Does anyone else love 'Save the Change' at LloydsTSB? :-)

waiax73

I haven't seen a thread about it yet, so here it goes....

I had to pop into Lloyds recently and I honestly don't like doing that (more of an online-banking type of a guy, I guess). Anyway, waiting in the queue & bored as hell, I started going through their brochures and found an awesome little feature which I can get with my current account - Save the Change :-)

The idea is ridiculously simple - whenever I pay with my debit card (and I do that quite a lot), the amount is rounded up to the nearest pound and transferred to my savings account.

I genuinely think it's a really cool idea - I've just started using it, and I wonder how much I can save like that in December, paying with my debit card for almost everything as I always do:) It seems painless, but will see. If I can save another 50 quid like that, I'll be happy :-)

What do you MS experts think?

HeadAboveWater

Haven't heard of it before but here is a link to the info on their website.

Sounds like a good idea

kylehp04

Same, I haven't heard of this before but it's a really good concept if you want to a little bit here and there without even realising it.

Thanks for the heads up. I will look into this.

waiax73

kylehp04 wrote: »

Same, I haven't heard of this before but it's a really good concept if you want to a little bit here and there without even realising it.

Thanks for the heads up. I will look into this.

That's exactly what I thought:)
You're more than welcome - happy to help :cool:

markwilkinson

Yes, I've been using one for a while. I'm surprised you havnt seen its availability before as its been advertised on the Internet banking screens for months now.

Mine gets paid into an e saver account, but that pays minuscule interest so I make sure I transfer it back out again when there's a sufficient sum in there and then transfer it into an account paying a higher rate.

I like the scheme.

justine68

Interesting. I'm not sure whether that makes me feel happy or queasy...

snozberry

It's been around for a while now so I'm surprised that this is the first that you have heard of it.

roxannafy48

haven''t noticed it before.... Fantastic! I've just activated it - thanks a lot!!!! :-)

stclair

Why other banks don't do it ill never know its a great concept.

waiax73

markwilkinson wrote: »

Yes, I've been using one for a while. I'm surprised you havnt seen its availability before as its been advertised on the Internet banking screens for months now.

Mine gets paid into an e saver account, but that pays minuscule interest so I make sure I transfer it back out again when there's a sufficient sum in there and then transfer it into an account paying a higher rate.

I like the scheme.

I've been using my account for two months now, I guess I just didn't bother to read about it before....

Gromitt

I've read about it before, but I never use my debit card for anything apart from ATM withdrawals, preferring to use cash back credit cards instead.

It is a painless way to save if you use your debit card a lot. Just make sure you move the amount from your savings account once in a while, else you'll get something like 0.1% interest.