New Lloyds Vantage current account

badger09

savetilibleed wrote: »

Thanks very much for that! But just to clarify a detail - I can add all three of my Vantage Accounts, making three separate DDs to my PayPal account? Actually I have enough DDs in my first account (the one I use for everyday use) so it'll just be the two that presently have none. Tell a lie, there is now a Tesco Bank one appeared today in one of these!

Yes, you can add all 3 Vantage accounts as separate payments to PayPal (meaning PayPal appears as a DD from each of the Vantage accounts) How 'active' they need to be is still a apparently up for discussion

savetilibleed wrote: »

Do the two small test payments you mention become an debt, in effect, that you owe them and is perhaps paid back when a payment is made through the account?

To be honest, its so long since I set up my main Co-op account, I can't be 100% sure, but I think the minimal (a few pence only) cost is borne by PayPal. Hopefully mine will start appearing tomorrow, so I'll report back.

badger09

savetilibleed wrote: »

When I called to get my first Vantage account transferred, they said I could easily switch some DDs to the other accounts by phoning the companies concerned. OK. I said but not all my DDs are regular monthly ones. Does that matter - sometimes there is no payment made (I was thinking 18185). That was OK I was told. Some are never!

Very much at odds with what I was told by cashier in branch today. She was sure DDs had to be 'active' i.e. have a payment taken, each & every month.

Who knows :mad:

badger09

Steve_xx wrote: »

As Innovate states, the word "active" does not feature in LTSB's terms and conditions. The word "active" has only appeared in this forum.

'Active' is also used by branch staff - not just this forum. My money's on this forum, rather than branch staff though :rotfl:

Steve_xx

badger09 wrote: »

'Active' is also used by branch staff - not just this forum. My money's on this forum, rather than branch staff though :rotfl:

Yes I think you're right in that bank staff are saying this. But it is not stated in the published terms and conditions.

psychic_teabag

Just got off the phone from upgrading my other two accounts. I was told that "active" needn't be monthly - quarterly or annually is fine.

A DD has to be active to some extent to avoid auto-expiry - perhaps that's what we are (indirectly) being advised ..?

manyaonisland

YorkshireBoy wrote: »

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.

exel1966 wrote: »

Just awaiting my 20K from MBNA now though i can move some from a 3.20% account in the meantime.

I have seen this money from MBNA in multiple posts. Can you please explain how this works? Do you get this deal because you have CC with MBNA or you can apply for new CC to get this 'deal' too?

DavidAC

I still have three Vantage accounts that I opened when they had good rates and have had zero balance in them since the rate drop. To get just one account going can I pay in £5000 and then set up two direct debits totalling £1000 from Vantage to my NatWest account and then transfer it straight back from NatWest to the Vantage account? Is there anything else I would need to do to get 4%?

If I set up two low value direct debits first could I then just call Lloyds to set it up?

Existing Vantage customers
If you’ve already got a current account with Vantage - but want to take advantage of this limited Vantage offer - just visit your nearest branch. They’ll sort everything out for you. Or if you already have two Direct Debits on your account, call 0800 015 0162. Open Mon - Fri 8am - 10pm, Sat & Sun 8am - 6pm.

exel1966

All my accounts now funded with £6k and showing 2 DD's in place. It's taken 4 days with a balls up along the way, but now sorted (unless they decide to charge me for their incorrect 2 day upgrade next month).

Now to scrutinise the first interest payment when it comes in during the early hours of the 2nd October just to make doubly sure.

exel1966

manyaonisland wrote: »

I have seen this money from MBNA in multiple posts. Can you please explain how this works? Do you get this deal because you have CC with MBNA or you can apply for new CC to get this 'deal' too?

It's called stoozing. Using funds from a credit card to deposit into an interest bearing account.
We both had cards with good limits sat being unused. This was the perfect opportunity to make money from them.

See http://www.stoozing.com/easy-stoozing-guide.php

manyaonisland

exel1966 wrote: »

It's called stoozing. Using funds from a credit card to deposit into an interest bearing account.
We both had cards with good limits sat being unused. This was the perfect opportunity to make money from them.

See http://www.stoozing.com/easy-stoozing-guide.php

First of all thanks a lot for prompt response.

I too do that. I have Nationwide CC with no interest on purchases for 15 months and i only pay minimum balance and use the remaining amount in savings. What i am not clear is on CASH aspect of it. i thought stoozing is only for the outstanding balances on the purchases made on the CC but i am not very sure about cash advances on the CC. I thought cash advances on the CC is the costly affair and one should stay clear as far as possible. So i would like to learn something from you if you have had the cash advances at low rate (even better 0% but i know that would not be the case) and obviously how to go about it.