New Lloyds Vantage current account

pearl123

manyaonisland wrote: »

I am sure you mean classic account with 'VANTAGE' added to it. But reconfirming!

Also why cannot you have £6K in your account for a month so that the last 1K (as you plan to have 5K) will also earn 4% interest :A . of course on the day when you have 1K transferred to this account that 1K will not earn any interest but that will be only for a day or two.

Yes .Classic with Vantage.
Just seen this on the lloyds site.
We also do not pay interest on any amount over the Vantage upper limit of £6,000 (£5,000 from 1 November 2013).

manyaonisland

Wig wrote: »

I'm new to all this,...have a vantage account, that has atleast 4 DD already....

Do I have to do anything to get the extra interest rates?

Yes! (good you asked!). You will have to get in touch with LTSB either by phone or in branch and tell them to have this 'special' rate applied to your account. Also as you already have vantage account I take liberty of assuming you are already aware of 1K fund coming in account every month! That also is one criteria to get this rate.

Steve_xx

Wig wrote: »

I'm new to all this,...have a vantage account, that has atleast 4 DD already....

Do I have to do anything to get the extra interest rates?

Yes you will need to phone LTSB and ask them to add the 4% rate to your account and if you look back over this thread you will find the appropriate phone numbers that will enable you to do that.

manyaonisland

pearl123 wrote: »

5,000 from 1 November 2013.

So for 12 more months from tomorrow the 4% is applicable for balances uoto 6K

pearl123

Oopps.... I mis-read 2013 as 2012. Thanks for pointing that out!

Steve_xx

manyaonisland wrote: »

So for 12 more months from tomorrow the 4% is applicable for balances uoto 6K

actually it's 13+ months, and, the rate is already applicable to those who upgraded in September.

Wig

Yes already getting £1K funding each month. So I'll call them. thanks

Now then, partner has vantage account also but it is just a ghost account with a constant £5K balance and we swap the £1K in and out each month. There are no DD on that account. What is the easiest way to get 2 DD set up on that account? Can I set up DD from the ghost vantage account into my vantage account? How do I do that?
That would be 1 DD
done, but what about the 2nd DD?

manyaonisland

Steve_xx wrote: »

actually it's 13+ months, and, the rate is already applicable to those who upgraded in September.

Provided they have DD set up. Anticipating not all will have DD setup yet / in the process of setting it up by 31 i said 12. But you are correct for the ppl having rate applied in Sep'12 and having DD set up.

manyaonisland

Wig wrote: »

Yes already getting £1K funding each month. So I'll call them. thanks

Now then, partner has vantage account also but it is just a ghost account with a constant £5K balance and we swap the £1K in and out each month. There are no DD on that account. What is the easiest way to get 2 DD set up on that account?

you can set up Tesco internet saver to pull tiny amount (£1) by DD.
there are other means too like paypal, less Active CC. Please search this thread there are so many ideas to get you setup 2 DD's.

Also, provided you have enough savings, you can have 3 vantage accounts earning 4% interest if the balances on each are between 5k-6k, getting 1k transferred every month and having 2 DD setup. So if you have funds available think about this too..

One more tip - tesco internet saver allows you to have more than one linked account so you can have DD setup on all three vantage accounts from single tesco internet saver account.

Steve_xx

manyaonisland wrote: »

Provided they have DD set up. Anticipating not all will have DD setup yet / in the process of setting it up by 31 i said 12. But you are correct for the ppl having rate applied in Sep'12 and having DD set up.

No, that's not quite right. The rate is applicable now, providing the DD's are set up prior to 31 Oct 2012.