Frogletina

gt94sss2 wrote: »

I opened one of these accounts at a branch this week and the member of staff manually transferred the opening deposit from my Vantage account to the Monthly Saver.

I'm now trying to set up a standing order for the remaining payments and from my Vantage account have gone to 'Standing Orders/One of your accounts' but under 'Select the LloydsTSB account below' the Monthly Saver doesn't appear.

Can anyone confirm this is the same for other people or should this account appear there?

Regards
Sunil

I find this very strange as mine was opened in branch and was online when I got home.

In fact I am sure it was online while I was still there as the adviser also set up the standing order - she said that this time an opening deposit by transfer would not be accepted on this new monthly saver

gt94sss2

Frogletina wrote: »

I find this very strange as mine was opened in branch and was online when I got home.

Yes, it was available online when I opened it on Wednesday - its just not listed as 'one of my acccounts' when I want to create a SO from my current account - and I was wondering if this same for others?

I guess I could always put in all the SO details manually, I just found it a bit curious..

Regards
Sunil

Baldur

gt94sss2 wrote: »

Yes, it was available online when I opened it on Wednesday - its just not listed as 'one of my acccounts' when I want to create a SO from my current account - and I was wondering if this same for others?

I guess I could always put in all the SO details manually, I just found it a bit curious..

The initial transfer could be a possible problem, as the terms say:

DEPOSITS AND WITHDRAWALS
2.1 You can only pay money into the Account by your Standing Order.

gt94sss2

Baldur wrote: »

The initial transfer could be a possible problem, as the terms say:

I just called Lloyds who thankfully say that the account/opening deposit is fine - and they set up a standing order for me. though I think they did it the "long way around"...

Regards
Sunil

dazeruk

gt94sss2 wrote: »

Yes, it was available online when I opened it on Wednesday - its just not listed as 'one of my acccounts' when I want to create a SO from my current account - and I was wondering if this same for others?

I guess I could always put in all the SO details manually, I just found it a bit curious..

Regards
Sunil

I checked from my account for you.

The monthly saver isn't showing as a viable destination account when creating a new standing order mandate.