re-lloyds vantage closure

joe134

hollie.weimeraner wrote: »

Exactly what I have done for me and my wife. We had 6 accounts between us with LLoyds so have left £50 in 2 accounts which will be switched to M&S for £200 in vouchers. As there weren't any DD's there was no other current account we could switch to and get a switching fee.

Hi, How many M&S A/cs can one person hold, and switch?
I am about to move my 3 lloyds,leaving £1 in each, I've used all 123 allowances.Don't fancy the club, too much required for so little return? with all the A/cs I need a large balance in my main A/c to feed them all, earning no interest, thus defeating the object ;
Looks like lloyds taking a hit.Have to remember to cancel internal SO's for £1k;;I'm just transferring each A/c seperately to my linked A/c, should be ok, same as I do with the interest monthly.

nearlyretired2004

You don't need a 'large balance' as the accounts all (as far as I know....) only require a TOTAL of the amount in a given month ....so 1 X £1000 (for example....)...OR.... 4 X £250 ....OR 10 X £100 .....all would qualify.....


(also, if you are clever and have an overdraft facility you can use that and no 'real' money needs to be there at all!!!)

joe134

nearlyretired2004 wrote: »

You don't need a 'large balance' as the accounts all (as far as I know....) only require a TOTAL of the amount in a given month ....so 1 X £1000 (for example....)...OR.... 4 X £250 ....OR 10 X £100 .....all would qualify.....


(also, if you are clever and have an overdraft facility you can use that and no 'real' money needs to be there at all!!!)

Hi N, my fault, aint got my thinking head on today.
LLoyds need £1500 per A/c. 123x £500, et.al. Lloyds being the largest, intend to stagger payment in/out, at beginning of each month.BUT, just have to be sure they are done, because, with 3 x 123, etc, it only takes a bank holiday to throw you into a wobbler, with main a/c.

Chris2000

Has anyone had their Vantage accounts closed yet? I phoned over a week ago to request closure of 2 accounts. They are still showing in internet banking.

The telephone agent told me they would have to fill in a form and send it to the relevant team so the accounts may show on IB for a few more days, then I'd receive the closing interest by cheque. I didn't expect that a few more days would mean a week-and-a-half.

jonesMUFCforever

Why not move the balance out through Internet banking - why wait for a cheque

Chris2000

jonesMUFCforever wrote: »

Why not move the balance out through Internet banking - why wait for a cheque

I already did that, they meant any residual interest for the part month would be sent by cheque when the accounts are closed. But they seem a bit slow getting round to closing them.

jonesMUFCforever

If it has been credited to account move that as well then - stop worrying about it LOL