Lloyds Classic Vantage stopping 4%

trisha

Just been to open the three accounts and were told that as from April 1st they are no longer giving the 4% on the Vantage.

Missed the boat again !! :-(

Svenena

Did they say what the new rates would be?

Chadsman

The 4% tier is to be removed according to...
http://www.easier.com/86573-lloyds-tsb-vantage-current-account.html

trisha

As I understood it they are dropping the higher tier as too many people have jumped on the bandwagon, so they are looking after the people who have current accounts with less money and giving them more interest, I think the rates were 1.5% and 3%

Svenena

Hmm, that article says the changes will come into play on 27th June. Do accounts with variable rates have to let you know in advance when they change? According to the article, customers currently benefiting from the 4% rate will "receive information on the range of competitive savings products available to suit their needs", but it seems unlikely they'll offer anything else as competitive (they don't currently). Sigh. I'll have to rethink my savings strategy yet again.

Chorlie

I only opened my 3rd one last week...

Are there any other current A/c's that pay over 3% on £5k?

mr_fishbulb

Well that's a bit rubbish. I've only just got my 2 filled up to 5K each.

It's tough work being a rate tart.

Consumerist

According to info on Chadsman's link :-

Switching to Lloyds TSB couldn't be easier. With a dedicated Welcome Team on hand, customers will see their standing orders and direct debits transferred with ease. Once complete [my emphasis], customers can start earning competitive interest rates on their current account.

Does this signal a change of qualifying conditions? Will you now have to switch in order to get Vantage interest?

tillycat123

Blummin heck, Halifax told me yesterday that I could no longer have my 3 reward accounts either, only 1. This is terrible news with Lloyds.

anna42hmr

Consumerist wrote: »

According to info on Chadsman's link :-
Does this signal a change of qualifying conditions? Will you now have to switch in order to get Vantage interest?

could well be, but if thats the case nothing to stop people just having 1 or 2 active direct debits from each of the vantage accounts they hold, not ideal but may work - ie set a credit card bill to come from that account or something? just as long as people move the money into that account to cover the dd wouldnt eat into savings

jonesMUFCforever

The new Vantage rate will be 3% for balances between £3k and £5k.