Lloyds money transfer offer

bikelesschick

msallen wrote: »

... and don't forget that the interest you earn from the TSB account will be net of tax - the 5% is gross.

The truth is bikelesschick that there is a very very small amount to be made, but a single mistake could wipe out any profit and lead to a loss. Speaking frankly, your opening comments on this don't fill me with confidence that you will avoid any mistakes.

Thank you all for your replies. I've often thought about doing something like this but never came round to it and when this letter came through I thought it could be a good idea but after all your comments and having a look on this website I think I may try something different, like stoozing. I have a credit card which happens to have a reasonable bill to be paid off soon and I have the cash to pay it so I may just transfer the balance and move the cash to my TSB account

PeacefulWaters wrote: »

Non-taxpayer could sign an R85.

I have already spoken to TSB about being a non-payer and signed a form (which I'm guessing it's the R85 you mentioned!). Thank you.

MABLE wrote: »

I got the same offer. Also if you read carefully they want to know what the money is to be used for. Saying I want it to put into a TSB account
may not go down too well. Besides you would not make any profit.

I was going to tell them it was to pay my credit card off;) but I'm probably better off learning a bit more before trying anything really. Thanks though!