Got a Lloyds TSB account? Get money for nothing

jammiev

couple of important things to think about here:rolleyes:
1. if you do register can you go back to the old way if you don't like it (or after march!)

2. if you do the pay pal option to get the £50 per month and the card u use is the save the change debit card (switch) are you covered against fraud? because at the moment i only have my credit card on my pay pal account!

3. if you do do the pay pal option can someone explain how you would do it and how long it will take?

4. for the fuel option would you fill up £5.01 then go and pay, then come back to the car and put another £5.01 again and so on? suppose it would be better with 2 people, one in the garage and one on the pump!

:beer:

this thread is goin to be funny. someone here will come up with a way!:beer:

muddyfox470

Basically all I see this as is that:

Taken normally every purchase you make (from when the scheme starts) it will be rounded up to the nearest pound - i.e. £0.66 on bread will be debited from your debit card/account and 34p (1-0.66) will be paid into your savings account automatically.

Only during the months of February and March will they match the money that is transferred into your savings account minus the tax that is applicable to you, up to a maximum of £50 per month. i.e. in the first two months if you had the same above purchase 34p + (34p - tax) will be paid into your account.

After the 2 month trial period the scheme will continue, unrewarded, and you will just be transferring the small amounts of cash into your savings account.

All this is is a scheme to help you save, and promote the use of their debit card for small purchases (of which they earn money from retailers), and so you see how much you can 'save' in your savings account. This is just a marketing ploy to make you use your plastic as apposed to petty cash, which makes them quids in eventually. (especially when people have been shown to spend more on their debit card than if they were using cash)
I must admit that this is a clever scheme, not only to help people save but also as a marketing gimmic too.

But its nice of them to give you 'free' money for a bit

Ian

krazykidskate

I can't see the Paypal thing working because ebayers selling things at 1p don't usually want payment because they get charged about 20p per transaction plus a % on top so they would lose out wouldn't they?

Premier_2

jammiev wrote:

couple of important things to think about here:rolleyes:
1. if you do register can you go back to the old way if you don't like it (or after march!)

2. if you do the pay pal option to get the £50 per month and the card u use is the save the change debit card (switch) are you covered against fraud? because at the moment i only have my credit card on my pay pal account!

3. if you do do the pay pal option can someone explain how you would do it and how long it will take?

4. for the fuel option would you fill up £5.01 then go and pay, then come back to the car and put another £5.01 again and so on? suppose it would be better with 2 people, one in the garage and one on the pump!

:beer:

this thread is goin to be funny. someone here will come up with a way!:beer:

1. Yes, from the terms & conditions

9. You can cancel your participation in the Save the Change scheme or change the Lloyds TSB savings account into which your “change” is transferred by calling 0845 3000000 at any time. Your call may be recorded or monitored.

2. Not sure, you'll need to check but I think LloydsTSB card holders are covered against internet fraud unless you are reckless. As I say, this needs to be double checked with your user agreement

3. This is what confuses me. The only way is to have a paypal account yourself with no funds in it. You need to fund that paypal account with your debit card so that whenever you purchase something, an instant transfer of funds is made from that debit card. Finally you need to find someone that is selling items for 1p and free p+p. The problem is that I believe paypal accounts are charged 20p to receive funds (Personal Accounts aren't but then they are restricted to 2 debit/credit card funded payment receipts per month) I don't really see ebayers willing to be 19p out of pocket to sell you their items. Perhaps they don't actually accept any payments/bids but send you the item foc?

4. Yes, I think minimum delivery is 2 litres at a petrol pump. One issue you may get is one I discovered at Tesco. Bought £30 worth of fuel at their pay at pump system - went back later that day and credit card was refused for another transaction that day. But maybe that was because I had already used 50% of available daily credit limit that Tesco allow at their pumps. I have purchased say £4 worth and £20 worth at same visit, but then that was different fuels.
I'm sure you could buy from 2 different retailers without a problem though

sb44

Well I live 1½ miles away from a Tesco Extra store so I shall pop in every day and get bits of my weekly shop in dribs and drabs.

Shall just go in twice and get a handful of items each time.

Will have to make a definate list or I will be buying more than I need which will defeat the object.

Best I take a calculator with me too as I am bound to forget the total cost and if I round it down instead of up by a penny I shall be mad annoyed with myself!

Shawz

This thread may be of interest

http://forums.moneysavingexpert.com/showthread.html?t=318523&highlight=lloyds

jammiev

if i do make 51x £0.01 purchases i would like to do it online, so does anyone know where i can make them, ie a site selling stuff for 1p with free p+p?

:beer:

i could go to asda and make 51 separate purchases at the till (say 51 brussel sprouts?) lol

aqueoushumour01

would it not be sufficient to fund the paypal account with £0.01 50 or so times. The debit card is being used each time in that case (as long as you don't allow bank funding) and so surely lloyds would transfer 99p to your savings account each time.

If not, there are lots of ebooks available for 1p. Often these contain affiliate links so the hope is that although they make a loss on the ebook, they will earn money from the affiliate links contained within the ebook.

alchemista

aqueoushumour01 wrote:

would it not be sufficient to fund the paypal account with £0.01 50 or so times. The debit card is being used each time in that case (as long as you don't allow bank funding) and so surely lloyds would transfer 99p to your savings account each time.

If not, there are lots of ebooks available for 1p. Often these contain affiliate links so the hope is that although they make a loss on the ebook, they will earn money from the affiliate links contained within the ebook.

Please post a link, or are you saying the ebooks are on ebay?

aqueoushumour01

the ebooks are on ebay. Here's a link for listings with 'ebook' in the title for 1p

http://search.ebay.co.uk/search/search.dll?sofocus=bs&sbrftog=1&catref=C6&from=R10&satitle=ebook&sacat=-1%26catref%3DC6&sargn=-1%26saslc%3D3&sadis=200&fpos=ME3+9SH&ga10244=10425&ftrt=1&ftrv=1&price=1&saprclo=0.01&saprchi=0.01&fsop=1%26fsoo%3D1&coaction=compare&copagenum=1&coentrypage=search&fgtp=