Where is everyone moving their Lloyds Vantage money to?

savetilibleed

deutsch wrote: »

Will be transfering probably all into Santander eSaver (issue 3) which is 3% instant access. Who will want the hassle of only £5000 in the 3% vantage and also having to transfer the minimum £1000 still. Obviously with the eSaver it's only temporarily for a year and then onto another search again.

There's no hassle with SOs set up to do the transferring automatically to meet the Vantage conditions. It is really useful to have truely instant access to money if for example I wanted to open a fixed account just before another matures. No instant access saver allows truely instant access, as none pay out by Faster Payment (that I know of anyway).

opinions4u

savetilibleed wrote: »

No instant access saver allows truely instant access, as none pay out by Faster Payment (that I know of anyway).

Tesco, Nat West, RBS at present (and supposedly everybody from 1st Jan 2012 ... we'll see!).

Bet you can't get 3% though!

10_66

Spoke to the savings department at Lloyds TSB today, and the member of staff that I spoke to referred to her manager regarding my query about the 3% Incentive Saver appearing to be offered to only some Vantage account holders, but not others, with no logical reason as to the selection method.

Apparently what has happened is that there has been an error in the letters that have been sent out. Lloyds only meant to send out the letters explaining about the rate changes to the Vantage accounts. It was their intention to send out the letters offering the Incentive Saver account afterwards. However, some of the offer letters have been sent out early. I was assured that all Vantage account holders will receive a letter offering the Incentive Saver, on which will appear a special reference number that will be needed in order to open the Incentive Saver account. Time will tell if I have today been advised correctly.

anna42hmr

10_66 wrote: »

Spoke to the savings department at Lloyds TSB today, and the member of staff that I spoke to referred to her manager regarding my query about the 3% Incentive Saver appearing to be offered to only some Vantage account holders, but not others, with no logical reason as to the selection method.

Apparently what has happened is that there has been an error in the letters that have been sent out. Lloyds only meant to send out the letters explaining about the rate changes to the Vantage accounts. It was their intention to send out the letters offering the Incentive Saver account afterwards. However, some of the offer letters have been sent out early. I was assured that all Vantage account holders will receive a letter offering the Incentive Saver, on which will appear a special reference number that will be needed in order to open the Incentive Saver account. Time will tell if I have today been advised correctly.

to be honest, find that hard to beleive, as the letters state that can apply for the account from 26 april (tomorrow) to 31 july, so if that was the case and sent wrong and another batch of letters should have gone out instead, then why have the application date start from tomorrow as no one would have known about it??

Unless as they started sending letters out beginning of april, the first batch did not have the details on so sending another letter to them, and them? and those of us who have had the letter in last couple of days have had the offer about the account??

10_66

After scouting around on Lloyds TSB website, I found some details about previous Incentive Saver accounts. If the terms are going to be the same as previous ones, I doubt I'll go for it after all, as no interest is paid on the full balance for the month in which a withdrawal is made.

Baldur

10_66 wrote: »

After scouting around on Lloyds TSB website, I found some details about previous Incentive Saver accounts. If the terms are going to be the same as previous ones, I doubt I'll go for it after all, as no interest is paid on the full balance for the month in which a withdrawal is made.

Yes, that's why I'm reserving judgement pending a good read of the Ts & Cs for this particular offering.

D1zzy

Lloyds Esaver pays 2.5% on balances over 10K (unkess they r changing that too)- so as I have 14K to shift I may just park it there -getting lazy in my old age and can't be bothered shifting it around for an extra few points.

Baldur

D1zzy wrote: »

Lloyds Esaver pays 2.5% on balances over 10K (unkess they r changing that too)- so as I have 14K to shift I may just park it there -getting lazy in my old age and can't be bothered shifting it around for an extra few points.

For the sake of making a freephone call and completing an application, the potential extra £70 p.a. interest on £14k compared with the Esaver would shake even me out of my usual state of torpor (assuming, as above, that the Ts & Cs are favourable).

Baldur

I've just opened the Incentive Saver via the freephone number with £1, have been assured verbally that access is instant and completely penalty free (will confirm this with Ts & Cs when received by post).

The minimum/maximum permitted balances for the account are £1/£50,000.

It reverts to an Easy Saver Account after the 12 months fixed rate period (currently offering 1.6%).

someone

Cool, will open mine closer to the date vantage 4% ends.

Does it show up online right away or do you have to wait till things have been processed

Will also be interesting if anyone who doesn't have the letter is able to open the account (Freephone number is 0800 731 0242).

Out of interest of those who got the offer did any of you get a "Good news. You've been guaranteed a Lloyds TSB Classic MasterCard Card" quoting a minimum credit limit?