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New Lloyds Vantage current account
Comments
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My very helpful young lady 'senior banking advisor' who opened my 3 accounts and who set up my standing orders for me from one to the next to the next and into the online saver account and who even spread out my 18K into the 3 accounts before the cheque had cleared! -she was very helpful- Told me (when I jokily said that I was going to "invent some DDs up"
) that the DD only had to be showing on the account and did not have any money coming out of them, was very supportive of my creative ideas for getting some DDs.
And today I got my 6th and final DD showing :j
Well done that Advisor.
Well they must now be aware of the "invented DD's" by now. My guess is they have a flood of Tesco DD's to input into their computer system at their processing centre
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Well it's got Tesco Bank quite a few new customers, some of whom were scarcely aware that it existed, and at very little cost.The end of the DD bonanza in sight?
The DDs won't cost much to run, and it's not that bothered about attracting their savings. But it can now sell them mortgages and credit cards and more varieties of insurance than Heinz.
Every little helps."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
There is nothing in the terms and conditions that state that these DD mandates have to be active at all, let alone an end of November date.
When have banks ever described the T&Cs properly ? Just look at the last Halifax £100 offer. They were taking the £100 back from people for not doing a proper move, but the T&Cs never stated such terms.
But an 'Active' DD is just one which can be claimed against, and since they are so easy to setup, you might as well have 2 Active DDs per account rather than risk an argument with the bank when you don't get 4%.Well it's got Tesco Bank quite a few new customers, some of whom were scarcely aware that it existed, and at very little cost.
From what I've received from Tesco, it would seem that its actually going to cost Tesco more money than what they'll make from me. So far I've had 12 or so letters from them (6 on the same day!), 2 ATM cards, etc, and they'll end up with about £24 in savings over a 12 month period.0 -
My very helpful young lady 'senior banking advisor' who opened my 3 accounts and who set up my standing orders for me from one to the next to the next and into the online saver account and who even spread out my 18K into the 3 accounts before the cheque had cleared! -she was very helpful- Told me (when I jokily said that I was going to "invent some DDs up") that the DD only had to be showing on the account and did not have any money coming out of them, was very supportive of my creative ideas for getting some DDs.
And today I got my 6th and final DD showing :j
Was this online or in a branch?0 -
When have banks ever described the T&Cs properly ? Just look at the last Halifax £100 offer. They were taking the £100 back from people for not doing a proper move, but the T&Cs never stated such terms. .
I think to be reasonable, the banks more often than not get the terms ok. The problem is the 'spin' that the banks own staff put on these terms. But yes, the Halifax debacle does serve to show that they don't always get things right to start with!0 -
Could you expand on this please?
For example, some people got the £100 credit into their account and then a few months later got the £100 debited again because they didn't transfer their salary into the account, even though the T&Cs didn't say they had to. Even now in the new £100 offer, they state transferring all regular credits (slightly less vague than the last time), but don't say it must include your salary. From the T&Cs, I'd still say it's optional.
Some branches seemed to complain about people moving DDs and SOs which were only weeks old (as they only opened them to request the £100 offer), but the T&Cs, again, didn't specify a duration that the DDs and SOs had to be open for prior to the account change request.0 -
Im confused how long the 4% vantage interest lasts for - is it until 31 oct, a year after opening, or a permanent rate?0
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