New Lloyds Vantage current account

manyaonisland

Wig wrote: »

Can I set up DD from the ghost vantage account into my vantage account? How do I do that?

Do not get confuse with DD and SO. these are two different things. what you are taking about is SO (Standing Order). you cannot set DD from Vantage account. Try Tesco internet saver as suggested before.

exel1966

Steve_xx wrote: »

Yes that's about right, but maintain the account at about 5985 to allow for interest accrual bringing the balance upto 6k over the month. The DD's, according to the terms and conditions, don't have to be "active", they merely have to be showing on the account.
If the balance goes over 6k then you still earn interest each day, but not on the amount that is in excess of 6k.

The difference in the figures would be about 3/4p loss of interest PM, but I suppose this is moneysaving after all

gratefulone

Went into local branch 2 days ago and asked to switch exisiting Classic account to Vantage and open 2 additional Vantage accounts. Asked the 'Adviser' who saw me to print off the existing terms and conditions so we could go through them together to be crystal clear on things and was handed printed information (undated) stating
"* pay into your account at least £1,000 during the calendar month, and
* keep your account in credit (that is above £0) during the monthly billing period"

The interest monthly interest rate on balances of £3,000 up to £5,000 AER% shows 3.00

I specifically asked if 2 direct debits need to be shown on each account because there was no mention of this on the papers he had given me. He told me that he did not know, so I asked him to check with someone who did. He went out and came back saying he thought I was correct and that 2 dd's were needed on each account. When I asked him to do it for me and set them up he said he did not know how to and that he would activate the 4% rate on all 3 accounts for me by pressing the appropriate button on his screen for me without having 2 dd's on each account. When I asked him if there was a possibility that I would be denied the 4% at a later date because of insufficient dd's on each account he said "no". He also said that he was moving branch in a few days. I await the paperwork in the post confirming that the 3 accounts have been correctly set up but am not confident that he set them up correctly for me. I will not be pleased to find out that my time in branch was wasted. Could someone please clarify this for me. From previous posts it seems I will need to call the 0800 number.

MoneySaverLog

I would not be too confident that the adviser advised you correctly. Have you got what he said in writing?

The T&C's about the 2 DD's are on the website
http://www.lloydstsb.com/current_accounts/vantage4.asp

the DD's are not needed for the existing 3% vantage offer, which I suspect this paperwork relates to.

You do have to arrange these yourself with the companies involved though. So adviser was right to say he could not set them up himself. They have to be DD's and not Standing Orders.

Steve_xx

gratefulone wrote: »

. When I asked him if there was a possibility that I would be denied the 4% at a later date because of insufficient dd's on each account he said "no".

You will absolutely be denied the 4% rate if you do not have two DD's set up on each account before 31 October 2012. It absolutely states this in the terms of this offer. So his comments are incorrect.

Hominu

When I went into branch yesterday, I was told that all new Vantage accounts are by default 4% - there is no need to request it afterwards. However, the rate will drop to 3% if less than 2 DDs are present at the end of October. I said that my mobile phone contract was up next June and what would happen if it was no longer collected after that date. There response was "We don't know.".

I was also told that if I upgraded my account, that would also reduce the rate to 3% (!), but by November 2013, I would be credited with what I should have got during whatever time was remaining. From experience, that won't actually happen, but I've no intention of upgrading anyway.

MoneySaverLog

Hominu wrote: »

I was also told that if I upgraded my account, that would also reduce the rate to 3% (!)

That would probably explain why when I click on Upgrade I get "There is a technical error" message.

pearl123

MoneySaverLog wrote: »

That would probably explain why when I click on Upgrade I get "There is a technical error" message.

They want you to phone so they can try and sell you their products!

missile

Hominu wrote: »

When I went into branch yesterday, I was told that all new Vantage accounts are by default 4% - there is no need to request it afterwards. ...... .

I do not think that is correct. I have a Vantage account with more than two direct debits and I did not receive 4% this month. I believe you have to ask for it as stated in previous threads.

..... From experience, that won't actually happen, but I've no intention of upgrading anyway

So you will not be disappointed .

zerog

missile wrote: »

I do not think that is correct. I have a Vantage account with more than two direct debits and I did not receive 4% this month. I believe you have to ask for it as stated in previous threads.

Accounts opened after 10(?) September 2012 will get 4% without asking.