Club Lloyds 5% @ £5k Interest Date

sjw64

Have I set up my Lloyds Club acount correctly to get the 5% interest as I dont seem to have been paid interest this month (on any of the 3 accounts me/wife have.

17 Nov - £5k paid in

1 Dec- DD 1 taken out
1 Dec - DD 2taken out
1 Dec - Topped up to £5K
1 Dec - Interest Paid

5 Dec - £1500 paid in
8 Dec - £1500 paid out

2 Jan - DD 1 & DD2 taken out

So far no interest has been paid (all my/our acts are pretty much set up like this - including TSB and no interest paid. Ive either set it up wrong or it might be done to Bank Holidays - I dont know.

Thanks

Stuart107

Probably just down to bank holidays... the club account interest usually goes into my account on the 2nd but it's not there today for me either. If it's not there on Monday then it'll be time to investigate further.

Archi_Bald

http://www.lloydsbank.com/assets/media/pdfs/current-accounts/clublloyds_terms%20and%20conditions.pdf

The pre-req for getting paid interest on a Club Lloyds is:

Credit Interest: We will pay interest on a credit balance in your account for that billing period as long as you have a minimum of two different direct debit mandates paid from your account during the calendar month.

You have met the pre-req.

As to payment, the terms state:

We will work out credit interest on a daily basis at the relevant Club Lloyds credit interest rate from the 2nd working day of that month and pay it to your account at the end of the first working day of the next month.

You need to be a bit more patient as the payment won't happen until the end of today. Check tomorrow morning.

Fruit_and_Nut_Case

sjw64 wrote: »

Club Lloyds 5% @ £5k Interest Date

I think you'll find it's 4% AER interest.

rtaylor1729

Fruit_and_Nut_Case wrote: »

I think you'll find it's 4% AER interest.

Beat me to it.

An easy one to confuse with the two TSB accounts most of us have open too!

mcphail

Mines not in today - any one else not received theirs?

bolzano

Mine is there.

colsten

mcphail wrote: »

Mines not in today - any one else not received theirs?

When did your 2 DDs pay out?

mcphail

Ahhh - I have 2 S/Os. Got interest last month with them. When did it change? thanks

YorkshireBoy

mcphail wrote: »

Ahhh - I have 2 S/Os. Got interest last month with them. When did it change? thanks

It hasn't. You've always needed two DDs to pay out.

The reason you got it last month was because Lloyd's allow you time to set these up.

mcphail

YorkshireBoy wrote: »

It hasn't. You've always needed two DDs to pay out.

The reason you got it last month was because Lloyd's allow you time to set these up.

Ok thanks for that - job to do tonight then!