Club Lloyds Saver SO

anticlaus105

I have just set up the monthly saver. After nearly completing a new application I spotted the log in button at the last minute so it was all set up smoothly without needing to register for online banking again (as mentioned elsewhere).


The account was not listed as being able to set up a SO from my club Lloyds current account to it so I have done so manually, but still have a couple of questions.


Can you only make 12 payments in to the account or 1 payment per account month? I know in the past a 13th payment has been accepted if the account opening/finishing dates straddle a month.


I set the SO for 9th April. Once this pays can I change it to the 1st of the month or does it now have to stay as 9th?


When setting up the direct debit I set it to pay monthly until 9th Mar 2015. Will it still pay on out 9th Mar 2015? Probably a silly question but I first tried 31st Mar 2015 and it rejected it.

Lloyds_Bank

anticlaus105 wrote: »

I have just set up the monthly saver. After nearly completing a new application I spotted the log in button at the last minute so it was all set up smoothly without needing to register for online banking again (as mentioned elsewhere).


The account was not listed as being able to set up a SO from my club Lloyds current account to it so I have done so manually, but still have a couple of questions.


Can you only make 12 payments in to the account or 1 payment per account month? I know in the past a 13th payment has been accepted if the account opening/finishing dates straddle a month.


I set the SO for 9th April. Once this pays can I change it to the 1st of the month or does it now have to stay as 9th?


When setting up the direct debit I set it to pay monthly until 9th Mar 2015. Will it still pay on out 9th Mar 2015? Probably a silly question but I first tried 31st Mar 2015 and it rejected it.

Hi anticlaus.

The Club Lloyds Monthly Saver account can receive 1 payment each month. As such, you can make 12 payments into it. You can find all the info on the account here. Have a look at the 'Important Information' option at the bottom of the page.

Is the standing order you set up for the 9th April coming from another account you have with us? If so, you can change the date via Internet Banking after the first payment has been made.

In general, if a Direct Debit has a last payment date, the payment is made on that date and then stops. Hope this helps.

Thanks,

James

anticlaus105

Thanks for your reply. The standing order is from a Lloyds account. I recently learned that the Vantage account month runs from the 2nd of the month. I know for this account the money needs to be in by 25th. Can I set the SO to 1st now that it has paid or would 2nd be required?

YorkshireBoy

anticlaus105 wrote: »

Can I set the SO to 1st now that it has paid or would 2nd be required?

The answer to your question may be found in the account T&Cs...

You must set up a standing order to pay an amount of between £25 and £400 into the Account each calendar month it is open...


http://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp