Lloyds 8% Regular Saving ending

exel1966

reehsetin wrote: »

does anyone know if i do a transfer to the monthly saver from the lloyds current account how long it would take to be recieved, instantly because its the same bank or like 4 days like a normal transfer
basically want the money in there on the 1st may when do i make the payment

It will be done (and seen on line) instantly.

smileypigface

My daughter opened Lloyds TSB current and regular saver 8% account the day after her 16th birthday - now being ineligible for the 10% Halifax regular saver she had last year!

Set up SO from current acct to regular saver for £250 a month on 25th of month - she has to withdraw £250 from her high interest Nationwide account each month and put it in her current acct to cover the SO .. easy!

Bank Assistant handed us print off of T&Cs for both accounts with both account numbers at the top and told us to be careful to quote the right number for each account as they are so similar - wrote which account was which next to the numbers so we wouldn't get it wrong!!!

Guess what .... yep, I set up SO from my account to my daughter's current account for her £70 monthly pocket money ..... account numbers had been annotated the wrong way round so the £70 went into the Regular Saver - because it will only accept one credit a month the £250 didn't move from the current acct!

Rang branch and very helpful Lloyds TSB chap accepted the mistake was the fault of the bank (blimey!) and tried to find a way to get the 'missing' £180 into the Regular Saver - can't be done!

However, and I've got it in writing too, he offered to wait until the 2 year duration is up and they will calculate the interest my daughter has missed out on (ie, £180 at 8% for two years) and they will credit her account with that amount! (oh, and he also corrected the SO which we had requested for the 25th of each month and the lady who opened the account had managed to set up on 15th instead!!)

So ... very very unimpressed .. but full marks to Barry in Westbury on Trym for fixing it all - and now much happier!

reehsetin

Biggles wrote: »

Instantly. You put it in the 'Transfers' fields at the top left of the online banking screen and, as soon as you click the button, it's done.

it wont let me put the monthly saver in the transfer too bit in the top left, maybe because ive already transfered into it this month?
(monthly saver does show up in the transfer from bit)
thats why i was confused thought it might be like an isa where even if its the same bank its different so will take a few days to transfer

Compound_2

reehsetin wrote: »

it wont let me put the monthly saver in the transfer too bit in the top left, maybe because ive already transfered into it this month?
(monthly saver does show up in the transfer from bit)
thats why i was confused thought it might be like an isa where even if its the same bank its different so will take a few days to transfer

I don't think you can 'transfer' into this account. It's standing order only.

exel1966

That's correct, transfers not allowed, S/O Only.

reehsetin

exel1966 wrote: »

That's correct, transfers not allowed, S/O Only.

thought it might be, s/o will take a few days right? so its not instant
hmm wonder how the above poster was able to transfer it using the transfers box

exel1966

S/O from a Lloyds Current account to the Lloyds Regular Saver is (in effect) instant. Transfers from outside will not be.

You can transfer OUT using the the Quick transfer facility, but NOT IN.

jinkssick

so what is the best monthly saver at the moment as I got my ISA going, lloyds 2 year 8% but want a next one.

Loughborough one, is it still alive?

Or Leek United 7.5 is best?

exel1966

Loughborough now only open to local residents

YBS at 7% (incl of bonus) probably one of the best available as it permits £500pm and has no term attached to it, though it is capped at £20K.

medic1978

exel1966 wrote: »

That's correct, transfers not allowed, S/O Only.

is it possible to 'transfer' in from another bank via the other banks internet banking?
How does this differ from a standing order as far as LTSB is concerned?

i.e. will they know it was an online transfer (from other bank) rather than standing order from another bank??