TSB Enhance

savetilibleed

So as the 4% is about to end for my 3 Lloyds Vantage a/cs, I need another home for 3 x £1000 and a bit more besides. Actually could do with maybe a joint a/c too for some of wife's money maturing Jan next.

Are TSB online applications going through OK now? I already have 8 current accounts (Lloyds, BoS, Santander, Nationwide) and one credit card with only £500 credit limit. Will another 1 or 2 accounts look bad on credit record? I guess I could for now get another Nationwide FlexDirect, but I'll still need other ones by the year end.

YorkshireBoy

savetilibleed wrote: »

I already have 8 current accounts (Lloyds, BoS, Santander, Nationwide) and one credit card with only £500 credit limit. Will another 1 or 2 accounts look bad on credit record?

In my opinion, no...so long as you don't have a lot of overdraft facility on them.

I already had 13 current accounts when I opened my 3 x BoS Vantage at the start of the year. Shortly afterwards I was accepted for a Tesco credit card with enough limit to cover 15/16 months of spending.

Fast forward 3 months and I then had 16 current accounts when I opened my 3 x FlexDirect accounts in April...and Nationwide gave me a £2.5K O/D facility on all 3.

So I'd have to say no, it doesn't seem to have had a negative effect for me in terms of acceptance.

savetilibleed

YorkshireBoy wrote: »

In my opinion, no...so long as you don't have a lot of overdraft facility on them.

Ok that's good. My oldest Lloyds account has a £700 planned overdraft that I've never used. And I've had that account over 40 years. But one problem is that TSB don't let you open a Enhance unless employed, and continuing with the application will result in a Cash a/c. :mad:

YorkshireBoy

savetilibleed wrote: »

But one problem is that TSB don't let you open a Enhance unless employed, and continuing with the application will result in a Cash a/c. :mad:

Same outcome in branch?

savetilibleed

YorkshireBoy wrote: »

Same outcome in branch?

No idea. This was a first attempt and it was online.

innovate

savetilibleed wrote: »

but one problem is that TSB don't let you open a Enhance unless employed:

No problems opening a proper Enhance if you are retired.

Richchad

socrates wrote: »

Well when you credit the first monies in - you are already done for that month - then you can start the old

A to B - B to C - C back to A

I have been doing the above with Lloyds rolling in and out of each account on first day each month with no problem, is it okay to do same with TSB & BOS or are they expecting the 1k from an outside source, if so could transfer from Lloyds to TSB & BOS..

It would be nice to know if anyone has been doing the rolling from account 1 etc and had no problems, before I set it all up in the next week or two?

YorkshireBoy

Richchad wrote: »

I have been doing the above with Lloyds rolling in and out of each account on first day each month with no problem, is it okay to do same with TSB & BOS or are they expecting the 1k from an outside source, if so could transfer from Lloyds to TSB & BOS.

If you check the TSB Enhance T&Cs you'll see they are identical to the Lloyds Vantage T&Cs.

If you check the BoS Vantage T&Cs you'll see that, like Lloyds and TSB, there's no requirement for external funding.

I believe the only current account providers (paying decent interest) requiring external funding at the moment are Nationwide and Santander.

Richchad

YorkshireBoy wrote: »

If you check the TSB Enhance T&Cs you'll see they are identical to the Lloyds Vantage T&Cs.

If you check the BoS Vantage T&Cs you'll see that, like Lloyds and TSB, there's no requirement for external funding.

Thanks Yorkshireboy I looked at T&Cs and yes you are right they do look the same, I guess I just wanted reassurance from people actually doing it before I set up all the standing orders..

eskbanker

Richchad wrote: »

I guess I just wanted reassurance from people actually doing it before I set up all the standing orders..

I've been rotating £1K (manually) around my three TSB Enhance accounts since they spun off from Lloyds and haven't encountered any issues thus far, I'm not sending in any external funding.