Lloyds Vantage accounts

FreddieFrugal

Hi there, sorry if this is asking something already answered. I did manage to find a previous thread but it was from a couple of years ago and I wanted to check.

Is it fine to just use internal transfers to fund the £1000 a month vantage requirement i.e. setting up SOs to transfer £1K between the three accounts every month?

Set my three up this week and got £15K in there, obviously will get the interest this month, but want to check it will continue. Less faffy obviously to have them transfer to each other!

Thanks!

jonesMUFCforever

Yes it is fine to transfer internally from one account to another.

Hominu

To be honest, you'll want to check them every month anyway to ensure no fraud has occured, etc.

You'll probably want to cream off the interest into another account every month,

So you might as well just do the transfers at the same time. It takes seconds to transfer 1K from V1 to V2, to V3, and then back to V1, rather than wondering when SO will kick in and possible interest loss.