New Lloyds Vantage current account

missile

benz wrote: »

Just to confirm,

If I were to open a Tesco Internet Saver and a Tesco Instant Access, both funded from the same Vantage account, would I end up with the necessary 2 direct debits, or only one?

You end up with two DD.

missile

MoneySaverLog wrote: »

You need 2 Tesco Internet Saver Accounts, then for each vantage account you can set up a direct debit to each of the two Tesco Internet Saver accounts giving you the required 2 DD's on each vantage account.

You need two DDs from each Vantage account. I set up one DD transfer from each Vantage 4% account to my two Tesco accounts.

You might be able to set up two seperate DD from each Vantage to the same Tesco account?

savetilibleed

benz wrote: »

Just to confirm,

If I were to open a Tesco Internet Saver and a Tesco Instant Access, both funded from the same Vantage account, would I end up with the necessary 2 direct debits, or only one?

Two DDs. They each have to reference the correct account for money to be able to be transferred to the right account. So the reference numbers you will see on your DD list, once set up, will each contain the relevant account number.

ChopperST

Well I've just tried to upgrade my account to the new 4% rate and the chap on the phone wouldn't let me. He said there has to be a regular credit of £1k going in (which mine doesn't presently) I can't see anywhere where you have to make a regular credit to have the account just that you have to put £1k in a month to recieve the vantage interest rates. I plan to "credit" my account with £1k and go into a branch but the guy on the phone was most unhelpful!

Anyone else with similar experiences? Account already has two DD's for a Post Office saver so I've covered that base.

savetilibleed

ChopperST wrote: »

Well I've just tried to upgrade my account to the new 4% rate and the chap on the phone wouldn't let me. He said there has to be a regular credit of £1k going in (which mine doesn't presently) I can't see anywhere where you have to make a regular credit to have the account just that you have to put £1k in a month to recieve the vantage interest rates. I plan to "credit" my account with £1k and go into a branch but the guy on the phone was most unhelpful!

Anyone else with similar experiences? Account already has two DD's for a Post Office saver so I've covered that base.

http://www.lloydstsb.com/current_accounts/vantage4.asp where you can clearly see there has to be £1k/month credited to the account. This is necessary to get interest irrespective of this temporary upgrade.

ChopperST

"Adding Vantage to your Classic or Added Value Account is a smart way to get more from your current account. As long as you pay in at least £1,000 a month and stay in credit, you’ll earn tiered variable interest on your whole balance up to £6,000 (£5,000 from 1 November 2013)."

"Pay at least £1,000 into your account during the calendar month."

Thats my point - there is nothing in the T&C's about historical balances / credits to open the account just the fact you have to pay in the £1k a month to qualify for the Vantage rate. Its splitting hairs to be honest. I've paid the money in I'll go in to branch tomorrow and have the upgrade applied.

zerog

ChopperST wrote: »

"Adding Vantage to your Classic or Added Value Account is a smart way to get more from your current account. As long as you pay in at least £1,000 a month and stay in credit, you’ll earn tiered variable interest on your whole balance up to £6,000 (£5,000 from 1 November 2013)."

"Pay at least £1,000 into your account during the calendar month."

Thats my point - there is nothing in the T&C's about historical balances / credits to open the account just the fact you have to pay in the £1k a month to qualify for the Vantage rate. Its splitting hairs to be honest. I've paid the money in I'll go in to branch tomorrow and have the upgrade applied.

Call them again, you might get someone else

keiran

Can I ask perhaps a naive question here?

Why does Lloyds want to encourage ordinary people to have three current accounts with them?

One account should suffice for most individuals....

Steve_xx

ChopperST wrote: »

"Adding Vantage to your Classic or Added Value Account is a smart way to get more from your current account. As long as you pay in at least £1,000 a month and stay in credit, you’ll earn tiered variable interest on your whole balance up to £6,000 (£5,000 from 1 November 2013)."

"Pay at least £1,000 into your account during the calendar month."

Thats my point - there is nothing in the T&C's about historical balances / credits to open the account just the fact you have to pay in the £1k a month to qualify for the Vantage rate. Its splitting hairs to be honest. I've paid the money in I'll go in to branch tomorrow and have the upgrade applied.

You are correct. The fact that you haven't credited 1k in any month thus far is not a reason to prevent/bar you from having the 4% rate applied.

Steve_xx

keiran wrote: »

Can I ask perhaps a naive question here?

Why does Lloyds want to encourage ordinary people to have three current accounts with them?

One account should suffice for most individuals....

It does not want to encourage you to have three accounts. It used to allow more or less unlimited numbers of accounts until bright sparks like us on here exploited that in order to get 4% over many accounts. You are limited to three account maximum now, whereas some of us with legacy accounts have 10 of them!