New Lloyds Vantage current account

Steve_xx

badger09 wrote: »

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

Ok so you have 3 LTSB accounts and I assume you are saying that you have set-up 2 DD mandates on one of the LTSB accounts. I'm wondering if it is possible for you to set-up the same DD mandates, ie old credit card and Paypal on LTSB accounts 2 and 3?

SimpleMan_2

Where on the LTSB web site does it say you need to have two direct debits on order to get the higher interest?
All I can find is that if you already have two DDs then you can ring them up to get it upgraded instead of going into branch.

badger09

SimpleMan wrote: »

Where on the LTSB web site does it say you need to have two direct debits on order to get the higher interest?
All I can find is that if you already have two DDs then you can ring them up to get it upgraded instead of going into branch.

Its here in the T&C, bullet 1 "Here's all you need to do to be able ....."

http://www.lloydstsb.com/current_accounts/vantage4.asp

badger09

Steve_xx wrote: »

Ok so you have 3 LTSB accounts and I assume you are saying that you have set-up 2 DD mandates on one of the LTSB accounts. I'm wondering if it is possible for you to set-up the same DD mandates, ie old credit card and Paypal on LTSB accounts 2 and 3?

I guess it would be possible to set up the same DD mandates for (unused) credit card on multiple Lloyds Vantage accounts if I specified a payment of say £1 - the potential problem is having these 'active' each month

The PayPay is much easier - but again -what do Lloyds mean by 'active' :eek:

Might be losing the will on this.

Steve_xx

badger09 wrote: »

I guess it would be possible to set up the same DD mandates for (unused) credit card on multiple Lloyds Vantage accounts if I specified a payment of say £1 - the potential problem is having these 'active' each month

The PayPay is much easier - but again -what do Lloyds mean by 'active' :eek:

Might be losing the will on this.

Why do you say it's a potential problem?

Gromitt

YorkshireBoy wrote: »

LTSB have told me that they're changing the interest payment date to the date they added the new tariff to my accounts, so for me that will now be the 10th. They say all existing Vantage customers are currently paid on a date based on when they opened their accounts, ie a statement month?

I opened my account at the middle of the month and got roughly £5 interest on the 1st of the next month, and then ~£10 the month after, so I'd say this is clearly false, and it also matches the other posters on here.

I've now got £5001 in my account, lets see if I get 4% on it

Steve_xx

SimpleMan wrote: »

Where on the LTSB web site does it say you need to have two direct debits on order to get the higher interest?
All I can find is that if you already have two DDs then you can ring them up to get it upgraded instead of going into branch.

It says:

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

The interesting bit for me is where it says "and switch or" which implies that you have to either have 2 DD's on the account or switch something. Do they mean switch your current account from some other bank I wonder?

badger09

Steve_xx wrote: »

Why do you say it's a potential problem?

Because some posters have been told that DDs have to be 'active' every month, by which I assume they mean a monthly payment has to be made.

I'm not saying that is the case - just what they have been told

Steve_xx

badger09 wrote: »

Because some posters have been told that DDs have to be 'active' every month, by which I assume they mean a monthly payment has to be made.

I'm not saying that is the case - just what they have been told

Oh I see what you mean. I have an old Tesco account so I guess I could set up a DD to Lloyds. Maybe open another Tesco account and that would serve the purpose of the 2 DD's, but I wonder if I could use the same 2 Tesco accounts for the other 2 LTSB account DD mandates?

That way it would be possible to shove it back to LTSB after it had arrived at Tesco. whereas if you do it to pay a credit card off it's kinda stuck on the card until you use it.

badger09

Steve_xx wrote: »

Oh I see what you mean. I have an old Tesco account so I guess I could set up a DD to Lloyds. Maybe open another Tesco account and that would serve the purpose of the 2 DD's, but I wonder if I could use the same 2 Tesco accounts for the other 2 LTSB account DD mandates?

That way it would be possible to shove it back to LTSB after it had arrived at Tesco. whereas if you do it to pay a credit card off it's kinda stuck on the card until you use it.

No idea

I think the potential 'stumbling block' is the apparent requirement for each DD to be 'active' each month.

T&C apply, new customers only, or customers who haven't been around for a year or more, or customers who don't know any better, or customers who don't read MSE
for full details visit..... etc etc