Bank of Scotland Vantage minimum balance

master811

Hi,

I have just opened a new BOS Vantage account. Reading the info, it seems to suggest I need to ensure there is always at least £1 in it to gain the interest every month. However it opened with £0, and nothing was deposited until the next day. Will I still get interest this month (assuming I put the required £1000 in as well?)

jennifernil

Mine were all opened like that and I paid in £1 once they were open, I did receive interest.

If you are worried, I would phone them to have the point clarified.

PeacefulWaters

Interest is calculated daily.

If you had less than £1 in for a day you'll earn no interest just for that day.

colsten

Their website and T&Cs say you need to keep above £0

Keep your account in credit (that is above £0) during the monthly billing period.
http://www.bankofscotland.co.uk/bankaccounts/vantage/
https://www.bankofscotland.co.uk/bankaccounts/pdf/classic-vantage-conditions.pdf

Best go by what they say officially. Though may be "above £0" is scottish for "£0 and above" - you could ask them.

bubieyehyeh

In the past vantage accounts from lloyds measured in credit as balance greater than or equal to zero. Since I had accounts with a zero balance for most of the banking month and still got interest (pro-rata). So I don't think you need to worry.