New Lloyds Vantage current account

gwyn1_2

If you are transferring the £1000 between the vantage accounts, do they qualify as deposits fro the purpose of the 4% offer or do they count purely as 'internal transfers'?

YorkshireBoy

gwyn1 wrote: »

If you are transferring the £1000 between the vantage accounts, do they qualify as deposits fro the purpose of the 4% offer or do they count purely as 'internal transfers'?

They used to "count" as monthly credits for the old 4% rate when they paid it, and also worked for the 3% rate...both in my personal experience.

However, you raise a valid point. It's one I've thought about as well, and I've decided that I'll cross* fund my 3 Vantage accounts from 3 of my Halifax Reward accounts for the duration of the 4% rate.

It's more a 'deflection' technique, should there be any problems further down the line due to the (somewhat) ambiguous T&Cs for the offer.


* L1->H2, H2->L2, L2->H3...etc

gwyn1_2

YorkshireBoy wrote: »

They used to "count" as monthly credits for the old 4% rate when they paid it, and also worked for the 3% rate...both in my personal experience.

However, you raise a valid point. It's one I've thought about as well, and I've decided that I'll cross fund my 3 Vantage accounts from 3 of my Halifax Reward accounts for the duration of the 4% rate.

It's more a 'deflection' technique, should there be any problems further down the line due to the (somewhat) ambiguous T&Cs for the offer.

I think I will do the same, only have one Halifax account so will transfer each vantage account into it and the send them both back.

psychic_teabag

YorkshireBoy wrote: »

However, you raise a valid point. It's one I've thought about as well, and I've decided that I'll cross* fund my 3 Vantage accounts from 3 of my Halifax Reward accounts for the duration of the 4% rate.

I've been doing that since day 1. Unfortunately, now that the systems are merged, the payments are now showing up on statements as TFR (inter-account transfer) rather than FPI/O. For Halifax to Lloyds, it doesn't even put up the "faster payment in progress" screen, though I think Lloyds to Halifax does.

gwyn1_2

psychic_teabag wrote: »

I've been doing that since day 1. Unfortunately, now that the systems are merged, the payments are now showing up on statements as TFR (inter-account transfer) rather than FPI/O. For Halifax to Lloyds, it doesn't even put up the "faster payment in progress" screen, though I think Lloyds to Halifax does.

So perhaps the plans that many people have, myself included may to work.

YorkshireBoy

psychic_teabag wrote: »

the payments are now showing up on statements as TFR (inter-account transfer) rather than FPI/O.

I'd completely forgot about that! Probably because my Vantage accounts have been empty (bar £1) for a long time.

Still, with 13 current accounts, plus a couple of Tesco accounts offering instant FP, I'm sure I'll find another way.

Steve_xx

YorkshireBoy wrote: »

I'd completely forgot about that! Probably because my Vantage accounts have been empty (bar £1) for a long time.

Still, with 13 current accounts, plus a couple of Tesco accounts offering instant FP, I'm sure I'll find another way.

Like you, I use the LTSB to HBOS and back shunt and have never had a problem. And I only shunt 1k to HBOS then back again to LTSB and then on through the other LTSB accounts ending up back at the first LTSB account.

innovate

psychic_teabag wrote: »

Unfortunately, now that the systems are merged, the payments are now showing up on statements as TFR (inter-account transfer) rather than FPI/O.

Not sure whether you say this might be a potential issue? It never occurred to me this could be a prob, and it hasn't been one for me to date. I have been doing

external -> H1 -> H2 -> V1 -> V2 -> V3 -> external

for ages now (on SOs). Always got my fivers / my Vantage interest ok.

gwyn1_2

Lloyds to Halifax appears to work because I do that now and get the £5 credited. If it does not work the other way I will have to go via an AA and a N&P account. Once set up should not be a problem.

YorkshireBoy

innovate wrote: »

Not sure whether you say this might be a potential issue? It never occurred to me this could be a prob, and it hasn't been one for me to date.

Maybe it's all this talk of 'active' DDs etc, and whether they put the correct marker/number/tariff/token on the accounts that's 'spooked' me. I wouldn't want to have them examine my accounts (if I don't get the 4%) and suggest I might want to bank elsewhere!

I have been doing

external -> H1 -> H2 -> V1 -> V2 -> V3 -> external

for ages now (on SOs). Always got my fivers / my Vantage interest ok.

I started out like that way back, but then got lazy!

When my Vantage accounts were last full, I was doing (by manual transfer each month)...

L1->L2->L3->L1

and

H1->H2->H3->H4->H1 (my salary is paid into H1)

With a £1K transfer back and forth to Santander thrown in (to satisfy the T&Cs of my £10K overdraft stooz with them!).

The things we do for (free) money eh!?