Lloyds Vantage

Sarah7

The trend is nevertheless up, though. Santander and ING both now have easy access savings accounts paying 3% to new customers and not limited to small balances only. Even if LloydsTSB account holders don't withdraw their entire balances, they'll surely be losing £2000 from many customers!

Rollinghome

ed123 wrote: »

.................the amount of brochures, cheque books. debit cards etc they sent out with these accounts must have cost a bit, now their changing the rules so people will be leaving them in droves.....

Plus a vast amount of advertising of the 4% rate up to just a few weeks ago. Plus a lot of disgruntled customers who only recently acted on the basis of those adverts and will feel further aggrieved with banks. As with other banks, Lloyds seem to employ too many overpaid suits who aren't very good with numbers.

mr_fishbulb

Sarah7 wrote: »

The trend is nevertheless up, though. Santander and ING both now have easy access savings accounts paying 3% to new customers and not limited to small balances only. Even if LloydsTSB account holders don't withdraw their entire balances, they'll surely be losing £2000 from many customers!

I think the only people who would keep them would be people who actually use them as a current account.

Having to move £1000 through each month is a hassle when you can get the same interest somewhere else without messing about.

Johnny_Doe

let's hope ns&i come up with a competitive alternative soon...

elektra

Rollinghome wrote: »

Plus a vast amount of advertising of the 4% rate up to just a few weeks ago. Plus a lot of disgruntled customers who only recently acted on the basis of those adverts and will feel further aggrieved with banks. As with other banks, Lloyds seem to employ too many overpaid suits who aren't very good with numbers.

they have to find the money from somewhere to pay this bloke (ex Santander)

http://www.dailymail.co.uk/news/article-1371530/Staggering-signing-fee-Lloyds-new-CEO-Antoionia-Horta-Osorio.html

Rollinghome

elektra wrote: »

they have to find the money from somewhere to pay this bloke (ex Santander)

http://www.dailymail.co.uk/news/article-1371530/Staggering-signing-fee-Lloyds-new-CEO-Antoionia-Horta-Osorio.html

Having turned Santander into the most incompetent and distrusted bank on the high street, I'm sure he can achieve the same for Lloyds.

adonis10

Hmm, this is annoying. I've now got to find a home for 38k instead of 22k!

Any ideas? Looks like ING or Santander @ 3% instant access, for the time being. Probs go with ING given the bad publicity Santander get (although I have 3 accounts with them and have had zero problems).

Not sure I like the idea of managing 38k in an online account for security reasons!

adonis10

adonis10 wrote: »

Hmm, this is annoying. I've now got to find a home for 38k instead of 22k!

Any ideas? Looks like ING or Santander @ 3% instant access, for the time being. Probs go with ING given the bad publicity Santander get (although I have 3 accounts with them and have had zero problems).

Not sure I like the idea of managing 38k in an online account for security reasons!

Hmm, dilemma. ING with the Dutch compensation scheme or Satander with their rep for bad service. What do you think?

I guess it's unlikely that ING will go down but given what has happened not sure it's worth it!

Johnny_Doe

AA 1yr fixed savings at 3.4% any good?

AndyJ52

Oh dear! This news about the LloydsTSB Vantage accounts is most unwelcome.
I'm off to do some research on what to replace said account with. However, should anyone know of other banks currently offering a similar 'high' interest rate on current accounts ....... would you care to share?

Many thanks!