BOS Vantage

kora_2

YorkshireBoy wrote: »

In your scenario given, if your SO leaves on the Thursday before Good Friday the SO back from Vantage won't be actioned until the following Tuesday after Easter Monday. This means you'll be earning nothing on your £1K* for 5 days."Every month"!? I log into my main current accounts 2-3 times a week!


* Surplus funds should be kept in a linked savings account until needed...not in a current account paying zilch! I'm with Halifax and use their Online Saver paying (me) 2.8% AER. Maybe BoS have an equivalent?

Ah i have got you know! Ok i shall log on more heh!
I have a Post office account linked to my reward account (paying a measly 2.35% - could be worse). I had one with santander at 2.8% but the CS was awful - so awful i couldn't get my reward account linked to deposit funds, so told them to shove it. (still have my ISA with them, makes me nervous, will be ditching and switching April anyway).

Thanks for your advice, much appreciated

chris1

YorkshireBoy wrote: »

... if your SO leaves on the Thursday before Good Friday the SO back from Vantage won't be actioned until the following Tuesday after Easter Monday. This means you'll be earning nothing on your £1K* for 5 days.

Or he could simply set up the standing orders for the same day. He has £5K in the Vantage account to cover it, so no loss of interest on the £1K, and no need to remember to do anything at the right time. .

savetilibleed

WHen I applied online for my new (first as yet) BoS classic account (now upgraded to Vantage) I answered the question 'Do you want a debit card' with 'No'. Surprise surprise - what turns up this morning??? Yeh. So I phoned and got it cancelled. I suppose there is an up side to having the card as part of the telephone ID process when you call is the security code on the back of the card. I still had them cancel it though.

badger09

badger09 wrote: »

Hmmmm

Thanks for that info. Did you apply online? My application, which I went ahead with before your reply (patience not being one of my many virtues ) asked how many current accounts I have, what this account will be used for, and and my total savings

My thinking was that if they know that:
I want 3 accounts with them (only 1 applied for so far)
I already have multiple current accounts
I have squillions of savings

then they won't really want me as a customer! :eek: So... I have been somewhat economical with the truth

I got the standard 'we've received your application and we'll be in touch' reply so I'll keep everything crossed and update here.

Update as promised, with apologies for the delay. Been away for a few days on our first cruise. Not as glamorous as it sounds only 4 days up the Seine to Rouen, but a good way to test the waters :rotfl:

Applied online on 12th; welcome pack, debit card, pin etc arrived between 17th & 21st. I'll fill it at the end of the month when an AA Fixed Rate matures, but hold off applying for accounts 2 & 3 until my Santander 3.2% runs out in June

savetilibleed

Umm I would like my wife to open a BoS Vantage account. But her income is insufficient to meet the requirements. As far as getting money in and out is concerned, that's OK I can do that. But do they check up her income? When I opened my BoS account I totalled up my income that goes in LTSB so I suppose BoS may have been able to check that. But for my wife, can we simply 'say' that more than £1000 will go in (as it will for the interest)?

innovate

There is no requirement for any minimum income.

The Vantage conditions are that each month you must:
■ pay into your account at least £1,000 during the calendar month; and
■ keep your account in credit (that is above £0) during the monthly billing period.

Source: http://www.bankofscotland.co.uk/bankaccounts/pdf/classic-vantage-conditions.pdf

If you do not meet the above in a given month, all that happens is that you will not get any interest for that month.

guitarman001

So just swipe £1k in per month.
This is good news as my Lloyds Vantage accounts will be full soon. Easy access and a decent rate.

badger09

savetilibleed wrote: »

Umm I would like my wife to open a BoS Vantage account. But her income is insufficient to meet the requirements. As far as getting money in and out is concerned, that's OK I can do that. But do they check up her income? When I opened my BoS account I totalled up my income that goes in LTSB so I suppose BoS may have been able to check that. But for my wife, can we simply 'say' that more than £1000 will go in (as it will for the interest)?

On the online application, BOS do ask for details of income, but have no way of verifying what you enter. So... what you enter is for you to decide

rb10

badger09 wrote: »

On the online application, BOS do ask for details of income, but have no way of verifying what you enter. So... what you enter is for you to decide

Income figures on applications are checked to ensure that they are 'reasonable'.

Checks may occur against other applications (including those where income is actually verified, e.g. mortgage), account turnover, postcode, among others.

Big trouble lies ahead for those who inflate their income for an application.

innovate

badger09 wrote: »

On the online application, BOS do ask for details of income, but have no way of verifying what you enter. So... what you enter is for you to decide

Yeah but remember there is that National Hunter database which apparently captures what you said when about your income. Probably makes nil difference unless/until you apply for a big loan/mortgage