free £50 without putting salary?

monki_man

after transferring my abbey account over to Lloyds TSB classic plus account, I thought the t&c said you had to pay in your salary each month of at least £1000 in the account. I've only had it for nearly two months and I've had put in £1070 and still got a £50 bonus.

Not sure if anyone else had the same experience, but im gonna withdraw all the money or whats left of it and bung it to my A&L online saver

P.s my abbey account only had 95p in it!

ronnie_2

might be something to do with them being very busy and maybe not checking all the accounts :beer:

jonesMUFCforever

I would agree with above poster. Latest leaflet states that £50 will be credited within a month of receiving salary of £1000 or more.
Earlier offers did have the sum of £500 which had to be paid in.
Eric

grumbler

The other day they required just 'regular credit' (see my posts #9 and #14 in the Best Current Accounts Discussion Area thread)...
Now (since when?) they require 'salary regular credit':

To welcome you to Lloyds TSB we'll pay you £50 within 31 days of receiving your first regular salary credit of £1000 or more within 2 months of opening your account.

If you have you account for about 2 months you fall under old T&C.

AP

You have to pay in at least £1000 per month but it doesn't matter where this £1000 comes from. Some people still get their salary paid by cheque instead of by BACS and the system cannot tell whether the pay-in is a salary credit or anything else.

jonesMUFCforever

I have had confirmation that if you do not fill in a salary re-direction form then you will not get the £50.
If you get paid by cheque - tough!.
Eric

Sofa_Sogood

ejones999 wrote:

I have had confirmation that if you do not fill in a salary re-direction form then you will not get the £50.
If you get paid by cheque - tough!.
Eric

Maybe a dumb question, but what about people that are paid in cash? Not applicable?

jonesMUFCforever

Sofa_Sogood wrote:

Maybe a dumb question, but what about people that are paid in cash? Not applicable?

Yes!
You have to complete a salary re-direction form which the Bank's Account transfer unit will process.
You can still open an account of course if you are paid in cash but you will not get the £50.
Eric

Sofa_Sogood

ejones999 wrote:

Yes!
You have to complete a salary re-direction form which the Bank's Account transfer unit will process.
You can still open an account of course if you are paid in cash but you will not get the £50.
Eric

Thanks.

Might be an idea to pay myself by cheque then?

(It made more sense last night after a glass or two of vino ... I'll read it again )

isasmurf

ejones999 wrote:

I have had confirmation that if you do not fill in a salary re-direction form then you will not get the £50.
If you get paid by cheque - tough!.
Eric

If this is true then LloydsTSB haven't thought this through. Like others have mentioned some still get by cheque, and some like me, don't have to go through the bank filling in forms to redirect my salary. I can just log on to my personnel record at work and change my bank details on the computer. An increasing number of companies are taking this method of electronic personnel management, so I'm sure I wouldn't be alone.
So would that mean I wouldn't get my bonus either?

jonesMUFCforever

isasmurf wrote:

If this is true then LloydsTSB haven't thought this through. Like others have mentioned some still get by cheque, and some like me, don't have to go through the bank filling in forms to redirect my salary. I can just log on to my personnel record at work and change my bank details on the computer. An increasing number of companies are taking this method of electronic personnel management, so I'm sure I wouldn't be alone.
So would that mean I wouldn't get my bonus either?

No. As long as you complete the salary re-direction form and give a valid company address that it can be posted to, you will qualify provided your monthly salary is £1k or more.What or how the actual salary is re-directed is of no consequence to the bank as long as it can be seen that it is paid into Ltsb.
Eric