New Lloyds Vantage current account

Steve_xx

Gromitt wrote: »

I would guess it just means that if you upgrade from Vantage Classic to another product that has Vantage (Vantage Silver or whatever the other pay-for accounts are now), then you may lose you 4%, but no worries, it'll be added in November next year.

I can't see that being the case since you can add Vantage to any of their accounts. Therefore if you were to upgrade to one of those then the 4% rate should continue to apply.

musashi10

Why have so many accounts? I don't understand

Richchad

musashi10 wrote: »

Why have so many accounts? I don't understand

Why do you think?
4% interest for each account, where else can you get that with instant access...........

innovate

Steve_xx wrote: »

I can't see that being the case since you can add Vantage to any of their accounts. Therefore if you were to upgrade to one of those then the 4% rate should continue to apply.

Someone reported there was a problem upgrading from Classic to Silver once they had registered for the 4% offer.

So it's quite conceivable that the Lloyds systems can't cope automatically with such upgrades.

That whole 4% offer seems to have been invented by a Marketing department with little or no regard to how easy or otherwise it was to implement, and what the ongoing admin costs would be. Oh, and never mind those customers who'd love to be able to see whether they are on 3% or 4%, or who would have liked to request the 4% online - - - or even better, who could just have got the 4% if they met the pre-requisites.

Steve_xx

innovate wrote: »

Someone reported there was a problem upgrading from Classic to Silver once they had registered for the 4% offer.

So it's quite conceivable that the Lloyds systems can't cope automatically with such upgrades.

That whole 4% offer seems to have been invented by a Marketing department with little or no regard to how easy or otherwise it was to implement, and what the ongoing admin costs would be. Oh, and never mind those customers who'd love to be able to see whether they are on 3% or 4%, or who would have liked to request the 4% online - - - or even better, who could just have got the 4% if they met the pre-requisites.

Yes, understand what you say , but, it is the case that the Vantage bit can be added to any of their account types. So I cannot understand why it would affect someone should they decide to upgrade.

innovate

Anyone else with a Direct Debit from Yorkshire Building Society?

Just had an email, they were unable to collect DDs between Sept 22 and 28, and will credit £5 for the inconvenience.

Thank you very much YBS, this will easily cover the "lost" interest for all my Lloyds £1 DDs for a year :cool:

Frank121

I received the 4% today on the 6K balance in all three of my accounts. The extra 1K has been there since the accounts were upgraded on the 17th and not all the DD's are set up yet. (So I received around 15days interest for the extra 1K) It's all as I expected as LTSB did say that the accounts would be upgraded to the 4% vantage immediately and I had up until the 31st October to sort out the DD's.

pqrdef

exel1966 wrote: »

It doesn't really matter as long as it's every calendar month. You could even do 10 x £100 deposits if you like.

No it's not calendar month, quite. The Vantage month starts on the 2nd working day of the month and ends with the first working day of the next month.

A standing order for the 1st will always be done on the first working day, which means it will always count towards the month just ending.

However, it's problematic to set up SOs from the 2nd to the 5th, since this could turn out to be the first working day, and so go into the wrong month.

Dekota

I'm intending to go into my local branch tomorrow and open a vantage account. I've already got a graduate account with them. Two questions,

- Will my graduate account be changed into a vantage or is the vantage seperate and I'll keep my graduate whilst having vantage?

and more importantly,

- am I ok to deposit £2,500 in cash? Or will I be asked questions? My grad account has £2,500 and I want to top up that to £5k and transfer to a vantage account.

Cheers

exel1966

pqrdef wrote: »

No it's not calendar month, quite. The Vantage month starts on the 2nd working day of the month and ends with the first working day of the next month.

Yes, I did know that, see my post a few above yours. I was perhaps being a little too generalistic.