Lloyds Vantage interest rates drops

Cryptic_Sun

Mr_Goodkat wrote: »

If you don't have them already with £10k savings I would:
1x Halifax for £100 = £5 per month
Club Lloyds for 4% on £5k
2 x TSB 5% on £4k

Mr_Goodkat wrote: »

Both Halifax and Lloyds require two DDs to be paid out each month but you can easily set up for example a Tesco savings account and fund it with £1 a month from your Halifax account and £1 a month from your Lloyds account

Great post, just the sort of advice I was looking for. Will be a pain to set up but worth it!

robotrobo

Archi_Bald wrote: »

One Tesco Internet Saver and one Tesco Instant Access Savings account will solve the "2 DD needed" conundrum on a range of current accounts.

hi archie ,
ignore the quote above.

we have done the 4x123accounts
we have done the f/d saver 2accounts.
we have done the tsb 4x2joint accounts.
we have maxed out the new nisas.
i now need to drop the amount in my santander accounts as i am over the £85k by £7k as our fixed isas are maturing, takeing in to account that i am running out of d/debits to spread around, i do read other posts & i know some advice given is in accurate, so very reluctant to jump in, your excellent posts have helped me & thankyou, is there anymore?.
regards.
mr bean:)

YorkshireBoy

robotrobo wrote: »

is there anymore?

Club Lloyds pays 4% AER on £5K, so will take care of £15K of your cash since you can have 1 each plus 1 joint.

You will need 2 DDs though, but Tesco will come to the rescue!

Any surplus (from either income, or drip fed from other lower paying accounts) could be put in the Club Lloyds monthly saver, again paying 4% AER on up to £400 per month. One each, so £800 per month.

robotrobo

YorkshireBoy wrote: »

Club Lloyds pays 4% AER on £5K, so will take care of £15K of your cash since you can have 1 each plus 1 joint.

You will need 2 DDs though, but Tesco will come to the rescue!

Any surplus (from either income, or drip fed from other lower paying accounts) could be put in the Club Lloyds monthly saver, again paying 4% AER on up to £400 per month. One each, so £800 per month.

thankyou yorky, i am just struggling to find anymore d/d from anywhere, i did have a appointment at my local branch, but cancelled as no d/debits spare , £800 no problem there.
I have just had a brainwave!!!, i do have 2 dds to my grandkids, i could set up the club lloyds account create 2 new d/d & cancel the existing ones.
thankyou

YorkshireBoy

robotrobo wrote: »

thankyou yorky, i am just struggling to find anymore d/d from anywhere, i did have a appointment at my local branch, but cancelled as no d/debits spare , £800 no problem there.
I have just had a brainwave!!!, i do have 2 dds to my grandkids, i could set up the club lloyds account create 2 new d/d & cancel the existing ones.
thankyou

Why the reluctance to open a pair of Tesco accounts? Fear of online banking?


Re the grandkids accounts, are you sure it's them pulling via DD, rather than you pushing via SO?

robotrobo

[banking?




Why the reluctance to open a pair of Tesco accounts? Fear of online banking?

You have hit the nail nearly on the head!, while i have struggled to do things on the net , i have achieved quite a few things, but i have this block/fear no confidence.
i do try to read & absorb the advice given , but it does not sink in that easily, i sustained significant head injuries some years ago when a car smashed in to me at 60 mph from the rear,(on a push bike) surely i carnt keep blaming this?, have you heard the phrase THICK AS A COOP CUSTARD ?, THATS MORELIKEahahahaha!.
Am i right in saying that d/d are only achievable from companys like gas , rates & so on , if so how can i get or set up a new ones if i say open a internet tesco one ?, i do know how to do the s/orders ,thats easy , i have loads of them & can easily create new ones , but they mostly only exceptt d/d.
I do also have a natwest account that i use as a holding account that my pension goes in to that i use to run the weekly household bills etc, theres no d/d in that account.
kind regards.

mr bean

YorkshireBoy

robotrobo wrote: »

Am i right in saying that d/d are only achievable from companys like gas , rates & so on , if so how can i get or set up a new ones if i say open a internet tesco one ?

Typically DD originators are utility providers, banks (for loan and credit card repayments etc), and the like. However, some savings accounts let you pull money into them by direct debit. Tesco is one such savings account provider.


So opening a couple of Tesco savings accounts will provide the 2 DDs required for Lloyds, Halifax, etc who require them for interest and Rewards respectively.


If you are reluctant to open these, you could set up some charity donations instead. If you do this, please don't abuse them by paying ridiculously low amounts as it costs them money to receive funds this way.

robotrobo

If you are reluctant to open these, you could set up some charity donations instead. If you do this, please don't abuse them by paying ridiculously low amounts as it costs them money to receive funds this way.[/QUOTE]

quite right, i have being doing the cancer, overseas , etc for donkey years.

BodMor

Letter in yesterday that Vantage (no longer available to new customers) is being withdrawn from existing classic accounts (which will no longer pay interest) from May. They were already about bottom of the league for interest rates (1.5%) so it is switch time for even the most dedicated customer (my first current account was with them 35 years ago).