New Lloyds Vantage current account

Steve_xx

savetilibleed wrote: »

Strange how we are told different things by (presumably) different advisers at LTSB. They would only convert one of my accounts as there are already DDs. The other two are in use but only as a ready/available savings source. Now have one DD set in one of the two others an another is being done.

Yes it's true they do tell different tales to different people. But here is the written text regarding the DD's:

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.

When I set my accounts up for this new rate the lady did say that I can only have it on 3 accounts. I suspect that this isn't actually so as it is not stated in the written terms and conditions However, in the General Terms & Conditions it states that you cannot have more than 3 Vantage accounts. But many people, including me, have in excess of three Vantage accounts.

exel1966

Steve_xx wrote: »

Ok well if you have had a zero balance and they have paid you interest then the conclusion must be that they are not invoking what we think they might mean, ie not paying interest where there has been a zero balance. Or, I am misreading or not understanding their text.

I realise quite frequently these things are ambiguous and slightly misleading, but I don't believe organisations expect the general public to rip T&C's apart and look sometimes far too deeply into them. Our views obviously comes from mistrust of t&C's generally as we all know some companies will be less than scrupulous in such matters.
I personally don't believe Lloyds intend to confuse, but perhaps we need to step back and stop reading too much into things at times (but not all the time).

I'm happy that Lloyds have and will continue to pay as they've done for years without any changes to the T&c's in this respect.

Steve_xx

exel1966 wrote: »

I realise quite frequently these things are ambiguous and slightly misleading, but I don't believe organisations expect the general public to rip T&C's apart and look sometimes far too deeply into them. Our views obviously comes from mistrust of t&C's generally as we all know some companies will be less than scrupulous in such matters.
I personally don't believe Lloyds intend to confuse, but perhaps we need to step back and stop reading too much into things at times (but not all the time).

I'm happy that Lloyds have and will continue to pay as they've done for years without any changes to the T&c's in this respect.

Yes I absolutely agree with you. It astonishes me how ambiguous terms and conditions sometimes appear to be.

gwyn1_2

It has been mentioned on a couple of posts that accounts have been marked with an internal code inrelation to the 4% offer. Any information as to where the code is found. Nothing showing on either of my two accounts and when I questioned Lloyds they said that they were not aware of any way of telling from the accounts if the 4% offer was attached, other than to ask them to check.

Steve_xx

gwyn1 wrote: »

It has been mentioned on a couple of posts that accounts have been marked with an internal code inrelation to the 4% offer. Any information as to where the code is found. Nothing showing on either of my two accounts and when I questioned Lloyds they said that they were not aware of any way of telling from the accounts if the 4% offer was attached, other than to ask them to check.

I think when they say "internal" they mean it to be a visible indicator to LTSB staff. There's certainly nothing on the account that would indicate it to the customer.

exel1966

gwyn1 wrote: »

It has been mentioned on a couple of posts that accounts have been marked with an internal code inrelation to the 4% offer. Any information as to where the code is found. Nothing showing on either of my two accounts and when I questioned Lloyds they said that they were not aware of any way of telling from the accounts if the 4% offer was attached, other than to ask them to check.

You can't find the code yourself. Ask at any branch to bring all your account details up on screen and they'll see the codes as given in post 159.

psychic_teabag

Steve_xx wrote: »

Yes it's true they do tell different tales to different people. But here is the written text regarding the DD's:

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.

OTOH the web page says on how to apply :

Existing Customers

In branch
Visit your nearest branch.

By phone if you have two Direct Debits on your account
Call 0800 015 0162. Open Mon - Fri 8am – 10pm, Sat & Sun 8am – 6pm.

suggesting that if you choose to do it by phone, you must already have your two DD's in place. (Not sure what a branch would do differently.)

Steve_xx

psychic_teabag wrote: »

OTOH the web page says on how to apply :



suggesting that if you choose to do it by phone, you must already have your two DD's in place. (Not sure what a branch would do differently.)

I did it by phone, but there were no DD mandates setup on my account and as I write there still aren't any setup!

gwyn1_2

exel1966 wrote: »

You can't find the code yourself. Ask at any branch to bring all your account details up on screen and they'll see the codes as given in post 159.

Thanks for that, I have asked over the phone and they confirm that I have the 4% just thought I was missing some thing on line.

YorkshireBoy

YorkshireBoy wrote: »

These appeared on my LTSB account on Wednesday (so 2 days later), but each Vantage account only has the one DDI listed.

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 other numbers mean nothing to me, but I'm assuming the yyyyy is some kind of code for an internal re-direct to my other Tesco account?

Further developments!

As of Friday, one of my Vantage accounts now has a 2nd Tesco DD set up...

0006xxxxxxxx/zzzzz

where xxxxxxxx is my other Tesco account number, and zzzzz is a different (meaningless to me) 5 digit number.

Presumably the 0006 relates to Tesco Instant Access Savings and 0004 relates to Tesco Internet Saver (or vice versa)?

The upshot is that I expect, come Monday/Tuesday next week, to have 3 DDs on each Vantage account...2 each for Tesco, plus 1 each for credit card DDs that I set up/transferred when I thought Tesco were only going to do one DD per 2 accounts. Crikey it's starting to look like a 'main account' now!

So, the definitive answer is yes, if you have 2 Tesco accounts there's nothing else you need to do to get a pair of DDs on each Vantage account.