MSE News: New Club Lloyds current account offers 4% interest – should you sign up?

innovate

They were in an email that got sent instantly after my application, and that had landed in my spam folder

mrchagle

Never received anything, I upgraded rather than applied for a new account - Whether this made any difference.

Anyway, just been to 'Clublloyds' - used forgot password option, entered my username as sort code/account no..

Sent me instantly the password... and hey presto logged in.

altocumulus

AlwaysLearnin wrote: »

https://www.clublloyds.com/pages/rewards.aspx

Not really that inspiring! :cool:

System

If you have £5,000 in a Vantage account it pays 3% on the whole balance, not a mixture of rates according to the tiers.

But the wording for the Club account appears to suggest that the top rate only applies to the top slice. Is that true?

Mr_Goodkat

Clifford_Pope wrote: »

If you have £5,000 in a Vantage account it pays 3% on the whole balance, not a mixture of rates according to the tiers.

But the wording for the Club account appears to suggest that the top rate only applies to the top slice. Is that true?

No, the rate is applied to the entire balance

YorkshireBoy

Clifford_Pope wrote: »

If you have £5,000 in a Vantage account it pays 3% on the whole balance, not a mixture of rates according to the tiers.

But the wording for the Club account appears to suggest that the top rate only applies to the top slice. Is that true?

Not sure which "wording" you're looking at, but this seems pretty clear?...

Earn monthly tiered interest on your balance - 1.00% AER/1.00% Gross variable on balances from £1 to £1,999.99, 2.00% AER/1.98% Gross variable on balances of £2,000-£3,999.99 and 4.00% AER/3.93% Gross variable on balances of £4,000 to £5,000, when you pay at least 2 different direct debits from your account each calendar month: Interest is paid monthly. The interest rate applies to your whole balance up to £5,000. No interest is paid on amounts over £5,000.


http://www.lloydsbank.com/current-accounts.asp?WT.ac=SNCA1012

I've highlighted the important bit for you.

innovate

Where are the board guides when you need them? Couldn't we have threads about the same subject combined into one so that people can more easily find what has already been posted about the subject they are interested in?

bellagio_2

anyone know if the £1500 has to come in from an external account? I use lloyds for my bills account so already have a load of dd's and currently transfer £1150 per month into the account from santander. would i be able to continue doing this and then do a separate transfer from another lloyds account to make it up to £1500 and then transfer the money straight back?

adindas

bellagio wrote: »

anyone know if the £1500 has to come in from an external account? I use lloyds for my bills account so already have a load of dd's and currently transfer £1150 per month into the account from santander. would i be able to continue doing this and then do a separate transfer from another lloyds account to make it up to £1500 and then transfer the money straight back?

It does not need to be external. You could shuffle it among your other Lloyd current AC.

Santandar, NW are among the bank which require the funding reqirement from externals but nit lloyds, TSB and BOS.

neilcounter

I have a quick query that I was hoping somebody could help with. Basically because i get paid four weekly, rather than calendar monthly, I literally fall a few pounds below the minimum £1500 deposit required. Are there any ways in which I can get round this?

Many thanks.