New Lloyds Club current account

badger09

philip1988 wrote: »

When I queried this at the bank I was told that you could do an inter transfer with Vantage but not with Club.

I can see that I will have to have a little discussion with then tomorrow when I finalise the paper work

Unfortunately, some branch & call centre staff have a habit of making up their own rules (not just Lloyds )

There is nothing in either the Club Lloyds, or Lloyds Vantage T&C which states that monthly funding has to come from an external source.

masonic

Wammer wrote: »

Got an activation code for OH's account a couple of days after opening. Received another activation code letter today, but where it says "Your activation code" it's blank. ??

Exactly the same has happened to me. My account is still activated so it looks like it must have been an artifact of the original activation process.

KTF

My 2x DD (one to each of my Tesco savings accounts) went out yesterday so now to see if interest is paid next month.

Archi_Bald

For those wanting to move their Vantages: you can now put £1,250 a month into the Newcastle BS Big Home Saver, which pays 3% AER as long as you make a monthly deposit of at least £1, and not make any withdrawals that month.

Application & account management is fully online.

They haven't yet updated their website but are definitely taking £1,250 now. It will be a bit of a slog to shift £15K into it but the nice thing is that you can continue to put money into it after 12 months, so once you have seen through the first year, you are laughing.

So if that's a good account for you, start shifting your money out of the Vantages now. No point waiting for Lloyds kicking you in July.

td_007

Any idea when £1250 will be offically announced? This is a good solution to begin migrating from Vantage...

Archi_Bald

Afraid I don't know but you can call them on 0191 244 2000 if you need confirmation.

I would think it needs to be soon, else they will upset their ISA savers.

Ed-1

Archi_Bald wrote: »

For those wanting to move their Vantages: you can now put £1,250 a month into the Newcastle BS Big Home Saver, which pays 3% AER as long as you make a monthly deposit of at least £1, and not make any withdrawals that month.

Application & account management is fully online.

They haven't yet updated their website but are definitely taking £1,250 now. It will be a bit of a slog to shift £15K into it but the nice thing is that you can continue to put money into it after 12 months, so once you have seen through the first year, you are laughing.

So if that's a good account for you, start shifting your money out of the Vantages now. No point waiting for Lloyds kicking you in July.

If you miss a month's deposit in the ISA version of this, you can't catch up later in the year unless you transfer out.

Also transfers out can be made instantly without penalty.

Can you confirm I'm reading this right?

diceydeb

Would I be able to pay in 500 each month by transfer from another bank to make up the 1500 as my wages only make 1000. Even if it goes back out again next day.

camperdown9

diceydeb wrote: »

Would I be able to pay in 500 each month by transfer from another bank to make up the 1500 as my wages only make 1000. Even if it goes back out again next day.

Why not?

Your salary could be £1500 per month paid on the 1st of the month and your monthly mortgage payment could be £1000 paid on the 2nd.

Its money in, money out as long as you pay £1500 in each month I don't think it makes any difference.

Alex

Archi_Bald

The Newcastle Big Home Saver I mentioned earlier is good for DDs as well, as long as you have registered your Club Lloyds as your nominated account.

I think you could have more than one DD because you can have several different Newcastle accounts (e.g. I also have the Sir Bobby Robson account, just for DDs). But you can only have one nominated account.

You could also combine DDs and Faster payment - e.g. pay £1 by DD from Club Lloyds, and £1,249 by Faster Payment from another account.