Lloyds Classic Vantage stopping 4%

10_66

anamenottaken wrote: »

...I think it is a case of using the same name but not offering the same product...

It looks like they're taking a leaf out of Halifax's book who use the name Web Saver for everything they offer .

opinions4u

10_66 wrote: »

It looks like they're taking a leaf out of Halifax's book who use the name Web Saver for everything they offer .

Surely you mean 'Reward' ?

ffacoffipawb

opinions4u wrote: »

Surely you mean 'Reward' ?

Yes he does. And don't call him Shirley.

kar999

Mrs Kar witnessed quite a scene in our local branch. One very irate customer was threatening to take all his money elsewhere because of the changes to his vantage accounts. The manager attempted to calm him down and took him into his office with offers of something to appease him.... Incentive saver account perhaps.

Mrs Kar is always given the sales pitch by the cashiers so I wonder if I'll get the same treatment when I inform the manager our surplus £12k will be leaving Lloyds at the end of June.

Needless to say we haven't had an invite to the Incentive saver club... or the Royal Wedding!

Davatar

I sent a letter of complaint to Lloyds concerning the change in interest rates and the £60 a year they were taking off me. The complaints departement telephoned me back and did say they were sorry that I was unhappy with the change in rates and the fact that I would be moving my money but unfortunately the only thing they could do was forward the letter of complaint to the department that made this decision.

Only a little pressure on the bank but it does go onto their yearly complaints count.

KTF

What else did you expect them to do? They can change the rate whenever they want...

anamenottaken

Davatar wrote: »

I sent a letter of complaint to Lloyds concerning the change in interest rates and the £60 a year they were taking off me. The complaints departement telephoned me back and did say they were sorry that I was unhappy with the change in rates and the fact that I would be moving my money but unfortunately the only thing they could do was forward the letter of complaint to the department that made this decision.

Only a little pressure on the bank but it does go onto their yearly complaints count.

Do you believe that?

Are you going to leave the extra £2000 per account sitting there or are you going to be moving it somewhere else and earn interest there?

They aren't taking the money off you, they are simply not paying you as much. And you know that.

adindas

Lol funny, different strategy of marketing perhaps that have not been tried before.....

ADINDAS

trisha wrote: »

We are with Nationwide e savings just checked the interest:

• competitive interest rate of 0.45% gross p.a./AER*
  

Who can compete with that I wonder ;-)
I had looked at the MY Save A/C not sure about it, it means tying it up, thank's for the info though :-)

Trisha

anna42hmr

opinions4u wrote: »

Perhaps you should have sent them a thank you card for all the additional interest they've been paying you compared to every other current account on the planet.

Lol

completely agree, its ridiculous that people are clogging up the complaints system by complaints about the vantage interest change or not been offered an alternative.

doing this cloggs up genuine/valid complaints (ie about mis sales, wrong interest applied, missing payments, customer service at branch, etc etc) and will just cause a delay in all complaints being dealt with due to volume increases

at the end of the day:

1. they can change the rates on their current accounts if they wish
2. they have no obligation to anyone to offer alternate products to anyone
3. if people dont like it then they can vote with their feet
4. how many other banks provide the rates they have for how long they have for current accounts!
5.. The rates were what they have been since 2009 so to be honest i am surprised it did not change earlier
6. At least they gave everyone a couple months notice of the change so people can decide what to do with the excess funds!

Baldur

One wonders if there were similar posts when LTSB cut the top tier (£5,000-£7,000) Vantage rate from 5% to 4% in February 2009.