New Lloyds Vantage current account

premierfella

loracan1 wrote: »

As far as I'm aware you only get the 4% for the days your account has the 5,000 in it.

Does anyone know if you can apply for this account if you don't yet have 5,000 to put in?

Definitely - the new "offer" 4% tier is just a temporary addition to the existing tiers (with the additional two DD requirement). There is no requirement to ever have £5000 in the account (you, of course, just wouldn't be earning the top interest tier rate).

YorkshireBoy

psychic_teabag wrote: »

Note that DD's expire if unused for 13 months. So if it doesn't pay out at least annually, it might spontaneously vanish.

Interestingly, an MBNA representative told me last night that the 'rules' had (recently?) changed and that the dormancy period was now/is to be extended to 36 months, not 13 months/400 days as has been the case for a good while now.

Any bank workers/industry insiders heard anything about this?

YorkshireBoy

exel1966 wrote: »

What an almighty C O C K up by LLoyds.

Goodwill of £100 coming my way

I wish they'd made the same mistake with mine last night!

iilg

exel1966 wrote: »

What an almighty C O C K up by LLoyds.

Yesterday I requested by phone 3 vantage accounts to be switched over to the new 4% vantage.

You'd think they'd give it a more distinguishing name or code or sumat, if only to make it clear for their own sloppy staff. Tell 'em next time, when in doubt have a quick gander at the MSE forums.

innovate

exel1966 wrote: »

What an almighty C O C K up by LLoyds.

Well done, this must have been one of the easier £100 you made, lol!

Just checked mine - - alas, no such luck for me. They are still showing as Vantage, with absolutely zero indication that they marked them, as promised, for the 4%. Under the 'Benefits' tab, I still see the old max 3% words. May be I have to wait for the DDs to show (they don't yet) before anything about 4% shows.

Steve_xx

loracan1 wrote: »

As far as I'm aware you only get the 4% for the days your account has the 5,000 in it.

Does anyone know if you can apply for this account if you don't yet have 5,000 to put in?

Yes but it says in the terms that you must keep your account in credit during the monthly billing. I was trying to ascertain whether that was for the whole f the month or whether they would pay interest if there was only cash on it for part of the month. At the minute, one of mine has a zero balance so was wondering if I put 6k into it today if it would earn interest.

Steve_xx

innovate wrote: »

Well done, this must have been one of the easier £100 you made, lol!

Just checked mine - - alas, no such luck for me. They are still showing as Vantage, with absolutely zero indication that they marked them, as promised, for the 4%. Under the 'Benefits' tab, I still see the old max 3% words. May be I have to wait for the DDs to show (they don't yet) before anything about 4% shows.

When I spoke to LTSB today the lady told me there'd be no indicators of the change.

Funkyfreddy

innovate wrote: »

....

A DD which makes quarterly, 6-monthly, annual, or totally irregular payments is still a DD......

...yup

I don't see how they could stipulate within T&C that the DD has to be taken/paid monthly anyway as they just don't work that way and there are way too many variables to individual cases depending on what the DD is for.

FF

Steve_xx

Funkyfreddy wrote: »

...yup

I don't see how they could stipulate within T&C that the DD has to be taken/paid monthly anyway as they just don't work that way and there are way too many variables to individual cases depending on what the DD is for.

FF

They do not stipulate in the t&c's that the DD has to be taken/paid monthly or at any other time. All it says is there are are to be 2 DD mandates setup on the account.

exel1966

YorkshireBoy wrote: »

I wish they'd made the same mistake with mine last night!

Originally Posted by innovate Well done, this must have been one of the easier £100 you made, lol!

To be honest chaps it was extremely hard work. One telephone call 1hour 36mins long, 3 different operatives, having to explain to each one in full and initially being told we can't revert it because you have TOO many vantage accounts!

Reg'd as a complaint with a ref, name and locations so if it goes wrong again GRRRRRR !

The final CSA from complaints advised me that there would be know way of the customer telling from looking at their online account what rate was set up, therefore I also asked them to confirm in writing that each nominated account will be paid at the new tied rate of 4%.