Club Lloyds Monthly Saver

Steve_xx

Lloyds_Bank wrote: »

Hi Steve_xx,

With the Club Lloyds Monthly Saver, it's only possible to pay in once a month by standing order. That standing order can come from a Club Lloyds current account.

Thanks,

Craig

I see. Though it doesn't mention it in the terms!

Lloyds_Bank

Steve_xx wrote: »

I see. Though it doesn't mention it in the terms!

Thanks, Steve_xx. I've just had a check and in the conditions it does say "You can only pay money into the Account by your Standing Order". However, I'll certainly pass on your feedback on the wording.

Hope this helps,

Craig

noh

No the T+Cs do not state only one monthly standing order but the overall account description does.
http://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp

"Save from £25 to £400 a month and enjoy instant access with a great fixed rate for one year. You can make as many withdrawals as you like into your Club Lloyds current account, but you can only pay in once a month by standing order and can’t replace what you’ve withdrawn. This standing order must reach your account by the 25th of each month for it to be counted as that month's payment."

Steve_xx

noh wrote: »

No the T+Cs do not state only one monthly standing order but the overall account description does.
http://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp

"Save from £25 to £400 a month and enjoy instant access with a great fixed rate for one year. You can make as many withdrawals as you like into your Club Lloyds current account, but you can only pay in once a month by standing order and can’t replace what you’ve withdrawn. This standing order must reach your account by the 25th of each month for it to be counted as that month's payment."

Indeed so, well spotted.

ramjug

why is this WORLD so complicated...

Hominu

ramjug wrote: »

why is this WORLD so complicated...

It's called life.

Life, in general, is complicated.

I'm guessing you didn't find your ideal job when you were 16.
I'm guessing you didn't buy your first house in 5 minutes.
I'm guessing that you didn't meet your ideal partner on the first date.
etc...

eskbanker

ramjug wrote: »

why is this WORLD so complicated...

Not convinced that it is - this particular product is clearly geared to monthly equal payments by standing order, but these can easily be varied in a matter of seconds if you choose. If that's too much hassle, there are other regular saver products out there, or plenty of other ways of earning interest that are more geared to irregular contributions!