LloydsTSB SavetheChange

Red_dog_Sam

This is a new Lloydstsb scheme starting in February to encourage savings. If you have an LTSB visa debit card, then each time you use it, the payment will be rounded up to the nearest pound and the difference paid into an LTSB savings account (doesn't have to be your own, you could pay into a non-taxpayers savings account)
Example of how it works : spend £19.49 on your debit card and your current account will be debited for £20.00 and £0.51 will go into savings.

Here's the best bit. For February and March, LTSB will match what you save up to £50 each month (paid out 01/04/07 and 01/05/07 as long as you're still in the schem then) . So a potential gain of £100 to be had for free!

Consider a bill that you have to pay anyway and that can be paid easily online by visa debit card. Council Tax would fit the bill for many people. Pay in transactions of £1.01 and each time get £0.99 paid to savings matched by LTSB. With an instant savings account you could even transfer it back to current the next day! In the case of Council Tax, the credits would just reduce the amount you pay on your regular instalment.

I realise some might think it's too much bother but as long as you remember you're getting PAID for each transaction you make, it shouldn't be a hardship. You can always leave the scheme in May after collecting your payouts!

Madiba_2

Yes, this have been covered already on the forum.

Red_dog_Sam

sorry - missed the earlier thread - but at least it's a new idea for generating those £0.01 transactions.