Lloyds Classic Vantage stopping 4%

Masomnia

Well, that's annoying.

I hope they're ready for the outflow of funds that's inevitably coming.

I use it as my main bank account now so not really an issue as I'll just put more in savings instead. Won't be using a full year's ISA allowance any time soon!

KTF

Bother... Had to happen at some point I guess as the rate has been above the instant access savings accounts for ages...

Will have to pop into a branch and close my 5 once I have emptied them in June...

PParka

Oh no.......I thought it was too good to last.

There will be £42k being withdrawn out of my accounts then.
It will go back into the offset mortgage account for now.

apt

Fortunately I put half my Vantage money into the 5% Close Brothers offer. However, I'm not going to take all my money out of the Vantage account as 3% on instant access plus current account facilities is still as good or better than anyone else apart from the dreaded Santander.

simax

Maybe they've wised up to people using them as savings accounts rather than a current account (which is what it is). Maybe they should have left the rates the same but limited people to 1 Vantage account.

Once again the small minority spoil it for the rest.

Dosen't bother me as I don't have Vantage on my Silver account as I use seperate savings accounts and an ISA.

black_taxi_2

april 1st is appropiate date

de1amo

whats the position if you have an active current account with loyds(along with the vantages)---how do you play the system?

MME_2

Sorry there was no date for the letter, just that it's in April. There will be 3 variants to the letter depending on how you used your vantage account(s). For example someone who typically only used the bottom interest tier will get a different letter than someone who maxed it each month.

Frogletina

I've got one regular saver paying 4% which I'd reduced to the minimum £25 (no longer available) will be upping that to the max £1000 from next payment, then putting maximum into an ISA when I decide which one.

Hopefully this will then leave me with 2 accounts with £5000 in, hopefully this will minimise the damage caused by rate reduction. I was hoping to put more into my main one soon so all had the £7000 in, oh well, great while it lasted. Will keep 2 accounts and shuffle money between them as I don't have enough coming in each month to pay either one the £1000, so hope they don't change that.

[Deleted User]

sad news to hear :(