New Lloyds Vantage current account

G_M

wiltslass wrote: »

Hi I currently have a 4% vantage account to which I transfer £1000 a month by faster payment from another provider and move it back out again to keep the balance at £6000.The bonus expires shortly on the other providers account and I would like to close it and open two more vantage accounts to get the 3% interest on 2 x £5000 as well. My questions are:

a)are people transferring £1000 pm from other LTSB accounts Yes to their 4% accounts to fulfil the requirement for £1000 pmonth in? or does it have to be from other providers NO

b) Has anybody experienced any problems in fulfulling the £1000 requirement if they do a round robin excercise between their vantage accounts. NO

Standing order moving £1000 :

* from Vantage 1 to Vantage 2
* from Vantage 2 to Vantage 3
* from Vantage 3 to Vantage 4
* from Vantage 4 to Vantage 5
* from Vantage 5 to Vantage 6
* from Vantage 6 to Vantage 1

wiltslass

Thanks. Just what I wanted to be told.

badger09

As others have said - no problem switching £1k internally.

Also, you can open 3 similar accounts with BOS (Classic with Vantage) and have a home for another 3 x £5k, should you need this

Gromitt

badger09 wrote: »

Also, you can open 3 similar accounts with BOS (Classic with Vantage) and have a home for another 3 x £5k, should you need this

The easiest way to open BoS accounts is over the phone, but there is some snobs in the call center. If you get one, hang up and try again You can only open one account in each 24 hour period, so it takes a few days.

and of course, Transfers between TSB, BoS and Halifax are instant. Bonus is that BoS accounts appear on Halifax Internet banking.

blizeH

Silly question, but is the limit per Vantage £4999.99 or £5,000? Clearly I have OCD.

Also, if you go above that amount, I suppose you just don't get interest on that, as opposed to the full amount? Waiting for my Santander 123 account to open and have no where else to put the money right now

10_66

blizeH wrote: »

...but is the limit per Vantage £4999.99 or £5,000? Clearly I have OCD.

Also, if you go above that amount, I suppose you just don't get interest on that, as opposed to the full amount?

Limit is £5,000
No interest earned on just the excess amount.

Alex92_2

What does everyone plan on doing with their vantage accounts come October, when the deal shuts. Chucking it all in Santander 123 and a bit more to make up £22K limit? or BoS ?

Gromitt

In October the rate changes from 4% to 3%, so unless the economy improves it might still be a decent place to stash some cash.

YorkshireBoy

Alex92 wrote: »

What does everyone plan on doing with their vantage accounts come October, when the deal shuts. Chucking it all in Santander 123 and a bit more to make up £22K limit? or BoS ?

I already have 3 x BoS, but if LTSB is still 3% AER on £3-5K (and I don't for one minute think it will be) then £15K of the £18K will stay with them.

boobbby

Alex92 wrote: »

What does everyone plan on doing with their vantage accounts come October, when the deal shuts. Chucking it all in Santander 123 and a bit more to make up £22K limit? or BoS ?

Are you sure it finishes in October as I thought that was just the 4% Vantage account. The 3% Vantage account as far as I know does not have an end date