New Lloyds Vantage current account

iris

I have today received my Vantage bank statement and my account has been upgraded from the date of my phone call and the interest paid at 4% (also from date of phone call).

I notice that under the heading of Your Interest Rates it says

To get interest paid each month, all you need to do is:
- stay in credit during the month
- pay in at least £1000 ech month

Any balance up to £6000 will earn the interest rate in the table above.

However, there is no mention of the necessity to have 2 DDs.

I want to open another Vantage account, but don't want the bother of setting up DDs.

Have the rules now changed?

Steve_xx

iris wrote: »

I have today received my Vantage bank statement and my account has been upgraded from the date of my phone call and the interest paid at 4% (also from date of phone call).

I notice that under the heading of Your Interest Rates it says

To get interest paid each month, all you need to do is:
- stay in credit during the month
- pay in at least £1000 ech month

Any balance up to £6000 will earn the interest rate in the table above.

However, there is no mention of the necessity to have 2 DDs.

I want to open another Vantage account, but don't want the bother of setting up DDs.

Have the rules now changed?

You don't have to have the DD's set up to have Vantage added to an account, but you do need them to attract the 4% rate.

iris

Steve_xx wrote: »

You don't have to have the DD's set up to have Vantage added to an account, but you do need them to attract the 4% rate.

But it doesn't say you need 2 DDs to qualify for the 4% interest on page 1 of my statement.

It just says you need to pay in £1000 per month and have £5000+ in the account.

Wheres_My_Cashback

Why are you arguing the toss. it dont matter what your statement says, it matters what the t&c's say !

Steve_xx

iris wrote: »

But it doesn't say you need 2 DDs to qualify for the 4% interest on page 1 of my statement.

It just says you need to pay in £1000 per month and have £5000+ in the account.

It may not say it on your statement. But on the published terms it says:

Vantage terms and conditions – for customers with the limited up to 4% AER offer from 10 September 2012 – 31 October 2013

Vantage 4% Interest Rate – Eligibility Requirements
You can participate in the 4% interest rate until 31 October 2013 if you

• apply for Vantage or you apply to add this rate to your existing Vantage account; and
• have at least two direct debits set up on your account by 31st October 2012.

Rollinghome

iris wrote: »

But it doesn't say you need 2 DDs to qualify for the 4% interest on page 1 of my statement.

It just says you need to pay in £1000 per month and have £5000+ in the account.

The bit you want is here: http://www.lloydstsb.com/current_accounts/vantage4.asp

Here’s all you need to do to be able to earn variable tiered interest up to 4% AER until 31 October 2013:

• Before 31 October 2012 open an account with Vantage or add this offer to your existing qualifying account and switch or have two direct debits on your account
• Pay at least £1,000 into your account during the calendar month.
• Keep your account in credit during the monthly billing period.

To get the 4% you need to have between £5k and £6k in the account.

iris

Wheres_My_Cashback wrote: »

Why are you arguing the toss. it dont matter what your statement says, it matters what the t&c's say !

Got out of the wrong side of the bed today did we!!

Wheres_My_Cashback

NOPE! Did you read the t&c's...obviously not!

innovate

iris wrote: »

...... but don't want the bother of setting up DDs.

Some ideas for "easy" DDs: https://forums.moneysavingexpert.com/discussion/4168667

luci

I upgraded 2 of my accounts on Wednesday. However when I click on the blue upgrade button, it offers to upgrade me to the Silver account. Should I be concerned that they haven't been upgraded?