Q for Lloyds Bank Rep and any MSE members that opened a new Club Lloyds Monthly Saver

skitskut

I'm under the assumption that the limiting of interest to the first £4800 came into effect 19th May.

drlabman

My first Club Lloyds Monthly Saver has just matured so I went online to open a new one. It worked up to a point, but when I did the "click here to tell us how you want to fund your account", it complained that online banking was temporarily unavailable. This was clearly rubbish, beacuse I was able to login again immediately. Now I have a new Club Lloyds Monthly Saver showing up in my list of accounts, but when I try to set up a SO from my Club Lloyds account to fund it, the new account doesn't show up as a payee. Maybe I need to wait a couple of days. Anyone else had this?

noh

drlabman wrote: »

My first Club Lloyds Monthly Saver has just matured so I went online to open a new one. It worked up to a point, but when I did the "click here to tell us how you want to fund your account", it complained that online banking was temporarily unavailable. This was clearly rubbish, beacuse I was able to login again immediately. Now I have a new Club Lloyds Monthly Saver showing up in my list of accounts, but when I try to set up a SO from my Club Lloyds account to fund it, the new account doesn't show up as a payee. Maybe I need to wait a couple of days. Anyone else had this?

That's normal as far as I remember.
Just set up a standing order from your current account to the new Monthly saver using the sort code and account number of the new account rather than the list.

Ed-1

drlabman wrote: »

My first Club Lloyds Monthly Saver has just matured so I went online to open a new one. It worked up to a point, but when I did the "click here to tell us how you want to fund your account", it complained that online banking was temporarily unavailable. This was clearly rubbish, beacuse I was able to login again immediately. Now I have a new Club Lloyds Monthly Saver showing up in my list of accounts, but when I try to set up a SO from my Club Lloyds account to fund it, the new account doesn't show up as a payee. Maybe I need to wait a couple of days. Anyone else had this?

The account needs to be funded as if it were an external account. It doesn't show up in the list of internal accounts to transfer into so you need to use the sort code and account number and set up a standing order to it as if it were an account elsewhere.

drlabman

Thanks folks. Now that you mention it, I vaguely remember having to do this last time. Strange how the link to "tell us how you want to fund it" didn't work though.

typistretired

Thanks Ed-1 I came on here as my monthly saver matured and it didn't allow the option to fund the new monthly saver on application will log in again and follow your instructions. Just set up a new regular monthly saver for first direct and the funding details were part of the application. Lloyds should take note.

HHarry

Just a quick note for anyone renweing their Monthly Saver.

At maturity I received £75 interest - I assume this is because I opened the account on the 1st July, but then funded on the 22nd each month; in effect losing 3 weeks of potential interest each month.

So get your accounts opened, and money in ASAP!

saintalan

HHarry, not sure you will have lost any interest. You will have received interest on the daily balance at the AER%.

Biggles

saintalan wrote: »

HHarry, not sure you will have lost any interest. You will have received interest on the daily balance at the AER%.

He means he would have earned more if he'd had more money in the account for longer.....

saintalan

Biggles wrote: »

He means he would have earned more if he'd had more money in the account for longer.....

Haven't you (effectively) just said the same thing?

Presumably he chose the SO date?