Lloyds TSB 5% Monthly Saver

Rollinghome

Funkyfreddy wrote: »

Based on my sample of one customer service person on the Llloyds Saving team they did say that the Standing Order has to come from your Lloyds current account.

I can't see any reference to the SO needing to be from a Lloyds account. The account specific conditions seem to be under the "Important information" tab:

1. ELIGIBILITY
   1.1 To have the Account you must be 16 or over and have a current account with us.
   1.2 You can only have one Account in either your sole name or held jointly.
   1.3 You must agree to set up a standing order into the Account for one payment of between £25 and £250 each calendar month the Account is open (your ‘Standing Order’), the first being within 30 days of you opening the Account.
2. DEPOSITS AND WITHDRAWALS
   2.1 You can only pay money into the Account by your Standing Order. If the standing order is less than £25 or more than £250 we will return it to the account it was paid from. If you miss a payment it cannot be made up.
   2.2 Your Standing Order cannot be set up from another savings account with us.
   

So there has to be a Lloyds current account but can't see any requirement for the SO to come from it. It can't be from another Lloyds savings account. If they say otherwise perhaps ask where the requirement is mentioned in their conditions.

paulw98

dazeruk wrote: »

After logging in, select the account the standing order is coming from.

Select the 'Direct Debits and Standing Orders' tab.

Scroll down to the list standing orders.

Select amend.

Enter the new date.

Select amend.

Enter password.

Cheers, total blonde moment. I was trying to ammend it from the saver account instead of the account the payment is coming from. Many thanks.

Biggles

Funkyfreddy wrote: »

Based on my sample of one customer service person on the Llloyds Saving team they did say that the Standing Order has to come from your Lloyds current account.

No, the T&Cs have never said so, not with the previous Monthly Saver, nor with this issue.

I have my letter from LTSB confirming the opening of my account, and it says:-
"If you asked us to set up a monthly standing order, this will be completed for you. If you are setting up a standing order with another bank, please use the above account details and make sure the first standing order is due to reach your new account within the next 30 days."

cos69

Great find - went into the local branch yesterday and opened 2 of these, one for me and one for wife. Took about 15 minutes to do each including setting up standing orders from LTSB joint account. Already visible online will amend SO to first of month after payments taken on Monday

luci

When I opened mine by phone I was told the SO had to come from a LTSB account.

slush

The OH and I grabbed one each today by calling in to our local branch. Twas all done in no time at all and the first payment is already showing as going out tomorrow.

Thanks for this great lead. Let's hope some other banks follow suit.
:j

adindas

Dear Luci
This is typical from Telephone Banking Customer Services. As the one on the phone might be new to the bussiness or new to this Monthly Saving. Try to call another time and the one who pichk up the phone might give a different answer.

But from post no #84 it is already confirm in writing by Llloyds TSB

I have experience in a lot of occasions that the one on the customer service on the phone say the contradictory thing. Not very often with LLoyds TSB though.

ADINDAS

luci wrote: »

When I opened mine by phone I was told the SO had to come from a LTSB account.

MiserlyMartin

I cannot believe the red tape about opening this account. They credit search you, ID check you, money laundering checks what a load of hassle

---

for existing customers!!!!

It would be a lot less hassle if you could just open the account online but I suppose the real reason for all this hassle is so they can update their marketing info and try to sell you credit cards. I got that ...!

Funkyfreddy

MiserlyMartin wrote: »

I cannot believe the red tape about opening this account. They credit search you, ID check you, money laundering checks what a load of hassle

---

for existing customers!!!!

It would be a lot less hassle if you could just open the account online but I suppose the real reason for all this hassle is so they can update their marketing info and try to sell you credit cards. I got that ...!

I had no sell attached to my phone application although I had given the lady I spoke to a reasonable ear bending with regard the information requested when it was a savings account application rather than one requiring a full credit check.

Working from a scrip though they have little option to to go through the motions put in front of them I guess.

FF

Funkyfreddy

Baldur wrote: »

I opened a Monthly Saver yesterday in-branch.

The manager asked whether I wished the Standing Order to be made from one of my LTSB current accounts or one of my external current accounts.

As it happened, it was more convenient for me to make the SO from one of my Vantage accounts but the option was certainly given to make the SO from a non-LTSB account.

Mmmm...I spoke to a couple of people on the phone before opening mine and all said it had to come from a Lloyds Current account and that is how they had been "briefed".

One did go and speak to a senior colleage who apparanty suggested she said was aware of others asking similar questions and that those responsible for the T&C's had been informed and to expect a change to the effect it must come from a Lloyds Current account. Meanwhile if the T&C you receive with your account details in the mail don't specify that you would get 5% regardless of where SO originated.

Fact or Fiction...??

Just one additonal query if I may - I know internal standing orders between LLoyds current accounts are instant - or at least same day but does the same apply for internal standing orders from a LLoyds current account to a savings account ?

MTIA
FF