New Lloyds Vantage current account

YorkshireBoy

blindman wrote: »

...at one session sitting at my PC, transfer £1k from account 1 ->2 then repeat 2->3 until 5-> 1 ??

Do any of you do this...?

Yes..........

DragonQ

I can't see any restrictions on where the money can come from or how long it has to stay in there. I always transfer £1000 from my Vantage to my Halifax Reward, then back out again within two minutes, and I always get the benefits of both accounts.

Steve_xx

DragonQ wrote: »

I can't see any restrictions on where the money can come from or how long it has to stay in there. I always transfer £1000 from my Vantage to my Halifax Reward, then back out again with two minutes, and I always get the benefits of both accounts.

I do exactly as you do.

boobbby

blindman wrote: »

So with the requirement to deposit £1000 per month into each account.

My wife and I have 5 accounts between us with £6k in each

So reading the T&C's and this thread all I have to do to comply with the T&C's

Is at one session sitting at my PC, transfer £1k from account 1 ->2 then repeat 2->3 until 5-> 1 ??

Do any of you do this or do you leave 1 day between transfers?

The advantage of leaving a day is all the movements can be set up with standing orders so no need to do anything !!

YorkshireBoy

boobbby wrote: »

The advantage of leaving a day is all the movements can be set up with standing orders so no need to do anything !!

Except, in blindman's case, log in to syphon off the £80 a month interest.

So while he's there doing this (on the second working day of the month) he may as well make the transfers manually, rather than risking weekends, Bank Holidays, etc possibly getting in the way?

Richchad

Our Tesco DD's from our 6 LTSB accounts were taken okay on 3rd and returned today, I have managed to set up the DD's to take from LTSB each month but there doesn't seem to be anyway to pay it back from Tesco to LTSB on a monthly basis, just a one off option to pay it.

I am not even sure if I need to actually do this, I guess we will know after a couple of months when some on here have just set up DD, as asked for by LTSB, but not actually using them.

I would have liked to have automated it all rather than manually transferring from our 2 Tesco accounts each month.

Gromitt

Richchad wrote: »

Our Tesco DD's from our 6 LTSB accounts were taken okay on 3rd and returned today, I have managed to set up the DD's to take from LTSB each month but there doesn't seem to be anyway to pay it back from Tesco to LTSB on a monthly basis, just a one off option to pay it

How much are you paying into them? I'm paying £1 from each Vantage into Tesco, and so I'm not going to bother with the hassle of transferring that back each month. I'll wait until the 4% offer expires in 12 months and transfer the funds back then. It'll be like a mini-bonus

Richchad

Gromitt wrote: »

How much are you paying into them? I'm paying £1 from each Vantage into Tesco, and so I'm not going to bother with the hassle of transferring that back each month. I'll wait until the 4% offer expires in 12 months and transfer the funds back then. It'll be like a mini-bonus

Yes, the same as you, just £1 which is £6 per month into our Tesco accounts, hmm suppose I could leave it as it will only be £72 in a year, or maybe transfer in 6 months.

I just like to keep exactly 6k in our 6 LTSB accounts for maximum interest and easy monitoring that it is correct, suppose I could just transfer out the monthly interest less £1 to keep it level

Steve_xx

Richchad wrote: »

Yes, the same as you, just £1 which is £6 per month into our Tesco accounts, hmm suppose I could leave it as it will only be £72 in a year, or maybe transfer in 6 months.

I just like to keep exactly 6k in our 6 LTSB accounts for maximum interest and easy monitoring that it is correct, suppose I could just transfer out the monthly interest less £1 to keep it level

Why don't you change it from £1 to a penny?

Richchad

Steve_xx wrote: »

Why don't you change it from £1 to a penny?

I thought £1 was the minimum amount for a direct debit?