New Lloyds Vantage current account

innovate

vixen1500 wrote: »

can you set up the DD online with these accounts - just wondering if that is why everyone is using Tesco instead of Santander whose interest rate is higher?

Try one or all from the following:

• It's easier/faster to set up DDs from Tesco
• You can set up more than one DD from Tesco
• Interest rates don't matter for the DD accounts (amounts involved are tiny)

WRabbit

Sigh.

The 4% offer prompted me to open a Classic with Vantage account and I did it online earlier this week.

I received my welcome pack today with no pre-paid envelope to return the signature mandate form and also saying that a debit card was on the way to me. I'd specifically said I didn't want a card.

I'm just off the phone after a 10 minute call. The card is definitely on its way and has now been cancelled. And my options were to take the form into branch and get them to phone up the account opening team whilst I was there or wait another 3-5 days for an envelope to be sent. I'm waiting for one to be sent.

Does anyone know if you get to choose your account branch when opening the account online? I don't remember seen an option for this, but on my saved copy of the application I can see that one 16 miles away has been allocated to me. Despite there being one 2miles from me.

Not exactly awe inspiring performance. Thank goodness I didn't switch any DDs and I'm setting that up manually when I get online access.

MoneySaverLog

WRabbit wrote: »

Does anyone know if you get to choose your account branch when opening the account online? I don't remember seen an option for this, but on my saved copy of the application I can see that one 16 miles away has been allocated to me. Despite there being one 2miles from me.

No you'll get allocated a branch, but you can use any lloyds tsb branch as if it was your own anyway. If you open one in branch you're allocated that branch and any new accounts opened online are also allocated to that branch.

sharpharp

Which tesco savings account is everyone using for the DDs? Is it a specific account which is easy to use for the Vantage DDs?

Also, people have mentioned using paypal as one of the DDs, can you use two seperate paypal accounts to count as your DDs for the same Vantage account?

Thanks,

badger09

innovate wrote: »

No, they want a SANTANDER statement (presumably to provide proof that you are the account holder, authorised to ask for a DD).

I handed my form in at Branch, w/o the copy of statement - - they said that was fine. Not seen the DD set up yet, though (only did it 2 days ago)

Far be it from me to question innovate (who is invariably correct ) but why on earth would Santander want a copy of your Santander eSaver account statement?

Their DD form actually asks for a recent copy of a statement for the account you will be debiting; in this case, one of your Lloyds Vantage accounts. They want this to prove that you are the owner of the account from which you want to move money by DD to your Santander account, which does make sense.

Runs for cover

badger09

sharpharp wrote: »

Which tesco savings account is everyone using for the DDs? Is it a specific account which is easy to use for the Vantage DDs?

Also, people have mentioned using paypal as one of the DDs, can you use two seperate paypal accounts to count as your DDs for the same Vantage account?

Thanks,

I think most are using the eSaver - some, like me, have set this up purely as a DD vehicle for the Lloyds Vantage accounts.

I don't know if you can set up more than one PayPal account, but you can certainly link more than one bank account to a single PayPal account.
HTH

ajbell

WRabbit wrote: »

Sigh.

The 4% offer prompted me to open a Classic with Vantage account and I did it online earlier this week.

I received my welcome pack today with no pre-paid envelope to return the signature mandate form and also saying that a debit card was on the way to me. I'd specifically said I didn't want a card.

I'm just off the phone after a 10 minute call. The card is definitely on its way and has now been cancelled. And my options were to take the form into branch and get them to phone up the account opening team whilst I was there or wait another 3-5 days for an envelope to be sent. I'm waiting for one to be sent.

Does anyone know if you get to choose your account branch when opening the account online? I don't remember seen an option for this, but on my saved copy of the application I can see that one 16 miles away has been allocated to me. Despite there being one 2miles from me.

Not exactly awe inspiring performance. Thank goodness I didn't switch any DDs and I'm setting that up manually when I get online access.

Does this apply only to new customers as ive had a vantage current account for years

innovate

Mea culpa, mea maxima culpa, I was wrong. Yes, the Santander DD form indeed says they do want to see statement of account the funds come from. As badger09 says, only logical explanation is that they want proof that you are the account owner and not set up a bogus DD.

I am still expecting them to process my DD request without it - - I have been a customer of theirs for some considerable time and have more than one account with them. Probably will raise a complaint if they insinuate I am trying to set up a bogus DD.......

innovate

badger09 wrote: »

I don't know if you can set up more than one PayPal account

You an have one personal and one premier / business Paypal account
Details

WRabbit

ajbell wrote: »

Does this apply only to new customers as ive had a vantage current account for years

This was a brand new account, as a first time Lloyds TSB (but existing HBoS) customer.