Lloyds club open at last (hooray)

robotrobo

badger09 wrote: »

robotrobo

I answered part of this question (at least once!) yesterday - see post 11

https://forums.moneysavingexpert.com/discussion/5197543

You are getting yourself (and me :cool:) confused. If you could list the accounts you have set up so far, showing full bank and account name, and in whose name, maybe I can help with a step by step guide.

EG
LLoyds Club self
Lloyds Club wife
Tesco Current self
Tesco Current joint
etc etc

Also, a rough idea of how much cash you are now trying to find a home for, and where it is at the moment.

I think Colsten did this for you a short time ago

yes like yourself colsten , yorkshire , have been really helpfull thats how i have got so far, plus im paper thick!.

by the 1st of april i will have 20k from existing isa maturity,(yorks bank)

10k for the 2 solo club accounts .

5 k to replace the 123 account used to fund the club joint.

5k beer money for now!!!!!!!!:)

ceredigion

Robotrobo: lets start again.


You have two club account's, so need four DD's.
you have two Tesco's saving account's, one of which is joint.
So you need to set up a DD from the joint savings account to both of your club LLoyds accounts.
Then you need to set up a DD from the solo savings account ( which I think is your wife's) to her club Lloyds account , your wife now has a club Lloyds account with 2 DD`s set up on it.
Now you need to set up a Tesco savings account in your name and a DD from that to your club Lloyds account .
To generate 4 direct debits you are going to need a minimum of 3 Tesco's savings accounts between the 2 of you , as the account names need to match ( or they do officially anyway).

robotrobo

ceredigion wrote: »

Robotrobo: lets start again.


You have two club account's, so need four DD's.
you have two Tesco's saving account's, one of which is joint.
So you need to set up a DD from the joint savings account to both of your club LLoyds accounts.
Then you need to set up a DD from the solo savings account ( which I think is your wife's) to her club Lloyds account , your wife now has a club Lloyds account with 2 DD`s set up on it.
Now you need to set up a Tesco savings account in your name and a DD from that to your club Lloyds account .
To generate 4 direct debits you are going to need a minimum of 3 Tesco's savings accounts between the 2 of you , as the account names need to match ( or they do officially

Yes two solo club accounts.
Yes 4 d d required
No , 2 Tesco current acc ,both in wife's name, 3k funded
Yes 2 internet savers (1joint)
Yes I need 2 d d for each new club accounts,
Yes I wii set up for my wife the d d from her solo account.

Why do I need a internet saver in my name?,can I not use the joint internet saver?


Why is it then I can have 6 or more dd coming out of my Santander



123 accounts?, or more,( I havent as I have used them)

And only 2 from each Tesco internet saver account?.
Sorry about the text I've done

SuperHan

robotrobo wrote: »

Why is it then I can have 6 or more dd coming out of my Santander

123 accounts?, or more,( I havent as I have used them)

And only 2 from Tesco?.
Sorry about the text I've done

Because Tesco are pulling the direct debits, unlike with Santander who were paying them.

What happens is Tesco take money from your Lloyds account. You can only set up one of these from each account.

Tesco will send money to as many people as you like, as will Lloyds, but that's not what you're trying to do here! You're using Tesco to fulfill the DD requirements of Lloyds.

robotrobo

Quote:
Originally Posted by robotrobo

Why is it then I can have 6 or more dd coming out of my Santander

123 accounts?, or more,( I havent as I have used them)

And only 2 from Tesco?.
Sorry about the text I've done
Because Tesco are pulling the direct debits, unlike with Santander who were paying them.

What happens is Tesco take money from your Lloyds account. You can only set up one of these from each account.

Tesco will send money to as many people as you like, as will Lloyds, but that's not what you're trying to do here! You're using Tesco to fulfill the DD requirements of Lloyds.

QUOTE,

So is the joint internet saver no good at all?
Are the current accounts no good for d/debits?,


You have done a very good explanation for me, let's hope I can get something going, soon

badger09

robotrobo wrote: »

So is the joint internet saver no good at all?
Are the current accounts no good for d/debits?,

AAARRRGGGHHH

As I said earlier, it is much clearer if you use the full name of each account!

One last time....
So is the joint internet saver no good at all? Yes it is fine but you can only use the Tesco joint Internet saver to pull (by DD) money from
a) your Lloyds Club account
b) your wife's Lloyds Club account

That gives you 1 of the 2 monthly DDs needed on each of your solo Lloyds Club accounts

Are the current accounts no good for d/debits?,
Not in the context we're discussing, which is purely to set up 2 monthly paying DDs to meet the T&C of the Lloyds Club accounts.

YorkshireBoy

robotrobo wrote: »

by the 1st of april i will have 20k from existing isa maturity,(yorks bank)

Why don't you see if they'll do you another 12 month fix? Should give you time to get your head round the Tesco DD setup!

On second thoughts...maybe a 2 year fix would be better?

Seriously, I think what you need is face to face contact with someone who'll hold your hand with it all. In the absence of that happening anytime soon, maybe a flow chart/line diagram (with accompanying notes) would help?...because the written word certainly isn't! Not volunteering, but maybe someone else might?

robotrobo

YorkshireBoy wrote: »

Why don't you see if they'll do you another 12 month fix? Should give you time to get your head round the Tesco DD setup!

On second thoughts...maybe a 2 year fix would be better?

Seriously, I think what you need is face to face contact with someone who'll hold your hand with it all. In the absence of that happening anytime soon, maybe a flow chart/line diagram (with accompanying notes) would help?...because the written word certainly isn't! Not volunteering, but maybe someone else might?

I don't blame you yorky,your quite right in every word you have said:),I do need someone to hold my hand on this one,my brain is fighting a losing battle at the moment.

I looked at my Tesco internetsaver applications and have realised that they are both in joint names ,so I have done it wrong from the start, I think because it was stated in previous posts that you can have as many as 6 or 8 direct debits coming out of your accounts at once as easily confused me,& that's easy:rotfl:.

If that's so , it's a bit unclear on how many new solo lnternetsavers I need to open.

The 2 joint that I have opened are my wife's name first & me second & the other way round for mine , so in other words we hold one joint account each.

Have you got the phone no of the Samaritans , so I can pass it around to all the posters trying to help me.
Thanks