New Lloyds Vantage current account

headcone

Well guess what.

An early morning phone call from a very apologetic and may i say a somewhat embarressed Bank manager.

Seemingly he was not fully aware of the T&C but on investigation with a view to open another six accounts found it couldn`t be done.

C`est la Vie,I will look at Vantage with B o S and the Santander 123 onwards in my quest.

Sorry if I unintentially got some peoples hopes up,but just one of those things I suppose

innovate

uuh well, it sounded good for a bit. Thanks for the update

Wammer

After thinking I didn't have any DD to move to qualify for the 4% I opened a Tesco Online Saver and moved a mobile phone contract.

I will be cancelling the phone contract at the end of its term in the middle of March.

Will I need to set up another DD to replace it or is the fact that a DD has been set up enough, even though it won't be used after March?

badger09

Wammer wrote: »

After thinking I didn't have any DD to move to qualify for the 4% I opened a Tesco Online Saver and moved a mobile phone contract.

I will be cancelling the phone contract at the end of its term in the middle of March.

Will I need to set up another DD to replace it or is the fact that a DD has been set up enough, even though it won't be used after March?

If the mobile phone DD will remain in place, though not active, you might be ok. BUT there are posts on page 59 of this thread suggesting people were contacted by LTSB when their DDs were cancelled.

To be honest, I wouldn't risk it. Just set up another DD. There is another thread somewhere set up by innovate detailing savings accounts which you can use to set up DDs -or set up a PayPal account - simples

badger09

10_66 wrote: »

I'm a bit confused (takes nothing to do that these days!), about the 4% eligibility. Their website says:

Vantage terms and conditions – for customers with the limited up to 4% AER offer from 10 September 2012 – 31 October 2013

Vantage 4% Interest Rate – Eligibility Requirements
You can participate in the 4% interest rate until 31 October 2013 if you

• apply for Vantage or you apply to add this rate to your existing Vantage account; and
• have at least two direct debits set up on your account by 31st October 2012

On the header is says 31 Oct 2013 but lower down it says have at least two dd's set up by 31 Oct 2012. I already have a Vantage account and want to open another 2, but do I qualify for their 4% now or not?

If you have 1 account with Vantage, you could have applied for the 4% offer but you had to have 2 DDs set up before 31/10/12. If you didn't apply, or didn't have the 2DDs set up, you would not qualify for 4% but would still get 3% up to £5k, as long as you met the other conditions.

If you have 1 account with Vantage, you can open another 2 - max 3, but will only qualify for 3% up to £5k now.

Any clearer?

Vortigern

10_66 wrote: »

I'm a bit confused (takes nothing to do that these days!), about the 4% eligibility. Their website says:

Vantage terms and conditions – for customers with the limited up to 4% AER offer from 10 September 2012 – 31 October 2013

Vantage 4% Interest Rate – Eligibility Requirements
You can participate in the 4% interest rate until 31 October 2013 if you

• apply for Vantage or you apply to add this rate to your existing Vantage account; and
• have at least two direct debits set up on your account by 31st October 2012

On the header is says 31 Oct 2013 but lower down it says have at least two dd's set up by 31 Oct 2012. I already have a Vantage account and want to open another 2, but do I qualify for their 4% now or not?

31 October 2012 was the last date to qualify your account to earn 4%
31 October 2013 is when the 4% interest finishes.

So you won't qualify for 4% on your proposed new accounts, and if you're not already getting 4% on the existing account, it's too late to apply. Sorry.

badger09

Now I'm confused. 1066's post has disappeared.

I seem to have answered a question that wasn't asked -except that I cunningly used 'quote' so I know I'm not mad after all

I see Vortigern replied aswell - so I'm not the only one!

Vortigern

badger09 wrote: »

Now I'm confused. 1066's post has disappeared.

Looks like 1066 answered his own question before we did

10_66

badger09 wrote: »

Now I'm confused. 1066's post has disappeared.

I seem to have answered a question that wasn't asked -except that I cunningly used 'quote' so I know I'm not mad after all

I see Vortigern replied aswell - so I'm not the only one!

Vortigern wrote: »

Looks like 1066 answered his own question before we did

Thanks guys. Yes, I found out the answer and hoped I'd deleted my post before anyone took the trouble to reply. Sorry.

Wammer

badger09 wrote: »

If the mobile phone DD will remain in place, though not active, you might be ok. BUT there are posts on page 59 of this thread suggesting people were contacted by LTSB when their DDs were cancelled.

To be honest, I wouldn't risk it. Just set up another DD. There is another thread somewhere set up by innovate detailing savings accounts which you can use to set up DDs -or set up a PayPal account - simples

Thanks for the reply. I will dig out Innovate's thread and have another look as I thought I was sorted.

I already have a Paypal account, but don't know how to set up a DD on it so will have to look into that.