New Lloyds Club current account

YorkshireBoy

Hominu wrote: »

Just to confirm, do the 2xDDs need to be paid every month to get the interest for that month?

From the T&Cs...

Credit Interest: [FONT=Arial,Arial][FONT=Arial,Arial]We will pay interest on a credit balance in your account for that billing period as long as you have a minimum of two different direct debit mandates paid from your account during the calendar month. We will not pay credit interest if this condition is not met. [/FONT][/FONT]


http://www.lloydsbank.com/assets/media/pdfs/current-accounts/clublloyds_terms%20and%20conditions.pdf

I've got 3 DDs to move, 1 is monthly, the 2nd every 6 months, and the 3rd annual.

Find another one!

I already have 6 DDs setup with Tesco, any more and they'll probably lock my account! (Not exactly typical to have 6 DDs for a savings account, all the range of £1 - £2)

My record with Tesco's Internet Saver was eight! (plus another 5 on my Instant Access Savings Account)

Herbalus

Hominu wrote: »

Just to confirm, do the 2xDDs need to be paid every month to get the interest for that month?

I've got 3 DDs to move, 1 is monthly, the 2nd every 6 months, and the 3rd annual.

Another reason why I've kept an older credit card that is now of no other use to me (I've got better cashback cards). One small purchase a month and it is a monthly DD that doesn't require the hassle of opening new accounts with companies who don't know me and want copies of documents sent etc, don't have to transfer the funds back, and also I don't have to keep the login details of an account I barely use - I've got too many of those!

DragonQ

Yeah I have a Lloyds credit card which still has a DD associated with it too. I guess I could make one payment per month if I ever need that extra DD.

will-he-payitoff

Herbalus wrote: »

Another reason why I've kept an older credit card that is now of no other use to me (I've got better cashback cards). One small purchase a month and it is a monthly DD that doesn't require the hassle of opening new accounts with companies who don't know me and want copies of documents sent etc, don't have to transfer the funds back, and also I don't have to keep the login details of an account I barely use - I've got too many of those!

Do you have to spend on it every month for it to qualify, if its set up to be paid by DD?

innovate

will-he-payitoff wrote: »

Do you have to spend on it every month for it to qualify, if its set up to be paid by DD?

Yes of course, otherwise the DD won't get paid each month, and you will have missed a pre-requisite for the interest payment.

frank777

Just make sure you spend more than £1.50 a month, I nearly got caught out by Tesco CC, :(they didn't bother to charge my DD, said it would cost to much, that was over a year ago! I now use it for Saturday/Sunday Paper once a month, :)not missing out on my 4% cashback with my Luma CC

Herbalus

frank777 wrote: »

Just make sure you spend more than £1.50 a month, I nearly got caught out by Tesco CC, :(they didn't bother to charge my DD, said it would cost to much, that was over a year ago! I now use it for Saturday/Sunday Paper once a month, :)not missing out on my 4% cashback with my Luma CC

I heard about this. It's a tough choice. A free packet of biscuits every month because the CC company won't process the statement, or a working DD and two packets of biscuits that I have to pay for...!

YorkshireBoy

Herbalus wrote: »

I heard about this.

It's been around for years on RBSG cards (Tesco still runs on their systems I believe)...they call it 'small balance write-off'.

apt

liamcov wrote: »

If I convert my existing Vantage account to Plus will my details remain the same (so salary and DD will continue as normal) and will I still be able to use the same card I have now, if not how long for?

Details remain the same. I was sent a new debit card within a week (black rather than green). You should be able to use your existing card in the meantime.

Gers

I've given up hassling Lloyds to merge my profiles! As I can see the new Club account and monthly saver on one profile and can send money back and forth I have decided to stop being anxious about it.

Yesterday my Club debit card, PIN code and activation code all arrive in separate envelopes in the same postal delivery. So much for security.

Hey ho....