New Lloyds Vantage current account

zerog

psychic_teabag wrote: »

I think it's fair to say that you have the other £1000 elsewhere earning around about 3%. So I'd go with the comparison of 6000 @ 4% vs 6000 @ 3%.

True, but he should have said that in his original post.

innovate

psychic_teabag wrote: »

I think it's fair to say that you have the other £1000 elsewhere earning around about 3%. So I'd go with the comparison of 6000 @ 4% vs 6000 @ 3%.

zerog wrote: »

True, but he should have said that in his original post.

I responded to the following post

slopemaster wrote: »

...............<snip>
(as I've got other instant access accounts paying 3% anyway)........<snip>

So I thought an illustrative comparison between 3% (AER) and 4% (AER) would be fair.

Castleman

Does anyone know if this shows in your internet banking? Phoned to set this up but can't see any change to my accounts?

cheers

srcandas

Castleman wrote: »

Does anyone know if this shows in your internet banking? Phoned to set this up but can't see any change to my accounts?

cheers

Nor me. I guess as it is only temporary (1 year) they don't want to over play it

Just out of interest when I went in and changed my two accounts I had a very soft sell of:

A loan (why would I want to deposit at 4% and borrow at 7.9%!!!)
A credit card (already happy with the two I have)
Air miles (never heard of easyjet???)
Mobile Insurance (my phone cost £5 )
Switch my mortgage from C&G to Scottish Widows (What??!*!!)

Weird people but to be fair the lady did only print out one copy of the terms saying every little helped the planet. I didn't mention the 5 probate accounts they opened by accident for my mother which a year later I am still receiving statements luckily full of zero's :rotfl:

Steve_xx

Castleman wrote: »

Does anyone know if this shows in your internet banking? Phoned to set this up but can't see any change to my accounts?

cheers

It does NOT show on the accounts.

vulcan59

Went into my local branch today to upgrade my existing Vantage account to 4%. This account already has more than two direct debits on it.

Got referred to the manager who told me I would only get the 4% if I set up two new direct debits or transferred two from another bank. I told him that the T&Cs didn't specify that and kept pushing him. Eventually he went away, made a phone call, came back and said I could have it. He then seemed very unsure how to do the change, said he needed to add tariff code 13 to the account.

After it was changed he said it was ok because it now showed "introductory rate" when he looked at the account. Does that sound right? Didn't exactly fill me with confidence so I might give it a day and check with phone banking whether the 4% has been applied.

Steve_xx

vulcan59 wrote: »

Went into my local branch today to upgrade my existing Vantage account to 4%. This account already has more than two direct debits on it.

Got referred to the manager who told me I would only get the 4% if I set up two new direct debits or transferred two from another bank. I told him that the T&Cs didn't specify that and kept pushing him. Eventually he went away, made a phone call, came back and said I could have it. He then seemed very unsure how to do the change, said he needed to add tariff code 13 to the account.

After it was changed he said it was ok because it now showed "introductory rate" when he looked at the account. Does that sound right? Didn't exactly fill me with confidence so I might give it a day and check with phone banking whether the 4% has been applied.

Yes it doesn't sound quite like it will be right. I would phone them today and ask them about that.

Gromitt

It comes to something when even a manager can't parse the terms and conditions of an offer correctly!

2 New DDs in addition to the ones you have already? I think we've heard everything now. Whatever next.

vulcan59

Steve_xx wrote: »

Yes it doesn't sound quite like it will be right. I would phone them today and ask them about that.

Yes, having thought about it there was no point waiting so I just called and they said it was set up correctly. Account now fully funded and I'll see what interest gets paid next week. Won't be a lot extra this month but should be detectable.

info_addict

Just received a couple of paper statements for two of the 3 Vantage accounts I have upgraded to the 4% and notice that on the first page under the section titled "Your Interest Rates" it now shows £5,000 + 4.00% AER and £6,000+ 0.00% AER.

There is also another sheet called "Historical Information" and on this sheet there is a comment stating "The interest rates that applied to your account changed" and then it lists the pre 4.00% rates

I wonder if this is one way of checking your account has been set up correctly - or will it simply appear on all accounts as standard?