New Lloyds Vantage current account

iilg

Say I've got exactly 6k in a Vantage4% account but a monthly DD (to another bank, like a Tesco saver) for 60 quid is supposed to come out of it on 25th, by exactly when do I need to transfer 60 quid into the account to avoid losing maximum interest? Between 8pm & midnight on the 24th? Thanks.

Alex92_2

Went into branch today to check that they have been upgraded and was told that I need another 5 Direct Debits. Standing orders dont count.

I had standing orders paying out rent and some other bits and transferring the 1k across the accounts, but they said that it wont be eligible for interest as they arent direct debits.

Is there any way of me getting 5 more direct debits, without really paying anything more out. e.g. theres no point me buying a car on finance just to get 1 of the direct debits checked off.

Please help!

psychic_teabag

Some savings accounts set up a D/D to a linked (current) account. See https://forums.moneysavingexpert.com/discussion/4168667

blindman

Alex92 wrote: »

Went into branch today to check that they have been upgraded and was told that I need another 5 Direct Debits. Standing orders dont count.

I had standing orders paying out rent and some other bits and transferring the 1k across the accounts, but they said that it wont be eligible for interest as they arent direct debits.

Is there any way of me getting 5 more direct debits, without really paying anything more out. e.g. theres no point me buying a car on finance just to get 1 of the direct debits checked off.

Please help!

Tesco saver seems to be the quickest and easiest to setup.

You only need two it would seem.

Paypal is quick to setup the DD-no need to pull money from the TSB account either.

Alex92_2

psychic_teabag wrote: »

Some savings accounts set up a D/D to a linked (current) account. See https://forums.moneysavingexpert.com/discussion/4168667

Would I need to set up 5 individual savings accounts to get the D/D linked to one of my vantage accounts? Or could I do something like this below: (I dont know monthly limit for tesco, but using a figure of £300 as an example)

Classic Vantage 1 - £100 to Tesco Saver / £100 Another Monthly Saver
Classic Vantage 2 - £100 to Tesco Saver / £100 Another Monthly Saver
Classic Vantage 3 - £100 to Tesco Saver / £100 Another Monthly Saver

or would I have to setup 5 new completely different saver accounts? Obviously.. i think.. you couldnt put out of the same account £50 to Tesco, £50 to Tesco.

blindman wrote: »

Tesco saver seems to be the quickest and easiest to setup.

You only need two it would seem.

Paypal is quick to setup the DD-no need to pull money from the TSB account either.

How would I only need two? I think ill need to set these all up ASAP, as this vantage offer runs out on 31st October.

I use PayPal, but how/why would I setup a D/D going from my TSB account to PayPal, I have it setup the other way around though, so any excess funds from PP go straight into my TSB account.

On my first account, I have Gym Direct Debit and Credit Card automatically paid off, but as my credit card is lloyds tsb one, it doesnt count as direct debit apparently. Thats why I need 5 more.

Such a kick in the balls this! :mad:

blindman

Alex92 wrote: »

How would I only need two?

The answer is in the thread :cool:



I use PayPal, but how/why would I setup a D/D going from my TSB account to PayPal.

Because it will count as a DD and is very easy to setup.

Go to your paypal account and look for the answer there :cool:

or even look in this thread


Such a kick in the balls this! :mad:

As is answering the same Q's time and time again :rotfl:

pqrdef

Alex92 wrote: »

Classic Vantage 1 - £100 to Tesco Saver / £100 Another Monthly Saver
Classic Vantage 2 - £100 to Tesco Saver / £100 Another Monthly Saver
Classic Vantage 3 - £100 to Tesco Saver / £100 Another Monthly Saver

Tesco, yes. Or you can tickle the DDs with manual one-offs, you don't have to set up a monthly schedule.

Many other savings accounts only support one DD.

Alex92 wrote: »

Obviously.. i think.. you couldnt put out of the same account £50 to Tesco, £50 to Tesco.

People are doing that, using two Tesco accounts. There will be complaints if they disallow it. I doubt if they'd care that much. They don't worry about people circulating the £1000 round the accounts, although it's clearly a game.

Alex92_2

blindman wrote: »

As is answering the same Q's time and time again :rotfl:

Cheers lol.

With PP, under Direct Debits it says (number changed for security) ;

Debit and credit cards

• 
  x-8712 (Expires on 1/2014)
  

Surely this means I have a D/D already set up to my PP account, but it is not acknowledged by Lloyds TSB in that account. Only the Gym Membership is.

Alex92_2

pqrdef wrote: »

Tesco, yes. Or you can tickle the DDs with manual one-offs, you don't have to set up a monthly schedule.

Many other savings accounts only support one DD.


People are doing that, using two Tesco accounts. There will be complaints if they disallow it. I doubt if they'd care that much. They don't worry about people circulating the £1000 round the accounts, although it's clearly a game.

Thanks. A quick question (before I go ahead and research it - I can only do so much research for now, as im still in work!).

The Tesco Savings 1 and Tesco Savings 2 accounts that someone was talking about in a link provided above. Are they both monthly savers? I was under the impression most banks would only allow you to have 1 monthly saver.

Alex92_2

Is the Tescos Account the Instant Access Savings account?

I havent banked with them before, nor do I know anyone that has.

Would it be possible for me to set up a direct debit that bounces the money from the Tescos account to another account, such as First Directs 1st account and then dripfeed that into a Regular Savers account and get 8% interest, as the Tescos rate is pretty bad.

Will I be able to set up 2 Instant Access Savings accounts (e.g. more than one), or will I have to setup 1 instant access savings and one internet saver.

Also, is their online banking easy to use and navigate around? I've only had experience with Natwest and Lloyds before, both were good.