New Lloyds Vantage current account

Rollinghome

Sceptic001 wrote: »

I must say I find some of their research somewhat slipshod.

Ah well, if you've found some of their research slipshod then obviously you should never rely on them not to "accidentally", in quotes as you put it, (nudge, nudge) take money they weren't entitled to. Clearly not to be trusted, stands to reason. :think:

psychic_teabag

I had a bit of a suspicion that tesco might just set up one DD per linked account, no matter how many savings accounts were used, based on the way the web interface presented things.

Sceptic001

Rollinghome wrote: »

Ah well, if you've found some of their research slipshod then obviously you should never rely on them not to "accidentally", in quotes as you put it, (nudge, nudge) take money they weren't entitled to. Clearly not to be trusted, stands to reason. :think:

Rollinghome, your stalwart defence of Which! magazine is admirable but completely irrelevant. You would trust Which! not to use a DD mandate incorrectly. Fine. Your call.

I was merely pointing out that any organisation may incorrectly debit an active DD. My initial post was not aimed at Which! so your umbrage was unnecessary. I apologise for letting your outrage tempt me into drifting off-topic.

premierfella

On the Tesco DDs, I tried to do a similar thing a while back to consolidate DDs to meet Citibank requirements on their current account, but with Intelligent Finance savings accounts.

What happened with them was that Citi showed the 2 direct debits (two separate IF pots with the relevant account references), but when the direct debits were claimed, the funds to both IF pots still only used one of the DD instructions - so maybe Tesco savings are doing something similar?

innovate

YorkshireBoy wrote: »

So, they seem to be using the same DD reference for both Tesco accounts, ie

0004xxxxxxxx/yyyyy

where xxxxxxxx is one of my Tesco account numbers.

The yyyyy is different on mine, is that the same for you?

Mind you, I have only got one Tesco, with 3 DDs (one per Vantage). My second DD is with PO or one of the Building Socs. So I'm afraid, I can't answer your Q, I think.

My DDs are just a quid each every month - - I can cope with £72 (6 x £12) earning just some measly interest for a year, lol. Probably could change to annual DD, now that I know that "monthly DD" was a red herring

YorkshireBoy wrote: »

Appreciate I could phone Tesco, but basically I don't want to alert them to what I'm doing, ie (ab)using them!

You reckon Tesco are the only bank not reading MSE?

innovate

Popped into Lloyds (in a quiet Hampshire market town) this afternoon to ask them to confirm that my 4% was all set up properly (which they said it was, and no, customers won't be able to see online whether they are upgraded).

I was amazed to see stacks and stacks of marketing leaflets advertising the 4% Vantage promo. Do we have a bit of a battle over current account customers going on between Lloyds, Nationwide and Santander? That would be delightful, I like to see competitors trying to leapfrog each other!

badger09

Well, I currently have 3 Vantage accounts but as I don't have £18k lying around around at the moment, but will have before 31 October, thought I'd approach this slightly differently. Decided to meet the conditions before asking for the 4% - radical or what

On Monday I added eBay PayPal and unused credit card DDs to account 01. Just waiting for the PayPal 'test payments' to be credited. On Tuesday I added eBay PayPal DDs to Vantage accounts 02 & 03 - waiting for 'test payments'.

In case Lloyds really did insist on an active, monthly DD, and having caught up on here today, I decided to open a Tesco Internet Saver, despite having had horrendous problems with their online banking in the past and severed all links with them.

Account application was fine - smooth even - but then the problems started :eek:. It took me over 2 hours, including several phone calls (must admit I wasn't kept waiting long), website timeouts and incomprehensible error messages, switching between browsers, at least 6 'One time access code' sent by text and several swear words!

I've finally managed to link the 3 Vantage accounts and set up monthly transfers (£1 each). All I need now is for some ill informed Lloyds CSR to tell me I don't qualify :rotfl:

YorkshireBoy

YorkshireBoy wrote: »

Or maybe I should just move some dormant/little used credit card DDs...one to each Vantage account?

Decided to do this, so I'm all set now with 3 dormant/little used credit card DDs (one assigned to each Vantage account) and a £1 per month DD pull from each of my 3 Vantage accounts to my Tesco Internet Saver account.

Just over £5K in each Vantage account (thanks to MBNA ) as of this morning, so can now sit back until the interest is paid in early October.

Where's the next deal?

savetilibleed

Regarding using PayPal DDs as one (or more) of the DDs, the only payment method I have for PayPal is my Debit card for my primary Vantage a/c. Can I set up a DD using one (or more) of the other account numbers for the other Vantage accounts? And I don't quite understand this thing about test payments to verify. Where does the money come from and go to?

Also when entering account name PayPal want the exact way the name appears on the bank account statement. Mine is just e.g. A.B. Surname not Andrew Surname

mhuk01

quick q - can you bounce money between 2 vantage accounts to count towards the £1000 p/m requirement?