Where is everyone moving their Lloyds Vantage money to?

KTF

The Incentive saver isnt that great as you can get instant access accounts offering similar rates already. No need to get worked up about why you got offered one or not (I didnt) or spending time trying to work out why.

10_66

noh wrote: »

...Maybe it is because I opted for no marketing?

Do others recall what they set their mail marketing preference to?

I too opted for no marketing, and haven't been offered it. Not sure that this would be the reason though.

10_66

KTF wrote: »

... No need to get worked up about why you got offered one or not (I didnt) or spending time trying to work out why.

I agree that the account's not worth getting worked up about, I just think it's interesting to see how they selected customers, and still find it hard to understand why they use a haphazard drawing of straws selection.

Baldur

10_66 wrote: »

I too opted for no marketing, and haven't been offered it. Not sure that this would be the reason though.

I always opt for no marketing on any product that I open, including my 3 Vantage accounts, and have received the offer.

kar999

I read in last weeks FT that the EU regulator has ordered LLOYDS to dispose of 600 branches 19% of its UK mortgages. And 5 million current accounts.

opinions4u

10_66 wrote: »

I agree that the account's not worth getting worked up about, I just think it's interesting to see how they selected customers, and still find it hard to understand why they use a haphazard drawing of straws selection.

I suspect the selection methods will have been drawn up from the point of view of the Savings part of Lloyds TSB. While they will want to get the balances at risk, they would be unlikely to want to do so if it means a loss making batch of business. Keeping rate tarts is rarely good business for a savings operation.

I would expect the criteria to be extremely logical from the point of view of attracting balances from Vantage that have the potential to be profitable in the longer term.

I would also expect them to have ignored any Vantage customers who they consider to be rate tarts.

How they achieve these definitions may not be perfect, and I'm damned if I can work out how they've done it from the information in these threads.

But it certainly won't have been "haphazard". Anything but.

portlandboy

I went into my local Lloyds branch to ask specifically whether I could open an Incentive Saver account with the £2000 that will not be getting interest. The assistant looked through the system and told me that it was "an old account and no longer one that could be offered". She said that she was "unaware" of anyone opening or asking to open such accounts at present, but to wait and see what happens!

anamenottaken

portlandboy wrote: »

I went into my local Lloyds branch to ask specifically whether I could open an Incentive Saver account with the £2000 that will not be getting interest. The assistant looked through the system and told me that it was "an old account and no longer one that could be offered". She said that she was "unaware" of anyone opening or asking to open such accounts at present, but to wait and see what happens!

The Incentive Saver isn't being offered via branches nor online. It is a case of phoning with the reference number provided.

Though it's good if branch staff know what is being offered by other means, there is no reason why branch staff should know about this NEW product which cannot be opened in branch (unless you phone up from the branch yourself!).

Baldur

portlandboy wrote: »

I went into my local Lloyds branch to ask specifically whether I could open an Incentive Saver account with the £2000 that will not be getting interest. The assistant looked through the system and told me that it was "an old account and no longer one that could be offered". She said that she was "unaware" of anyone opening or asking to open such accounts at present, but to wait and see what happens!

She was referring to this account, which is closed to new customers.

The Incentive Saver being offered to some Vantage customers is a limited availability one that has been created exclusively for the purpose (available by invitation and only between 26/4/2011 & 31/7/2011).

kar999

kar999 wrote: »

I read in last weeks FT that the EU regulator has ordered LLOYDS to dispose of 600 branches 19% of its UK mortgages. And 5 million current accounts.

http://www.independent.co.uk/news/business/news/lloyds-may-add-scottish-widows-to-asset-sale-list-2274795.html