New Lloyds Vantage current account

Alex92_2

Wig wrote: »

You can set up 3 DD from a single paypal account

V1 = PPDD1
V2 = PPDD2
V3 = PPDD3

Thought you can't set up PPDD2 & PPDD3 until you have set up & verified PPDD1

So if you started now you would not get them all finished in time for the cut off 31/10/2012 you'd be lucky to get the first one set up.....but there is talk of this deadline being extended.

You can get DD from your
TV license
Council tax
Phone
Water
electricity
gas
credit card(s)
You could subscribe to friends of the earth £5 a month they will let you have 2 X £2.50 DD, probably let youhave 3 x £2 DD
magazine subscription

Only pay for credit card as a DD on that list as I live from home and despite pay rent, its via standing order to my dads account. The credit card didnt work either because its a lloyds credit card and the D/D needs to be 'someone else'

Tesco Savers did the job!

innovate

Wig wrote: »

You can get DD from your
TV license
Council tax
Phone
Water
electricity
gas
credit card(s)
You could subscribe to friends of the earth £5 a month they will let you have 2 X £2.50 DD, probably let youhave 3 x £2 DD
magazine subscription

Might be easier to set up a savings account, e.g. with Tesco, for a £1/mth or so DD. That way, you don't eat noticeably into the £6K.

Gromitt

innovate wrote: »

Might be easier to set up a savings account, e.g. with Tesco, for a £1/mth or so DD. That way, you don't eat noticeably into the £6K.

I thought that, and then I thought I'll need to keep the money for the bills in another non-interest paying account, so I might as well just keep it in one of my vantage accounts and pay the bills straight from there. Its basically the same loss of interest - I can just withdraw the funds from one of my BS savings accounts on the day the bill is due, not worry about being overdrawn and refund the account quickly.

innovate

LesU wrote: »

DD will show up as active in your Vantage account after they are set up, NOT when they are first paid. Just check in the Direct Debit section and when they appear on the list, you have valid DDs.

There is nothing that indicates whether they are "active" or otherwise. As you say, when they appear on the list, you have valid DDs.

innovate

Gromitt wrote: »

I thought that, and then I thought I'll need to keep the money for the bills in another non-interest paying account, so I might as well just keep it in one of my vantage accounts and pay the bills straight from there. Its basically the same loss of interest - I can just withdraw the funds from one of my BS savings accounts on the day the bill is due, not worry about being overdrawn and refund the account quickly.

I get cashback for most of my bill DDs, with the Santander123. Nets me about £120 a year - though obviously the cashback amount depends on the size of your bills.

MoneySaverLog

Sure Lloyds make it up as they go along. First the DD's have to be "Active" , then you had to have a minimum of 4K to upgrade to the new Vantage, now they have to be to "Separate Companies" for each DD.

Whatever next will they make up?

Alex92_2

MoneySaverLog wrote: »

Sure Lloyds make it up as they go along. First the DD's have to be "Active" , then you had to have a minimum of 4K to upgrade to the new Vantage, now they have to be to "Separate Companies" for each DD.

Whatever next will they make up?

They never said to me today that they had to be seperate companies for each DD. I spoke to the head of the branch and he said everything I had done was perfect.

Wig

Gromitt wrote: »

I thought that, and then I thought I'll need to keep the money for the bills in another non-interest paying account, so I might as well just keep it in one of my vantage accounts and pay the bills straight from there. Its basically the same loss of interest - I can just withdraw the funds from one of my BS savings accounts on the day the bill is due, not worry about being overdrawn and refund the account quickly.

That's exactly the point, you know you have to pay these bills anyway, DD is the easiest way to pay, So might aswell use them from your vantage accounts. And there's no need to move the money into vantage on or after it has left for the DD, you might aswell keep the accounts topped up over £6000 with approximately the amount that they wil need for the DD, you still get the 4% on the 6,000 if you have more than 6,000 in there.

Wig

You have to accept that like every other company with a call centre, the call centre staff are not on a high wage and will be poorly trained, and they will chit chat with their colleagues and incorrect info will spread between them, or they might hear one of their colleagues say something to a customer and think "I didn't know that, I will start saying that to my callers now" even though what they heard was incorrect.... This phenomenom will also be apparent in some branch staff, you can't do anything about it it's just a fact of life.

innovate

Wig wrote: »

That's exactly the point, you know you have to pay these bills anyway, DD is the easiest way to pay, So might aswell use them from your vantage accounts. And there's no need to move the money into vantage on or after it has left for the DD, you might aswell keep the accounts topped up over £6000 with approximately the amount that they wil need for the DD, you still get the 4% on the 6,000 if you have more than 6,000 in there.

OK, fair enough if you need the Vantage accounts for your regular bills. I see them as savings accounts with a flat £6K(give or take a couple of pounds for the DDs and interest) in them for the entire month. I have extra money to pay my bills from a 3% AER current account which pays me handsome cashback - - way better deal for me than using the Vantage accounts for real bill payments.

As always, horses for courses.