New Lloyds Club current account

Nath4n

Thanks to those who flagged up the imminent launch of this new account. I can of course be patient until Monday but if anyone knows the answer to either of these I'd be grateful:

- Can this new account be opened in addition to already having 3 x Classic+Vantage accounts?
- I imagine this new account will be limited to 1/2 (or perhaps even 3 like vantage) per customer?

Many thanks.

anotheruser

Herbalus wrote: »

Yes, although I do find it quite amusing that both banks, having been different entities for several months now, are both replacing their identical accounts, from when they were the same group, with a new offering at around the same time as each other.

Amusing?

It was more than likely a planned change that the combined bank was due to make. But as both banks want to distance themselves from each other, I suspect this is the reason for them both forging ahead to differentiate themselves.

jonesMUFCforever

innovate wrote: »

Not quite. TSB requires a £500/mth deposit.

To make £200 gross interest in a year, you need:

TSB: 2 x £2,000 accounts, £500 monthly deposits into each

Lloyds: 1 x £5000 account, £1,500 monthly deposit, 2 DDs.

Those of us who have been in this game for a while will take about 2 minutes to set up the required DDs. Those who have not might take a little longer to figure it out. Nothing very onerous.

The D/D actually have to debit the account every month not just set up.

PeacefulWaters

MABLE wrote: »

Pure speculation.

But fits with the Lloyds 4% offer last year and the way the Halifax fivers work.

So pretty reasonable assumption.

MABLE

PeacefulWaters wrote: »

But fits with the Lloyds 4% offer last year and the way the a Halifax fivers work.

So pretty reasonable assumption.

We shall see next Monday. Anyway happy with 4 percent but TSB seem more appealing.

GingerFurball_2

Holding the current account gives you more benefits than just interest on your current account balance.

innovate

jonesMUFCforever wrote: »

The D/D actually have to debit the account every month not just set up.

Not hard to do, is it? I have been doing this for Halifax for quite some time.

jonesMUFCforever

innovate wrote: »

Not hard to do, is it? I have been doing this for Halifax for quite some time.

It will be for some people who have multiple accounts - 2 needed for every one.

iAMaLONDONER

innovate wrote: »

Not quite. TSB requires a £500/mth deposit.

To make £200 gross interest in a year, you need:

TSB: 2 x £2,000 accounts, £500 monthly deposits into each

Lloyds: 1 x £5000 account, £1,500 monthly deposit, 2 DDs.

Those of us who have been in this game for a while will take about 2 minutes to set up the required DDs. Those who have not might take a little longer to figure it out. Nothing very onerous.

You knew what I meant lol!

You need to have things available to set a DD up to though!

innovate

jonesMUFCforever wrote: »

It will be for some people who have multiple accounts - 2 needed for every one.

If you say so. I still maintain it is not hard to do - done it all before when we needed 2 DDs on the 4% Vantage accounts. I had/have a total max of 5 accounts that require, concurrently, 2 monthly DDs and it's all very simple to achieve.

The only fly in the ointment would be if Lloyds demanded a restricted kind of DDs but I doubt they would.