New Lloyds Vantage current account

Gers

chris1 wrote: »

Don't worry, it's the calendar month that's important.

Terms are: "Vantage Interest rates are tiered on balances up to £5,000. To get interest paid each month, all you need to do is: pay at least £1,000 into your account during the calendar month, and..."

Any day of the calendar month is OK, including 1st, the second working day is just when they pay interest.

Hope that helps.

Ah! Well, I've moved the two lots back out again so perhaps their brief stay in the respective vantage accounts will be sufficient to meet the requirements. It's just unfortunate that I'm my leave it as the same time as the first month!

I'll have a look in the morning and can still check on Saturday too.

Thanks to all!

F

Gers

Just been into my accounts and interest has been added to each so I presume that all is well.

Thanks again.

Dekota

Can someone check this for me, I was thinking 4% on £5000 will amount to an interest of about £15 a month and I've recieved £9.73 ...

Gromitt

(5000 * 0.03 / 12) * 0.80 = £10.

Richchad

Dekota wrote: »

Can someone check this for me, I was thinking 4% on £5000 will amount to an interest of about £15 a month and I've recieved £9.73 ...

Depends if paid Gross or Net and if the 5k was in your account for the full month.

I have 6k in wife's accounts and got just over £20 for each account paid gross, my accounts paid net were just over £16 each, which appears that the 4% is being paid on all our accounts.

Dekota

Gromitt wrote: »

(5000 * 0.03 / 12) * 0.80 = £10.

So I have been paid 3%?

Richchad

Dekota wrote: »

So I have been paid 3%?

Looks like it, was there always 5k in your account for the full 31 days?

Dekota

Richchad wrote: »

Looks like it, was there always 5k in your account for the full 31 days?

Ah that might be the reason, I went into the branch and told them on 3rd oct that I want my account changed to a vantage 4% and then deposited £5000 on the day so I guess it has been 30 days that it had been in there.

innovate

Dekota wrote: »

Ah that might be the reason, I went into the branch and told them on 3rd oct that I want my account changed to a vantage 4% and then deposited £5000 on the day so I guess it has been 30 days that it had been in there.

Unfortunately, it looks like they didn't upgrade you to the 4% - or may be you didn't have the 2 DDs in place on Oct 31?

Have you tried pressing the "Upgrade account" button? If you get an instant error message, you are on the 4% offer. If you can proceed with the upgrade, you are not.

manyaonisland

Dekota wrote: »

So I have been paid 3%?

Yes because 4% is on balances from £5000 to £6000. had you been having 5001 in your account you would have earned interest @4% on entire 5000K balance. Now you would argue that from 5K means till 4999 3% and from 5000 it should be 4% but it doesn't seems to be what bank is expecting IMO.