New Lloyds Club current account

Funkyfreddy

matty17r wrote: »

I have opened my club lloyds account. I am trying to set up the direct debits. Do I do this on the tesco bank or on lloyds? Been on the phone to tesco and they say I need to do it through Lloyds. Sorry I am being thick!

Set up through your Tesco Online Banking.

Create a Regular Monthly Payment to be made to your Tesco savings account from your Lloyds Club account - Tesco will then "create" a direct debit on your Lloyds Club account to request the monthly figure you have chosen - £1 or whatever.

FF

AlwaysLearnin

anna42hmr wrote: »

I have a theory on this, but would someone else who opened the account the launch weekend 31 march be able to check theres?

I too have the £5 club fee on 2 May and then a reverse stating it was waived and a payment of the interest (12.92 in my case)

However, I also received a small payment of interest on 1 April (87p) for the pro rata period from opening date to end of the first month. But at this interest payment had no note above ref the charge and the waiver.

Yep, opened end March, small interest amount early April and the fee applied and reversed this month too.

matty17r

Funkyfreddy wrote: »

Set up through your Tesco Online Banking.

Create a Regular Monthly Payment to be made to your Tesco savings account from your Lloyds Club account - Tesco will then "create" a direct debit on your Lloyds Club account to request the monthly figure you have chosen - £1 or whatever.

FF

Thank you so much funkyfreddy for your help!

td_007

The debit and then credit of £5 "charge" will be normal ongoing process if the conditions of the account are met. This was mentioned to me by the manager when I had gone in branch. The rationale is to provide a monthly reminder of the charge so that customers can be more vigilant and not get the charge.

Richchad

We have one joint club account and two sole club accounts, however the joint account was a conversion from a vantage account and the two sole accounts opened as new accounts.

The £5 fee was shown as debit and credit only on the joint converted account, no mention of it on the two sole accounts.

All were opened at roughly the same time and all paid interest on 2 May.

So will see what happens next month if the fee is shown on any of the accounts.

badger09

Richchad wrote: »

We have one joint club account and two sole club accounts, however the joint account was a conversion from a vantage account and the two sole accounts opened as new accounts.

The £5 fee was shown as debit and credit only on the joint converted account, no mention of it on the two sole accounts.

All were opened at roughly the same time and all paid interest on 2 May.

So will see what happens next month if the fee is shown on any of the accounts.

Opened and funded (with £1500) my Club Lloyds account on 1 April. interest of £0.04 credited :rotfl:

Topped up to £5k 2 April. Can't remember precise dates, but DDs appeared mid April and paid out 22nd & 23rd. No £5 has ever appeared

Is it possible that the charge is only applied & reversed on accounts 'converted' from Vantage :cool:

Richchad

badger09 wrote: »

Is it possible that the charge is only applied & reversed on accounts 'converted' from Vantage :cool:

Yes, I wondered that.... perhaps as a reminder to change of T&Cs and that a £5 fee is now involved... :huh:

AlwaysLearnin

Mine was a new acct, not a conversion...

Richchad

AlwaysLearnin wrote: »

Mine was a new acct, not a conversion...

Okay, not conversions then, we will see next month and maybe have more idea I guess...:D

tipsychick

td_007 wrote: »

The debit and then credit of £5 "charge" will be normal ongoing process if the conditions of the account are met. This was mentioned to me by the manager when I had gone in branch. The rationale is to provide a monthly reminder of the charge so that customers can be more vigilant and not get the charge.

I think td_007 has most likely provided our answer!

All of ours were opened at the very end of March, had a few pence of interest credited in early April and have had the £5 charge applied, then waived this month.