New Lloyds Vantage current account

savetilibleed

canary_yellow wrote: »

I wanted to know what new DDs I could set up in order to open up the new accounts.

Other than the two DDs I currently pay all my bills in full as follows.

Monthly - credit card(shopping, petrol, some utility bills etc)

Quarterly - gas, electric, water

Annually - council tax, car insurance, tv license, season ticket for Norwich City FC,
<snipped>
I have also been accepted for a halifax credit card (0% on new spending) which I plan take advantage of by makeing the monthly minimum payment each month possibly by DD.

My question is which, if any, should I set up and in what order so that I qualify for the Vantage terms? (I intend to transfer my wages into the new accounts when necessary etc) Are there any other DDs I can setup?

Suggest Council Tax (monthly) and pay off both credit cards by DD monthly (you'll need to get a form from them for this purpose - I had to for mine). Our water charges are by DD, monthly for 8 out of 12 months. Err that's 4 DDs. Enough?

innovate

canary_yellow wrote: »

I have also been accepted for a halifax credit card (0% on new spending) which I plan take advantage of by makeing the monthly minimum payment each month possibly by DD.

Why just pay the minimum monthly payment? Sorry if this sounds a bit of a personal Q but I just don't understand why you would have a loan that costs you about 5 times as much as you can get for your savings?

If you have enough money for 2 Lloyds Vantage accounts that pay you 4% gross, surely you have enough money to pay off your credit card in full each month, before they start lobbing on interest at 17%-odd?

YorkshireBoy

innovate wrote: »

Why just pay the minimum monthly payment?

Probably because it's 0%.

Makes complete sense to me to pay only the 1% minimum and put the other 99% in a LTSB Vantage account.

innovate

Ah right, a zero % card would of course make a huge amount of sense. I have gone rusty on stoozing in 2008 or thereabouts because arbing pays so much more :cool:

broju

I've a planned transfer for today from Cov BS to my Lloyds Vantage but it's not happened yet. I've always thought they happened overnight before - anyone any idea on timings on these inter bank transfers?

Gromitt

broju wrote: »

I've a planned transfer for today from Cov BS to my Lloyds Vantage but it's not happened yet. I've always thought they happened overnight before - anyone any idea on timings on these inter bank transfers?

Check by the end of business today.

Richchad

Setting up my Tesco savings direct debits I also set up regular monthly £1 payments from Lloyds to Tesco and £1 return from Tesco to Lloyds, however I have just noticed that the payments from Tesco to Lloyds are only a one of payment, no option for regular payments.

So do I have to setup a payment via Lloyds website with a standing order to make payments?

I can't see any other options that give regular payments.

I realise this may all be unnecessary as I think "Active" just means having a direct debit set up and not lapsed because it was unused as others have mentioned.

But thought if it is easy to arrange transfers in and out on same day then can be no excuses later.

premierfella

There are notable exceptions, but not having an option to make regular payments OUT of a savings account is pretty standard. The direct debit needed on the Lloyds account is the one debiting Lloyds and crediting Tesco, which of course you have set up already for monthly payments and thus will be active.

I think most using the Tesco account will just periodically make the ad-hoc payments out - after all that means losing out on literally 1 or 2p interest on money in the Tesco account compared to the Lloyds 4%!

If you really want to sort it out for a period, the Tesco system allows you to set up multiple payments out up to one year in advance.

info_addict

Can confirm that the tip on clicking the upgrade your accounts link online, which then throws up the error message on the accounts which should have the upgrade to 4% on, does indeed work.

Yesterday I tried it and my 3 accounts gave the error whilst the other two gave the option to upgrade page. Today I have managed to get the 4% upgrade on accounts 4 and 5 and as soon as I hung up the phone they now give the error message.

iilg

info_addict wrote: »

Can confirm that the tip on clicking the upgrade your accounts link online, which then throws up the error message on the accounts which should have the upgrade to 4% on, does indeed work.

Yesterday I tried it and my 3 accounts gave the error whilst the other two gave the option to upgrade page. Today I have managed to get the 4% upgrade on accounts 4 and 5 and as soon as I hung up the phone they now give the error message.

Did it log you off automatically then?