New Lloyds Club current account

Steve_xx

littly_kitty wrote: »

I am thinking of opening a Club Lloyds account and was also told this morning that two tesco DDs wouldn't be valid. But looking through this thread, it seems that is not the case, so I guess the staff must be wrong.

Two DD's to one Tesco account may not be valid. But one DD to each of two Tesco savings accounts certainly is valid.

badger09

littly_kitty wrote: »

I am thinking of opening a Club Lloyds account and was also told this morning that two tesco DDs wouldn't be valid. But looking through this thread, it seems that is not the case, so I guess the staff must be wrong.

It wouldn't be the first time bank staff have made up their own version of T&Cs and it won't be the last:cool:

Kim_13

badger09 wrote: »

It wouldn't be the first time bank staff have made up their own version of T&Cs and it won't be the last:cool:

Indeed. The only way the advice would be correct is if you were talking about two DD's from the same Tesco account. This wouldn't work, as two separate mandates are required. But a DD for an Internet Saver and an Instant Access Saver (both Tesco) are fine.

You may be able to get two of one type but it's probably safer to have one of each as Tesco state that they may place a limit on the number of accounts that you can have (more likely to do that if you're going for two of the same, I'd say.) I saw that online this morning when applying for an account.

Ed-1

Kim_13 wrote: »

Indeed. The only way the advice would be correct is if you were talking about two DD's from the same Tesco account. This wouldn't work, as two separate mandates are required. But a DD for an Internet Saver and an Instant Access Saver (both Tesco) are fine.

You can create 2 mandates to the same account from one Tesco account. You just need to type in a different account nickname when setting them up.

teddysmum

1) Is it possible to have a joint Lloyds Club account and hence have two regular saver accounts (one each ) ?


2) While speaking to Tesco Bank's customer service today, I mentioned that I had read that it is possible to have certain Tesco accounts draw a direct debit from another bank and asked if this applied to the current account and was told that it did.


Is this not incorrect ?

YorkshireBoy

teddysmum wrote: »

1) Is it possible to have a joint Lloyds Club account and hence have two regular saver accounts (one each ) ?


2) While speaking to Tesco Bank's customer service today, I mentioned that I had read that it is possible to have certain Tesco accounts draw a direct debit from another bank and asked if this applied to the current account and was told that it did ?


Is this not incorrect ?

1) Yes.
2) No.

20aday

teddysmum wrote: »

1) Is it possible to have a joint Lloyds Club account and hence have two regular saver accounts (one each ) ?


2) While speaking to Tesco Bank's customer service today, I mentioned that I had read that it is possible to have certain Tesco accounts draw a direct debit from another bank and asked if this applied to the current account and was told that it did ?


Is this not incorrect ?

1. Looking at the Monthly Saver page for Lloyds Bank it states the following:

have one Monthly Saver account in either your sole name, or held in a joint savings account.

So it appears you'd be unable to have more than one Regular Saver a/c with a joint Club Lloyds account (your OH and yourself would have to contribute to one savings account).

2. I set up a Direct Debit for my Tesco Savings account from Yorkshire Bank so I can't see why it wouldn't be possible to do the same for a Tesco Bank current account.

ceredigion

teddysmum wrote: »

Is this not incorrect ?

YorkshireBoy wrote: »

2) No.

Struggling with my grammar here, but shouldn't that be.
Yes it is incorrect?

teddysmum

20aday wrote: »

1. Looking at the Monthly Saver page for Lloyds Bank it states the following:

have one Monthly Saver account in either your sole name, or held in a joint savings account.

So it appears you'd be unable to have more than one Regular Saver a/c with a joint Club Lloyds account (your OH and yourself would have to contribute to one savings account).

It is clear that if you have a joint saving account, one holder has to have a Club current account. However, if there was a joint current account, Iwould only have one savings account, as the other would be that of my husband, who would also be a Club account holder, though joint.


I don't expect this to be possible, though.

teddysmum

20aday wrote: »

2. I set up a Direct Debit for my Tesco Savings account from Yorkshire Bank so I can't see why it wouldn't be possible to do the same for a Tesco Bank current account.

But yours is a bank to Tesco savings account, rather than bank to a Tesco current account, only the latter being what I thought possible.


I await the reply to the 'yes' 'no' question.:)