New Lloyds Club current account

Wheres_My_Cashback

iAMaLONDONER wrote: »

It implies a correlation between credit worthiness and contactless

How? The two are not connected in any way at all.

10_66

td_007 wrote: »

The regular monthly DD will be affected only if you amend it. If you request a new one-off DD then that will be effective in parallel but from memory need about 3 days for the money to be pulled.

I've tried amending it and the earliest "pull" date it'll let me do now is 2 May, so it's no good for April now anyway.

POPPYOSCAR

Went into the branch to convert one of our vantage accounts over to the Club account.

We had to make an appointment to do it as they are so paranoid about mis-information and we had to watch a video explaining the new account!

One good thing though they will text us when the account falls below 4000 and goes over 5000 as the interest goes down to 2% and you get nothing over 5000.

Not much in the magazine department and most of them are e-mags anyway. We opted for the free Cinema tickets.

POPPYOSCAR

Richchad wrote: »

Without going back through this thread can someone tell me why I can't convert my Vantage account online, I get a message telling me to contact my branch?

I converted our joint account and my wife's Vantage account a while ago online, although come to think of it we ended up with her sole account under a separate profile which we are waiting to be merged..,,

We were told you cannot do it online probably because they cannot force you to sit through the 6 minute video you have to watch!!

GingerFurball_2

I applied for it online

There's a known system issue with upgrading accounts online, which might have been why you were advised against it.

melbury

POPPYOSCAR wrote: »

One good thing though they will text us when the account falls below 4000 and goes over 5000 as the interest goes down to 2% and you get nothing over 5000.

That's a new rule then getting nothing over £5,000:eek: Does that mean you don't get a bean if you go over £5,000? Sorry if this sounds a dumb question.

On my current Classic Vantage I at least get the full amount of interest up to £5,000 and it is only on anything above that figure where I don't get interest.

greenorange

I called Lloyds to order a cheque book for my new Club Lloyds account (one had already been sent out), and asked whether the debit card I'm receiving is Contactless, however she said it would be a normal card as the Contactless is showing as 'Out of scope'. I asked what that meant, but she just said call back once I receive a debit card (Don't think she knew).

I was thinking maybe I had a credit policy decline marker on my account which would stop a Contactless card being issued, however they've sent me a cheque book so maybe not.

Ah well, hopefully they can send out a Contactless card at some point.

GingerFurball_2

melbury wrote: »

On my current Classic Vantage I at least get the full amount of interest up to £5,000 and it is only on anything above that figure where I don't get interest.

Club Lloyds is the same.

reclusive46

greenorange wrote: »

I was thinking maybe I had a credit policy decline marker on my account which would stop a Contactless card being issued, however they've sent me a cheque book so maybe not.

Cheque books aren't really a credit facility these days. They give them on under 18s accounts, so I don't think that really means anything.

Archi_Bald

melbury wrote: »

That's a new rule then getting nothing over £5,000:eek: Does that mean you don't get a bean if you go over £5,000? Sorry if this sounds a dumb question.

On my current Classic Vantage I at least get the full amount of interest up to £5,000 and it is only on anything above that figure where I don't get interest.

The rules are very similar. On Vantage, you get the top interest (3% AER ) on balances between £3K and £5K. Provided you meet pre-reqs.

On Club Lloyds, you get the top interest rate (4% AER) on balances between £4 and £5K. Provided you meet pre-reqs.

The pre-reqs, clipping levels and rates differ between Vantage and Club but the general principles are just the same. Neither account pays any interest on balances over £5K.