New Lloyds Vantage current account

pqrdef

iilg wrote: »

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.

You want £6K in at close of business on the 24th and the same at close on the 25th. Morning or afternoon on the 25th should be fine. Evenings are trickier, depends on the timings. If you go too soon, you lose a night's interest on the £60, because neither end pays it.

£5K is the critical boundary, because if you slip below it, you step down from 4% to 3% on the whole balance. This could cost over 10p a day, per account.

There are no critical steps at the £6K boundary, you only have to worry about the interest on the £60.

Remember the DD might not always go on the 25th.

pqrdef

Alex92 wrote: »

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.

They don't do monthly savers as such, just instant access savers. You can arrange a monthly payment, but you don't get any special interest rate for it.

They used to say they only paid bonus on one Internet Saver, but I never heard of that even being enforced.

beansy

When you open your first current account what do you say the account is going to be used for please?

Salaries or savings, or doesn't it matter?

Just logged me out saying:

This application is currently unavailable

We're currently experiencing some problems and are unable to continue with your application. Please try again later.

Anyone else had this?

pqrdef

Alex92 wrote: »

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

The only way to get money out is to log in and FP it out. You can send it anywhere.

They have Payment Instructions, which are payee account details, and Linked Accounts, which are the same, but they also set up a DD to suck money in.

Alex92 wrote: »

Also, is their online banking easy to use and navigate around?

Adequate, but no more, I'd say.

Logging in can be the hard part. After that, just keep hitting Next. It's easy to think you've finished when there's still another screen to go.

FPs are immediate, so if it doesn't arrive, you probably didn't send it.

Alex92_2

Just a quickie. I've set up Instant Access Saver and an Internet Saver with Tescos. I'm trying to do the Direct Debits now, but can I only set these direct debits up if I have debit cards with said Lloyds account.

I only have 2 Cards for my 3 accounts. It seems on the Tesco online banking that it asks me for my card number, but from what I can see from my online banking with lloyds, i cant find out the card number for account number 2.

Vantage Classic 1 Card (yes) with 2 d/ds going to tescos
Vantage Classic 2 - No card..?
Vantage Classic 3 - Card (yes) with 2 d/ds going to tescos

iilg

pqrdef wrote: »

You want £6K in at close of business on the 24th and the same at close on the 25th. Morning or afternoon on the 25th should be fine. Evenings are trickier, depends on the timings. If you go too soon, you lose a night's interest on the £60, because neither end pays it.

£5K is the critical boundary, because if you slip below it, you step down from 4% to 3% on the whole balance. This could cost over 10p a day, per account.

There are no critical steps at the £6K boundary, you only have to worry about the interest on the £60.

Remember the DD might not always go on the 25th.

Close of business with LTSB is when exactly, sorry?

I've not had much to do with DDs, why might it not go on 25th? When might it actually go (to Tesco bank/other bank)?

pqrdef

Alex92 wrote: »

Just a quickie. I've set up Instant Access Saver and an Internet Saver with Tescos. I'm trying to do the Direct Debits now, but can I only set these direct debits up if I have debit cards with said Lloyds account.

Forget debit cards, they aren't what Lloyds want.

Click on Payment Instructions, go to "Add a new linked account or payment instruction", then select Linked Account.

They want sort code and account number. Account name, as on card, should be same for all 3. Nickname is how you want it to show up on a menu. Reference can be blank.

johnmoney05

iilg wrote: »

Close of business with LTSB is when exactly, sorry?

I've not had much to do with DDs, why might it not go on 25th? When might it actually go (to Tesco bank/other bank)?

Only £60. Interest for the £60 will not be much. So long as you are over £5000, you are ok. Just put the £60 in when you have time or whenever you remember! OK?

iilg

johnmoney05 wrote: »

Only £60. Interest for the £60 will not be much. So long as you are over £5000, you are ok. Just put the £60 in when you have time or whenever you remember! OK?

Yes, I know (can just be shifted in a sec from e-savings acc) but this is a money-saving site, right?

Alex92_2

http://imageshack.us/photo/my-images/94/tescoy.jpg/

If you look at the above image it shows everything I can see under payment instructions. I have managed to set up my 3 accounts now, but cant tell which Tescos account they are paying into?

There is a load of people talking around me loudly and its giving me SUCH a headache trying to sort through all of this. Really confusing/annoying me.

I just want to check that the £1 is being paid out from each of my vantage accounts to the two Tesco accounts so that I can go into the lloyds branch next door and upgrade the accounts and double check its all done.