Lloyds TSB Save The Change

Ayrshire_2

Hi folks,

Just spotted this on the TV last night and have been reading up on it here. I don't bank with TSB but wondered if it was worth (and still had time to) applying for an account and joining in on save the change.

Anyone else just opened an account for this ?

Good luck to those already on board.

lipidicman

Should you bother? If you had a lloyds online account and an egg money account (as all good MSErs should) then get the saver and catch up. If not it will take too long for this month. You cant really do the spending (without a trick like egg money) in half a month.

Ayrshire_2

lipidicman wrote:

Should you bother? If you had a lloyds online account and an egg money account (as all good MSErs should) then get the saver and catch up. If not it will take too long for this month. You cant really do the spending (without a trick like egg money) in half a month.

Thanks for that.

I have the Egg Money account but bank with the Clydesdale so no TSB account currently. Didn't know if i'd have enough time to get the account opened and get the card through to take advantage of Feb matching. I suppose it'd still be worth it for March.

More thoughts comments are welcome.

Does anyone know how long it takes for the account to be opened and get a card through ?

Thanks

YorkshireBoy

Ayrshire wrote:

Does anyone know how long it takes for the account to be opened and get a card through ?

In my experience, 5 days.

However, you'll then have to register for the STC scheme and get a 'receiving account' open, so it could take 10-12 days overall.

tipsychick

johnmoney05 wrote:

Well, the £250 is just a initial depsoit. You can transfer £249 back to Current account straightaway! And in any event, you better have £250 in your Current account to start your Debit Card payment shopping?!
Can't see any lost you have?

Some people might not have the initial £250.00 required to open the Online Saver and the Guaranteed Tracker is useful then.

I know you can transfer the £249.00 straight back out of the Online Saver once you've opened it but if you do that, your interest rate plummets from 4.65% to 0.10%.

I know you're only going to have the money tied up for a couple of months max while you're doing Save the Change but if you're not going to keep the Online Saver funded with £250.00 plus your Save the Change, then the Guaranteed Tracker is actually better because it will pay you 3.9% on any balance over £1.00, plus of course, you didn't need the £250.00 to get the account going in the first place.

If you are going to keep the Online Saver funded with £250.00 plus your Save the Change, then this is the Online Saver is the better account.

It's all probably hair splitting given the lengths of time involved though!

YorkshireBoy

tipsychick wrote:

...but if you're not going to keep the Online Saver funded with £250.00 plus your Save the Change, then the Guaranteed Tracker is actually better because it will pay you 3.9% on any balance over £1.00

The rate for £1+ is 3.15%

tipsychick

YorkshireBoy wrote:

The rate for £1+ is 3.15%

Well spotted YB!

frod_2

Does anyone think there is a problem with making more than 3 egg payments a day, it seems to be how many most are making.Have got far too many 8p red onions in my cupboard now.

MrChips

Hi guys, I've just jumped on this money-saving/making bandwagon.

I registered for the STC scheme yesterday - can I start spending straight away, or do I need to wait for my application to be "processed"?

YorkshireBoy

MrChips wrote:

Hi guys, I've just jumped on this money-saving/making bandwagon.

I registered for the STC scheme yesterday - can I start spending straight away, or do I need to wait for my application to be "processed"?

See post #203 onwards.