5% Savings Loophole

Vortigern

dickdasdedly wrote: »

As Radaday says BOS is Part of Lloyds group. Can i use BOS to pay the £1500 in to club Lloyds to meet their pay in criteria then return it to meet BOS`s if they part of the same group ?.

Yes, you can.

If the terms don't specify external funding, then external funding is not required.

dickdasdedly

External funding Is required to meet there Ts&Cs. Or do you mean external as in from outside the Lloyds group.

Vortigern

dickdasdedly wrote: »

External funding Is required to meet there Ts&Cs. Or do you mean external as in from outside the Lloyds group.

Could you provide a link to those terms?

External funding is not required by Lloyds or TSB or BoS

I feed 3 Club Lloyds accounts by cycling £1500 between them, by standing order on the same day each month.

Similarly for my TSB accounts and BoS

I was using external as meaning 'not the same bank' rather than 'not the same group'. But it's not relevant here.

Radaday

can anyone tell me when you have to pay the money into the BoS account.

Is it best to do it on the first day of the month or can it be payed in at any time of the month to gain the maximum intrest

masonic

Radaday wrote: »

can anyone tell me when you have to pay the money into the BoS account.

Is it best to do it on the first day of the month or can it be payed in at any time of the month to gain the maximum intrest

The day of the month you fund the account will make no difference if you are keeping the account at a constant balance. Otherwise, you'll earn interest on the money based on the number of days it is in the account, just like any account.

ceredigion

Radaday wrote: »

can anyone tell me when you have to pay the money into the BoS account.

Is it best to do it on the first day of the month or can it be payed in at any time of the month to gain the maximum intrest

#Radaday
read the T&Cs that I took the time to post for you in #593. The very next paragraph after the one you were told to read will give you the answer .




edit; what is really sad, is I don't even have a BoS account yet know what the conditions are.

badger09

ceredigion wrote: »

#Radaday
read the T&Cs that I took the time to post for you in #593. The very next paragraph after the one you were told to read will give you the answer .




edit; what is really sad, is I don't even have a BoS account yet know what the conditions are.

Wot - not even 1 BoS?:eek:

ceredigion

badger09 wrote: »

Wot - not even 1 BoS?:eek:

What can I say, must be a pauper :laugh:

dickdasdedly

Vortigern. I cant even figure out how to do the quotes on here never mind adding links as im not very savvy at this stuff lol. But you did answer my question So thanks.

Also is it the Tesco instant access savings accounts people are using to generate DDs to meet other banks Ts&Cs. Im in the process of opened two but the paperwork hasnt come through yet

jimjames

badger09 wrote: »

Wot - not even 1 BoS?:eek:

I don't either!