Lloyds TSB regular saver.

torbrex

There is no need to use the current account, it is only needed to be opened to allow you to use the regular saver. I have opened mine and put £1 in it, I have recieved a card an cheque book but I told them up front that it would not be used. The main thing is to make sure that you register for online banking so that you can check/change your SO as needed.
I have my SO coming straight from my high interest current account at Bank of Scotland bypoassing the TSB current account.

Kazza242

steveh2001 wrote:

Just opened mine today All opened fine - again they said you would need £500 odd to keep it active...

...how is everyone else keeping their current account active?>

I set up my monthly saver SO from my LTSB current account* - even though I hold my main current elsewhere. The monthly deposits keep my account 'active', just in case LTSB think I'm not using their current account enough, I can point them to the £250 coming through it each month.

*The monthly saver SO does not have to come from the LTSB current account.

steveh2001

Thanks for the suggestions guys -
Torbrex - how long have you left just £1 in there?
Kazaa - Lloyds told me that their SO from lloyds current to lloyds saver is instant, so i gues technically you wouldnt loose any days interest? Although im not sure how it would work over weekends etc.

Kazza242

steveh2001 wrote:

Kazza - Lloyds told me that their SO from lloyds current to lloyds saver is instant, so i gues technically you wouldnt loose any days interest? Although im not sure how it would work over weekends etc.

SO payments between the LTSB current account and monthly saver are instant. My SO payments are taken from the current account on the 1st of each month and also arrive in the monthly saver on the 1st. If the 1st falls on a non-working day, then the payments are still transferred into the monthly saver, but the payment is dated the next working day.

torbrex

I have left the £1 in my account from day one and intend to leave it there for the full term of regular saver, account has only been open less than a month but the assistant at my local branch did understand that I did not intend using the current account.
I have heard tales that the account must be serviced regularly but I will wait to see if the branch contacts me for not using the account.

Supernova

Which current account should I use for this?

Presumably the Select rather than Classic Plus as the latter needs £1K per month.

Ta