New Lloyds Vantage current account

Milarky

If anyone is already using their Vantage accounts for 3% at the moment (as I am) then capping your balance at £5K until the next interest payment shows (due Tuesday 2nd) will achieve a couple of goals at no risk of lost interest

1) whether 4% rate in actually in-payment (if not will still receive 3% of full balance)
2) whether the interest payment date has changed as a result of contacting them to register the account (nothing in account, yet!)

Personally it sounds unlikely Lloyds would go to the lengths of changing our interest payment dates so I wouldn't expect to see that. (Different dates on different accounts for instance?) We could even see a 'bonus' of getting 4% backdated to 2nd September - because what they are doing is a 'tier' change for certain accounts and it must be simpler for them to apply this tier a month at a time.

On the other hand, to even get 4% you must maintain a balance of at least £5K (the current prudent cap) so at the very least we'll have to think about a 'safety margin' for a while.

exel1966

YorkshireBoy wrote: »

When you get round to moving them be aware that they're now saying 95% including the fee, so max transfer 93% with a 2% BT fee.

Ok, thanks for that, I'll try and wing it for 95% + the 2%.:D

I assume you have the same deal as me ? 0% until 02 Sept 13 with a 2% fee as long as completed by 31/10/12?

exel1966

YorkshireBoy wrote: »

I can see some complaints being filed come 2nd October (when people do their sums) due to this ambiguity/omission in the T&Cs.

That could be quite costly for Lloyds given that many will have 3 accounts with the potential for this problem.

YorkshireBoy

exel1966 wrote: »

Ok, thanks for that, I'll try and wing it for 95% + the 2%.:D

Good luck! I tried all my charm and failed because the 'system' wouldn't allow it.

I assume you have the same deal as me ? 2% until 02 Sept 13 with a 2% fee as long as completed by 31/10/12?

Nope, mine's 0% interest.

My offer says "until your September 2013 statement date".

I made a smart move several years ago (when I took out a previous follow on deal) and changed my statement date to the 28th of the month. From memory it bagged me another 3 weeks of 0%, so could do the same for you. Try it?

exel1966

YorkshireBoy wrote: »

Good luck! I tried all my charm and failed because the 'system' wouldn't allow it.Nope, mine's 0% interest.

My offer says "until your September 2013 statement date".

I made a smart move several years ago (when I took out a previous follow on deal) and changed my statement date to the 28th of the month. From memory it bagged me another 3 weeks of 0%, so could do the same for you. Try it?

Sorry finger trouble, I meant 0% !

The 2nd is my statement date, but I'd already had that one in my head to request a new date at the end of the month to maxmise the pennies.
Incidentally, I'm sure a few days ago it read like yours ' until your Sept 13 statement date'.

pqrdef

Milarky wrote: »

because what they are doing is a 'tier' change for certain accounts and it must be simpler for them to apply this tier a month at a time.

The tier fluctuates one day at a time. Close of business every working day, you get one working day's interest on the current balance at the appropriate rate for the current balance.

After all, it's supposed to be a current account.

So there's no need to be religious about maintaining a continuous minimum balance. If you dip below £3K for one night, you only lose the 3% tier for the one night.

Unless you go overdrawn, in which case you lose the lot for the month.

badger09

My husband high tailed it down to our local Lloyds TSB today - he has been a Lloyds customer for over 30 years and has 3 'full' Vantage accounts, one of which is his main (honestly ) current account with enough DDs to spread across all 3.

He was told that the staff hadn't been informed about these 'new accounts' but were having a conference call about them at 15.00 today (when branch closes ) He was also told that "Obviously 'they' (Lloyds - the employer of this young whippersnapper!) wanted to encourage new current account customers". Husband not best pleased as a long standing customer with more than £20k sloshing around looking for a home.

I've set up 2 DDs today on one of my Vantage accounts but not sure I can be faffed to go through the rigmarole on the other 2 - especially if the DDs have to be used every month. Don't think I've got that many dormant credit cards, though Paypal is always an option

Nine_Lives

How do you guys get around 6 DDs? I see some of you mentioning creating 6x £1 pulls & such.

I don't have 6 DDs, so i don't know how you'd create them - never mind ACTIVE ones.

I'd like the full 3 accounts, but i'm going to fall short as i don't have the 6 DDs to do it with.
Any advice on how i can get around this (other than "just create 6 DDs" - i understand how to create 6 SOs, but not 6 fake DDs).

YorkshireBoy

K_P83 wrote: »

How do you guys get around 6 DDs? I see some of you mentioning creating 6x £1 pulls & such.

Opening 2 Tesco savings accounts will get you a pair of DDs for each Vantage account you hold.

It's what I, and others, on this, and other threads, are doing.

Granted I already had a pair of Tesco accounts, but I've sorted mine with 2 phone calls earlier this evening.

badger09

K_P83 wrote: »

How do you guys get around 6 DDs? I see some of you mentioning creating 6x £1 pulls & such.

I don't have 6 DDs, so i don't know how you'd create them - never mind ACTIVE ones.

I'd like the full 3 accounts, but i'm going to fall short as i don't have the 6 DDs to do it with.
Any advice on how i can get around this (other than "just create 6 DDs" - i understand how to create 6 SOs, but not 6 fake DDs).

I've only managed 2 so far , though I could expand to my other 2 Vantage accounts
1 - set up on an old credit card that I don't normally use - but could use for minimal amounts if necessary
2 - set up another bank account account on PayPal for my ebay purchases - again something I could use if necessary