LloydsTSB Save The Change Fun Loophole

Firehorse

someone wrote: »

mmm,

"STC MATCHING NET £40.00"

My main account and regular saver a resisted for gross tax. Just thought my on-line saver would be when I opened it. If I send my R85 in now will they give me the other £10?

Hi,

I was in LTSB yesterday double checking my accounts as I had the same thing happen. Apparently it's not automatic for new accounts, you have to fill in an R85. CS have requested a notice of interest for all my accounts. With this I can then go to the Inland Revenue site, download the appropriate form, and reclaim any tax which has been paid.

Hope this helps.

plzhelpmesave!

LittleVoice wrote: »

BTW you don't have to close the "old" (in your case LTSB) account. You only have to let Halifax take over the SOs and DDs.

thanks for this! i assumed (without bothering to look into it more - doh!!) that you switched over the whole a/c & closed it down. So i should be able to open a halifax a/c and just switch over a couple of dds to get their £100?? is that right? sorry to be a pain, and thanks for any replies to this!

mary

And pay in £1,000 per month

thumshie

plzhelpmesave! wrote: »

...and just switch over a couple of dds to get their £100??

They'll take all DD and SO's from your lloyds account, you can't 'choose' just a couple. But yes, transfer them and you should get £100, keeping both accounts open...

thumshie

mary wrote: »

And pay in £1,000 per month

only if he/she goes for an account requiring this..High interest, money back.. the normal current account doesn't have this funding stipulation....

Whoops my mistake.. missed that one, mary and paul_H are right on that point, but if you having savings you can deposit->remove->deposit for the two months needed.

Paul_Herring

plzhelpmesave! wrote: »

So i should be able to open a halifax a/c and just switch over a couple of dds to get their £100?? is that right? sorry to be a pain, and thanks for any replies to this!

Erm - it's not quite that simple. From their site:

Halifax wrote:

2. You have to use our Switching Team to transfer Direct Debits and standing orders from your existing account elsewhere to your new Halifax current account.

4. You must make payments totalling at least £1,000 every month, into your new Halifax current account.

I presume the use of a "switching team" will involve moving ALL DD's and SO's from your other account. And there's that niggly little matter of £1000 per month, though to give them some credit(!) they haven't specified "salary" as the method of deposit.

ashcarrot

Well thats me all done on the £100 loophole, thanks Egg for all ya 1.01 deposits.

garyparson

I'm done an all, cheers to William Hill and whoever mentioned it in another post!

Some of you will be wanting this number soon, so here it is..

You can cancel your participation in the Save the Change scheme or change the Lloyds TSB savings account into which your “change” is transferred by calling 0845 3 000 000 at any time, or by visiting your local Lloyds TSB Branch

Ricardoro

I note that transactions made on 27/2 and debited on 28/2 were not swept into Save the Change until 1/3, thus missing out on contributing to February's £50 max matching.
In my case this means losing £15.66 and £16.69 on my two accounts.(because I will be maxing out the March transactions separately)
I shall of course be demanding that Lloyds honour their Terms of the promotion that they match the amounts of FEBRUARY PURCHASES up to £50 maximum.....the fact that they transferred the Save the Change sum on 1/3 is irrelevant (though of course in their favour!!)

Other MSE'ers might want to check if this has adversely affected them too.

thumshie

Ricardoro wrote: »

I shall of course be demanding that Lloyds honour their Terms of the promotion that they match the amounts of FEBRUARY PURCHASES up to £50 maximum.

Actually from the T's&C's:

web wrote:

6. Save the Change transfers will appear on current account and savings account statements as “Save the Change” and will show as credited to your savings account the day after the relevant debit card transaction has been deducted.

From the matching section

web wrote:

1. From 1 February (or date of registration if after 1 February) to 31 March 2007 we will match the amount of “change” transferred to your nominated savings account up to a total amount of £50 in February and £50 in March.

Is demanding really the way to go??