Lloyds TSB 5% Monthly Saver

Michael_Corleone

Dagobert wrote: »

You can use (0800) 015 4000 to apply.

The tape says this is for current account applications only. Just ignore and press 1 to apply.

Done! Worked a treat - cheers Dagobert!

They said they could arrange my first SO payment 3 days from now, so they set it up for the 18th. Told me to wait 24/48 hours for it to appear on Internet Banking.

Biggles

Michael_Corleone wrote: »

They said they could arrange my first SO payment 3 days from now, so they set it up for the 18th. Told me to wait 24/48 hours for it to appear on Internet Banking.

That's what they told me Wednesday; it's still not visible online and the SO (also due on the 18th) is now due on the next working day.

I just rang again and it's not been done, so they expect to have to move the SO date back to Tue 19th. I did it in branch last time; I'll do it that way another time!!

jennifernil

Was passing our branch today so went in to see if i could open one.....no problem, no appointment needed, only took about 10 minutes.

One thing they said was that the SO needs to be from a Lloyds account (which I have), is that correct?

Stochasticity

Set mine up by phone yesterday (14th), showing online today within 24 hours. Standing order originally set up for next Wednesday (20th), but no problem bringing that forward to Monday (18th), and I'll then change it to the 1st of the month to get the 13 payments in.

Yes, you need to have an existing Lloyds current account to open the Monthly Saver.

Biggles

Biggles wrote: »

That's what they told me Wednesday; it's still not visible online and the SO (also due on the 18th) is now due on the next working day.

I just rang again and it's not been done, so they expect to have to move the SO date back to Tue 19th. I did it in branch last time; I'll do it that way another time!!

It became visible online about an hour after my call. But the SO hadn't been set up. Purely because I had logged in at the right time and seen it, I was able to set up a SO for Mon 18 Oct. But not impressed.

jennifernil

I opened mine on Friday 15th, it appeared on-line on Saturday morning. The SO was set up for the 16th, but as that was a Saturday, it didn't go in until Monday 18th.

I had asked for the regular SO to be on the 2nd, which presumably they would have altered after today, but I have amended it myself now.

There was also a "last payment date" given, which was 16th September 2011, but I have amended this to 2nd October 2011, thus making 13 payments in all as in a post above.

So are Lloyds really going to be OK with 13 payments? I know a lot of you have done this with Halifax, but I have not done it before as my account was opened near the start of a month anyway.

earthlover

I have current vantage accounts which i guess would make me eligible for a monthly saver account.

I use these as savings accounts though, and my main current account is with a different bank.

I don't want to have to transfer cash into the vantage accounts as this could affect my interest. I would prefer to pay the s/o through my other bank. Is that possible?

jennifernil

I am in the same position, but the lady in the branch said it had to come from a Lloyds account. I presume this must be correct.

I will just set up a SO from my HBOS account to my Vantage, it goes by FP anyway.

dazeruk

earthlover wrote: »

I have current vantage accounts which i guess would make me eligible for a monthly saver account.

I use these as savings accounts though, and my main current account is with a different bank.

I don't want to have to transfer cash into the vantage accounts as this could affect my interest. I would prefer to pay the s/o through my other bank. Is that possible?

Not sure why you think it will affect the interest on your vantage account?

The T&Cs of this account state that you have must have current account with Lloyds to be eligible to open a monthly saver. However, once you meet that eligibility, it's unclear where the standing order has to come from. The T&Cs simple refer to your 'Standing Order'. I can't see anywhere that it states the SO has be from a Lloyds account.

adindas

My understanding is that, there is not any requirement that SO have to come from Lloyds TSB group. I could be from any other banks but it has to be paid by SO and not ordinary transfer.

This is also common prectice to any other RSA accounts. A lot of people in this forum have RSA with building society and SO come from a/ac from another bank.

ADINDAS

dazeruk wrote: »

Not sure why you think it will affect the interest on your vantage account?

The T&Cs of this account state that you have must have current account with Lloyds to be eligible to open a monthly saver. However, once you meet that eligibility, it's unclear where the standing order has to come from. The T&Cs simple refer to your 'Standing Order'. I can't see anywhere that it states the SO has be from a Lloyds account.