Lloyds Vantage Accounts

Zekko

I love this account. 4% on 12k with instant access.
I'm now getting approximately 4.36% (pre-tax) interest on all my cash savings.

Gromitt

amiehall wrote: »

As a Lloyds customer, I'm annoyed not to have been alerted to this.

TBH, They've alerted people according to their terms and conditions: In the branch, in the major newspapers and as TV advertisements.

Although I still heard about it on here first!

amiehall

Gromitt wrote: »

TBH, They've alerted people according to their terms and conditions: In the branch, in the major newspapers and as TV advertisements.

Although I still heard about it on here first!

I visit a branch about twice a year and don't own a tv or buy a newspaper

I do find it odd however, that they wouldn't just switch all customers over to their new rates. When I was opening my account, I naturally opted out of all marketing etc. and the adviser specifically recommended I let them contact me by one method so I wouldn't miss out on new offers for existing customers. I guess I would then have thought I might have been contacted...

MoneySaverLog

They do the same with ISA's the rate drops after a year and you have to switch to a more competitive rate. It's no different here, those on the ball will get the new rate, those customers who are not will stay on the lower vantage rate/limits.

You do have to keep an eye on what the banks are doing to make the most of your money.

innovate

When savings rates drop, it is slightly different because they (all banks) now need to write to you that this is about to happen. Though I agree, whether it's about changing or new offers, it is in the end down to every individual to keep an eye on what is on offer and how their savings perform. Which is very easy to do - - even people who don't read papers, don't watch TV, don't go to Branches very often etc etc can these days easily find out from the Internet what their banks are offering.

There is no rule/law that they must tell you that they have new / different / better offers. May be it would be nice if they did - - but there would then instantly be complaints from some people that they don't want to receive any "marketing bumph". They basically cannot win, someone will find something wrong with whatever they do (and that someone might include myself at times).

Zekko

I assume that the 4% rate kicks in from when it is activated on the account?... i.e. not after the 31 October 2012 closing date.

MoneySaverLog

From the 10th September, when I added it, as far as I know. I'll know for certain on the 2nd October when it's added as I've worked it out this month.

Nine_Lives

I'll go looking for the 0800 number later as i'm a bit busy trying to fix my phone at the mo.

Basically i'm going to call up to upgrade to the Vantage for the 4.00% not the 3.00%. Does anyone know their hours of business so that i'm not trying to call outside of the timeframe? Thanks.

FLAPJACK

Zekko wrote: »

I love this account. 4% on 12k with instant access.
I'm now getting approximately 4.36% (pre-tax) interest on all my cash savings.

It is a good rate, but remember 1st Nov next year it drops again! but better than nothing!!

pqrdef

innovate wrote: »

even people who don't read papers, don't watch TV, don't go to Branches very often etc etc can these days easily find out from the Internet what their banks are offering.

Quite so. Every time I log in to internet banking to check on my Vantage accounts, they tell me they're offering me a loan, a Cash ISA and car breakdown insurance. But not a word about 4% on my current accounts.