Bank of Scotland Classic Account

10_66

I've just tried making a £1 payment into my 3rd BoS Vantage account from my Halifax account and it's telling me the amount exceeds the permitted amount. I've not made any other payments from the account today and there's enough money in the account to cover £1 .

savetilibleed

Very strange :think: ? I made my transfer into my new 3rd BoS account by first paying into 1st BoS then doing an internal transfer. But then again Halifax to BoS is an internal transfer. :think:

castle96

just looked at these accounts B of S vantage.
Am getting £8.12 p/mth net on £5k.
2.96% net monthly should be £9.86 surely ??

noh

castle96 wrote: »

just looked at these accounts B of S vantage.
Am getting £8.12 p/mth net on £5k.
2.96% net monthly should be £9.86 surely ??

Depends on how many days are in their month.
You should have got £9.08 net interest at the start of July 28 days at 32.438p net per day.


From the T+Cs
http://www.bankofscotland.co.uk/bankaccounts/pdf/classic-vantage-conditions.pdf

"If you meet the Vantage conditions, you will qualify for credit interest for that monthly billing period, which runs from
the second working day of a month to the first working day of the next month. This means we will work out interest
on a daily basis at the relevant Vantage interest rate from the second working day of the month and pay it to your
account at the end of the first working day of the next month."

savetilibleed

castle96 wrote: »

just looked at these accounts B of S vantage.
Am getting £8.12 p/mth net on £5k.
2.96% net monthly should be £9.86 surely ??

I got £9.08 interest on 1 July on accounts that were fully funded with £5000 for the whole month. Are you sure you didn't have some money out for a few days? I had £8.28 the previous month but the account was not fully funded the whole month. The amount will vary according to the month length and the date the interest is added (whether the 1st or, say 3rd of the month).

roxy28

typistretired wrote: »

Stand corrected BOS and LLoyds are Classic Vantage accounts.

From the drop down box with the online application did you put this account is for savings or another reason ie paying bills etc.

Gromitt

roxy28 wrote: »

From the drop down box with the online application did you put this account is for savings or another reason ie paying bills etc.

I opened all three of my BoS account over the phone. The first two were fine with 'Savings', but the third assistant wouldn't let me do that so I set it up as Bill payment and gave the account number to my ISP.

Archi_Bald

As has been discussed in another thread quite recently, BoS would probably not expect people to apply for a current account if they look for a place for their savings.