LTSB Incentive Saver

whu

anamenottaken wrote: »

It's not on the LTSB website. It is an offer made to some people who hold LTSB current accounts where they will no longer be receiving interest on a couple of thousand pounds (amount between £5K and £7K) and a lower rate than they are used to on the rest.

You need a letter from LTSB and individual code it contains in order to apply. If you don't have the letter, the account isn't available.

I opened it today on the phone without having received a letter and was told interest is paid monthly

tillycat123

Before I call to get this can I just ask how people got on who perhaps have 4 Vantage accounts? Don't want to be suddenly under the radar for calling in or being told sorry we will have to downgrade them as you have too many.

Thanks

johnmoney05

tillycat123 wrote: »

Before I call to get this can I just ask how people got on who perhaps have 4 Vantage accounts? Don't want to be suddenly under the radar for calling in or being told sorry we will have to downgrade them as you have too many.

Thanks

They will not ask anything like this.

For me, I didn't receive the letter, I just called and asked them directly "Hi, I believe that I am entitled to open that 3% Incentive saver account, could I open one now on the phone, please?" That was it.

ChiefGrasscutter

johnmoney05 wrote: »

They will not ask anything like this.

For me, I didn't receive the letter, I just called and asked them directly "Hi, I believe that I am entitled to open that 3% Incentive saver account, could I open one now on the phone, please?" That was it.

Yup, That was exactly how it was for me as well.
The call centre then transferred me to a savings section.

tillycat123

All done thanks.

dazeruk

I currently have one of the 'old' incentive savers which matures on the 23 July 2011.

Has anyone migrated from one of these to the new version?

Do you think the new version will still be available to open when my current one matures?

DocProc

tillycat123

You say:

I currently have one of the 'old' incentive savers which matures on the 23 July 2011.

But do you have any Vantage Accounts, where both the Interest Rate has gone down from 4% to 3% and 'the max amount able to get it' has gone down from £7k max to £5K max?

All of this creating a situation, whereby a 'non advertised account', namely the new Incentive Saver account, has been created to stop punters moving tons of money out of and away from the bank.

dazeruk

DocProc wrote: »

tillycat123

You say:



But do you have any Vantage Accounts, where both the Interest Rate has gone down from 4% to 3% and 'the max amount able to get it' has gone down from £7k max to £5K max?

All of this creating a situation, whereby a 'non advertised account', namely the new Incentive Saver account, has been created to stop punters moving tons of money out of and away from the bank.

Yes, I have three Vantage accounts (each with £5,000) as well as one of the 'old' Incentive Saver accounts (with £5,000).

I need somewhere to move the £5,000 once my Incentive saver matures on the 23/7/2011. Also when my wages go in each month this takes the balance of one of my Vantage accounts to £7,500, so would be useful to have an account to move the excess balance to.

10_66

dazeruk wrote: »

Yes, I have three Vantage accounts (each with £5,000) as well as one of the 'old' Incentive Saver accounts (with £5,000).

I need somewhere to move the £5,000 once my Incentive saver matures on the 23/7/2011. Also when my wages go in each month this takes the balance of one of my Vantage accounts to £7,500, so would be useful to have an account to move the excess balance to.

Ring them on 0800 731 0242, they'll do it for you over the 'phone, but there is a cut off date for the current version of the Incentive Saver sometime in July (can't remember the exact date).

Saints2011

10_66 wrote: »

There's no reference to this in the terms and conditions that were sent after I'd opened this account, so presumably this only relates to previous versions of this account as the current version isn't available online to view its terms and conditions.

These terms related to the OLD incentive saver only.

The NEW incentive saver can have money moved in and out with NO loss of interest.