Lloyds TSB savings accounts.

pcombo

I was looking at http://www.postcodeanywhere.co.uk/demos/bankvalidator.aspx

And it says direct debts can be setup on my savings account, I know its normaly checked using sort code. Im wondering why my savings accounts are setup with the same sort code as my llloyds current account.

the current account shows a page to manage direct debts etc , but the savings doesn't so how am i suppose to know if a direct debt is ever setup?

anyone got information?

gt94sss2

pcombo wrote: »

Im wondering why my savings accounts are setup with the same sort code as my llloyds current account.

The sort code represents the Lloyds branch that 'owns' your account

the current account shows a page to manage direct debts etc , but the savings doesn't so how am i suppose to know if a direct debt is ever setup?

Because your savings account doesn't support direct debits.

The Postcodeanywhere site checks if the sort code can accept direct debits, not the specific account.

Regards
Sunil

jonesMUFCforever

You can't set up a direct debit or standing order on any LTSB savings account.

Saints2011

Used to be able too.

jonesMUFCforever

Saints2011 wrote: »

Used to be able too.

Not much use now though eh?

pcombo

Im just curious cause my two savings accounts have the same sort code as my card account.

I thought banks used different sort codes so this particular reason. my sort code: 87-37-54

Faster Payments can be sent to this sort code.
Bacs Credit payments can be sent to this sort code.
Bacs Direct Debits can be set up on this sort code.
CHAPS Payments can be sent to this sort code.
Eligible for Cheque & Credit Clearing.

rb10

pcombo wrote: »

Im just curious cause my two savings accounts have the same sort code as my card account.

I thought banks used different sort codes so this particular reason. my sort code: 87-37-54

Faster Payments can be sent to this sort code.
Bacs Credit payments can be sent to this sort code.
Bacs Direct Debits can be set up on this sort code.
CHAPS Payments can be sent to this sort code.
Eligible for Cheque & Credit Clearing.

Each bank has an allocation of sort codes. How they then split them up differs between banks.

So some banks will give a different sort code to each branch, and all accounts opened at that branch have that sort code (e.g. Halifax sort codes are 11- and then four digits corresponding to the branch the account was opened at, with slightly different rules for telephone and online openings, and websavers sitting on their own sort code).

Others will give different types of accounts different sort codes, e.g. at Nationwide all Flexaccounts sit on one of just three different sort codes, regardless of where they were opened. There are then different sort codes for different types of account.

All that you are seeing is that the sort code is activated for those payment services. The bank can then impose any conditions it likes on how you actually are permitted to operate your account.