lloyds vantage with 3% interest

xyz123

hi

looking to get the vantage to use as savings A/C. Did have 2/3 of these last year before they withdrew the interest.

not looking at santander 123 due to requirement for standing orders and direct debit, as i am not too keen to give them anotehr chance to screw up!

is the new vantage same as earlier i.e. just fund £1000 a month for few hours or a day and you are in business! can you still have more than one of these to take full advantage of interest rate!

ta

innovate

Are you sure you are talking about Lloyds Vantage? They didn't withdraw the interest payment on that account.

Answers to all your Vantage questions: http://www.lloydstsb.com/current_accounts/vantage.asp


There is no requirement for Standing Orders on the Santander 123. Lots of MSE people (incl myself) report having one of these accounts with no problem. However, if you do not use it for cashback DDs, your AER will be less than 3% (variable) whilst the Lloyds Vantage is always 3% (variable) - provided of course you meet the balance and other requirements at both. Santander gives you interest on up to £20K, Lloyds max £15K.

xyz123

sorry, you jogged my memory!. yes they didnt withdrew but reduced rates. and with reduced rates it wasnt attractive so i closed it.

I am not too keen on santander due to couple of probs in the past, so dont want to set up any DDs with them. so lloyds looks best for me

where did you see interest on 15k? as per the link you gave it mentions max interest of 3% on balances between 3k and 5k?

ta

innovate

Soz, £15K = 3 x £5K :cool:

Customers are limited to a total of 3 Vantage Accounts.

badger09

innovate wrote: »

Soz, £15K = 3 x £5K :cool:

Not forgetting that you can double this to £30k @ 3% if you also open 3 x BOS Classic with Vantage accounts

Gromitt

I applied for a BoS Vantage account at the weekend and at the end it said something like "Thank you, you will hear from us in the next 5 working days". I've received no email or post yet, but have notice that my Halifax login has another account called "Classic Vantage", so I assume that means the account is already setup and running. Very speedy for a bank. I expected at least a week before even hearing anything.

Heck, I even said I wanted it as a savings account!

I've transferred £1 across and the balance increased, so transferred another 3K across and will see if I get any interest in a few days time.

Few Qs:

I ticked the option to setup internet banking. I assume I can forget about this now as it appears the accounts show via the Halifax website with my Halifax username.

Whats the easiest way to open another 2 BoS Vantage accounts?

badger09

Gromitt wrote: »

I applied for a BoS Vantage account at the weekend and at the end it said something like "Thank you, you will hear from us in the next 5 working days". I've received no email or post yet, but have notice that my Halifax login has another account called "Classic Vantage", so I assume that means the account is already setup and running. Very speedy for a bank. I expected at least a week before even hearing anything.

Heck, I even said I wanted it as a savings account!

I've transferred £1 across and the balance increased, so transferred another 3K across and will see if I get any interest in a few days time.

Few Qs:

I ticked the option to setup internet banking. I assume I can forget about this now as it appears the accounts show via the Halifax website with my Halifax username.

Whats the easiest way to open another 2 BoS Vantage accounts?

When I opened my BOS with Vantage I received new internet banking details. I thought I'd closed an old H'fax account, but apparently hadn't, as it still appears when I log on via BOS.

Easiest way to open further BOS Vantage accounts is by phone.

I've only opened 1 so far but will go for another tomorrow and number 3 in a couple of weeks. I've actually used number 1 to pay for car tax and another small purchase by debit card, so it looks like I'm using it as a current account. They're probably not bothered, but I'm cautious by nature

YorkshireBoy

badger09 wrote: »

Easiest way to open further BOS Vantage accounts is by phone.

...but set aside 25 minutes or so (per account!), because the 'script' is a long one!

arthur2

For a few years now, legally Halifax is a division of Bank of Scotland plc. As from Autumn 2011 the two "brands" went into competition, and the account ranges ceased to be the same. Bank of Scotland no longer offers the "Reward" or "Ultimate Reward" Current Account. I thought that Halifax also now only does those two plus the basic Current Account.

Presumably if one already had one of the discontinued accounts, it will remain on the relevant online system but may have its terms changed. Both are AFAIK now part of the Lloyds TSB computer anyway, though the system has some bugs and inconsistencies, and some staff do not know how long cash transactions take to clear. Some people with a Premier account at BoS may not be allowed to have more than a basic Cash account with LTSB! What a muddle!

It will be an interesting exercise to watch how they strip out all the LTSB branches which are being sold to the Co-op!

Nine_Lives

xyz123 wrote: »

is the new vantage same as earlier i.e. just fund £1000 a month for few hours or a day and you are in business!

Just to comment - you don't have to do this.

I've never done it for Halifax OR TSB, or even Santander when they required £1k for their preferred CA.

I log in to (example) TSB. Transfer £1k to Halifax. I log out.
I log in to Halifax, transfer £1k to TSB. I log out.

That's 2 accounts taken care of in that example - so what does that take, about 3 minutes max? Not hours or days.

Just in case you thought that the money HAD to stay in there for a period of time.

badger09

Gromitt wrote: »

I applied for a BoS Vantage account at the weekend and at the end it said something like "Thank you, you will hear from us in the next 5 working days". I've received no email or post yet, but have notice that my Halifax login has another account called "Classic Vantage", so I assume that means the account is already setup and running. Very speedy for a bank. I expected at least a week before even hearing anything.

Heck, I even said I wanted it as a savings account!

I've transferred £1 across and the balance increased, so transferred another 3K across and will see if I get any interest in a few days time.

Few Qs:

I ticked the option to setup internet banking. I assume I can forget about this now as it appears the accounts show via the Halifax website with my Halifax username.

Whats the easiest way to open another 2 BoS Vantage accounts?

badger09 wrote: »

When I opened my BOS with Vantage I received new internet banking details. I thought I'd closed an old H'fax account, but apparently hadn't, as it still appears when I log on via BOS.

Easiest way to open further BOS Vantage accounts is by phone.

I've only opened 1 so far but will go for another tomorrow and number 3 in a couple of weeks. I've actually used number 1 to pay for car tax and another small purchase by debit card, so it looks like I'm using it as a current account. They're probably not bothered, but I'm cautious by nature

Quick update on BOS Classic with Vantage
I applied online yesterday for a 2nd account. It appeared online today, but just Classic (without Vantage). Online banking would let me upgrade to Silver, but not add Vantage

I called them and was told by adviser 1 that I needed to fund the account before I could add Vantage :cool:.

I also asked about a 3rd account. She wasn't sure I was allowed one, but after checking, transferred me to adviser 2. Adviser 2 went through the spiel and said he could open a 3rd with Vantage account for me and gave me sort code and account details Said it would appear online tomorrow.

He also said he would add Vantage to account 2 - again, this will appear online tomorrow.

Call took 28 minutes in total (including satisfaction survey at the end) but both advisers were very helpful. My 1st impression of BOS customer service is very positive. Might change if I don't have 3 Vantage tomorrow though