Lloyds 8% Regular Saving ending

jonesMUFCforever

You can only have ONE Monthly saver.
If you have already started one stick with it but you can't open another until the end of the first 2 year period.

stphnstevey

However, if your other half hasn't opened one yet, they could.

Kazza242

ejones999 wrote: »

You can only have ONE Monthly saver.
If you have already started one stick with it but you can't open another until the end of the first 2 year period.

The T&C's currently on the website refer to not being permitted to open more than one 8% (2 year) monthly saver. However, the one year account will surely be a different account altogether and might even have a different name or be called 'Issue 2' etc. If this is the case, then they may allow existing monthly saver customers to open the new one.

The terms and conditions they provide for the new account should hopefully state whether existing monthly saver customers are excluded or not.

jonesMUFCforever

Kazza242 wrote: »

The T&C's currently on the website refer to not being permitted to open more than one 8% (2 year) monthly saver. However, the one year account will surely be a different account altogether and might even have a different name or be called 'Issue 2' etc. If this is the case, then they may allow existing monthly saver customers to open the new one.

The terms and conditions they provide for the new account should hopefully state whether existing monthly saver customers are excluded or not.

Wrong but if that is your opinion all I can say is try it!

johnydeath

Tried to open one today on the phone (with a classic) - was told although the offer was effectively still available it would take at least a week to get the docs out, signatures back etc so I would have to go for the new single year deal. I tried to reason with the fact that I was applying while it was still open, but no joy.

TheWoot

I just called to register for this product and be able to get the 2 year fixed deal, the woman on the phone said i couldn't because i didn't have a current account. I knew i would have to set one up but she said i would have to use the current account for the direct debit into the savings account. This isn't what Martin said...which i told her but she was adamant, is this true??

torbrex

I have never had more than £1 in my current account and my money goes straight from Bank of Scotland account into the regular saver. The only requirement is that you have the current account, you do not need to use it to fund the saver.

TheWoot

Thank you. Thats what i thought. Too late to get a 2 yr fixed but will go ahead with the 1 yr i think.

LittleVoice

TheWoot:

However, though the account can be funded from an account outside LTSB, it will make your life easier (ie without having to argue) if you agree that they set up the SO from your LTSB current account.

To start earning the 8% ASAP, let the first SO payment go from the LTSB account and, when you have the 8% account details, set up the next and continuing SO payment from wherever you like and just cancel the SO from the LTSB account. This is easy to do when you have registered for online access to your account.

Kazza242

ejones999 wrote: »

Wrong but if that is your opinion all I can say is try it!

Huh! I'm rather taken aback by your response which I think is uncalled for. I'm not trying anything. I'm just saying that we should wait until the new terms and conditions are released tomorrow before assuming what LTSB will or won't permit. I always read the t&c's before doing anything and until they're out none of us can know either way.