New Lloyds Vantage current account

SAHD_Jim

Zekko wrote: »

Just rang the 0800 015 0162 and a very helpful lady converted my accounts to the 4% rate with no fuss at all.

She said I should receive a pack in the post over the next few days to confirm the new rate. :T

just rang that number now and sorted both my accounts in about 2 minutes :j

carpy

Gromitt wrote: »

Because some of them had 5 or more accounts from last time the 4% rate was offered?

Now of course there's a limitation of 3.

sorry what i mean is i have 7 accounts, some people with more than 3 accounts are reporting they've managed to register more than just 3 of them for the new offer rate of 4%.

Richchad

I just rang the 0800 015 0162 number to switch my joint account and one other account which is in my name only with no problem.

However when my wife rang a few minutes later to switch her 3 accounts in her name only she was told can only switch 3 accounts and as one was our joint account we agreed to switch the joint one back to 3% as this is the one most likely to vary in value.

I thought maybe I could ring later and hopefully speak to someone different and ask to switch my joint account to 4% as I have only one other account..

The guy also mentioned the word "Active" about direct debits, which isn't mentioned in Lloyds terms anywhere.

So just to be safe have setup monthly £1 transfers in and out of my Tesco accounts.

Nine_Lives

I know this will & probably has been a topic of some disagreement.

Anyway i've just called to upgrade an account to Vantage & was given a brief run down of the requirements.
1k per month
in credit
When he spoke about the direct debit requirements he specified you must have two ACTIVE direct debits. I've read on the forums recently that they don't need to be active. Obviously a monthly direct debit is just as active as a half yearly direct debit & so on, but the guy did specify active.

Whether he's right or not is another matter, but there you go.

Steve_xx

K_P83 wrote: »

I know this will & probably has been a topic of some disagreement.

Anyway i've just called to upgrade an account to Vantage & was given a brief run down of the requirements.
1k per month
in credit
When he spoke about the direct debit requirements he specified you must have two ACTIVE direct debits. I've read on the forums recently that they don't need to be active. Obviously a monthly direct debit is just as active as a half yearly direct debit & so on, but the guy did specify active.

Whether he's right or not is another matter, but there you go.

Yes this is a common theme on here. Bank staff say they must be active, whereas the written terms don't mention the word. I think the truth is that they don't need to be active.

innovate

there's no definition of 'active', either.

savetilibleed

innovate wrote: »

there's no definition of 'active', either.

Maybe 'active' in the sense that some that are not used (less than yearly) become in the sense that the link between LTSB and whoever it was set up with breaks. That said until I changed a Saga DD from my main Vantage account to another Vantage account it had not been used since 2008 but was still listed until Saga moved it, then disappeared from the original account and appeared in the other account.

Gromitt

I asked today what they meant by "Active" and they said the DD must be collected by the supplier, but couldn't give any further details such as how often as they didn't know. One staff member said "I believe its at least once in 180 days", but couldn't confirm. Its not specified in the T&Cs, so I don't see how they could enforce it anyway.

Newly_retired

Sorry if I've missed this, but in trying to set up a DD to a charity, they say the first payment will not be taken until November. Will this be too late for the 4% scheme, even though it will be set up ( but nothing paid out) before 31 October?

innovate

You just have to have 2 DDs showing on each Lloyds Vantage account by the end of October 2012.