lloyds save the change (merged)

phoebe03cat

Save the change matched by Lloyds starts today: anyone thought of a good way to make those something and a penny purchases other than fuel. There's only so many times you can fill up!

tommyj_2

i was thinking paypal

tom188

look on the current accounts board, there is pages of the stuff there.

YorkshireBoy

phoebe03cat wrote:

Save the change matched by Lloyds starts today:

It says on my calendar that today is the 31st January. Have they brought the promotion forward a day?

phoebe03cat

Doh! No- just getting prepared. Am on holiday and lost all track of the days.

Milarky

Egg savings account would allow you to deposit £1.01 by debit card (no spending required) - and probably up to five times a day without causing security flutters.

The important thing to remember here is to cancel your registration for Save the Change as soon a possible after this promotion ends - otherwise your bank account will keep getting drained with no matching contribution from LTSB (exactly where they want you to be!).. unless it suits you to save this way of course

phoebe03cat

Thanks Milarky. Am looking into the egg savings now. I do have egg money so presumably I could preload the account by the same amount as an alternative?

Milarky

phoebe03cat wrote:

Thanks Milarky. Am looking into the egg savings now. I do have egg money so presumably I could preload the account by the same amount as an alternative?

If you mean by that use your (LTSB) debit card to make a manual payment onto the Egg Money Credit Card then, by jove, yes that ought to work too. (It basically depends on the terms of 'Save the Change': whether they treat 'payments' to a financial product such as CC or savings account the same as 'merchantable' use elsewhere - eg purchases in shops. Halifax's 1% cashback bank account didn't for instance - it was specifically set up to exclude 'bills', 'investments' and the like. I believe that LTSB S-T-C is completely open to all kinds of transaction even though they could identify the type from the merchant's ID, so if it worked on Egg Savings it should work on any '£1.01' off a credit card account too.)

mary

Milarky wrote:

The important thing to remember here is to cancel your registration for Save the Change as soon a possible after this promotion ends - otherwise your bank account will keep getting drained with no matching contribution from LTSB (exactly where they want you to be!).. unless it suits you to save this way of course

To play it safe, I understand it means keeping everything open until the latest May 1st so that the matched change given by Lloyds can be accredited to your savings account. Just do your spending elsewhere though after March 31st so you don't end up out of pocket by accident!

shazkhan111

can some one link to the discussion on the CA board regarding this?

tom188

Having had to trawl all the way back to page 3 of the CA board...
http://forums.moneysavingexpert.com/showthread.html?t=318523