LLoyds Vantage change in terms and conditions

Steve_xx

Mee wrote: »

I am such a dunce - I just discovered this myself, but I am confused as to why I received no interest on months when I had two DDs.

You need to deposit 1k per month into it to earn interest, and no interest is earned on sub 1k balances. Does that explain it?

colsten

And you need to stay in credit throughout the month.

Also, the DDs must actually pay out each month.

http://www.lloydsbank.com/current-accounts/changes-to-vantage.asp

G_M

Steve_xx wrote: »

.....The only other easy access deposit account with that rate, as far as I know, is the Birmingham Midshires account. And that drops to just 0.5% after a year.

Kent Reliance BS

High Balance issue 2 = 1.55%
Easy Access issue 10 = 1.65%

No bonus rates.

Just discovered KRBS is not a Building Society as I thought but part of some wierd bank: http://www.osb.co.uk/

Related to change in Lloyds Vantage, worth noting that TSB Enhance accounts rates are dropping on 3/11/15 from 1.5% to 0.75%.

TSB Plus is unchanged at 5%

Steve_xx

G_M wrote: »

Kent Reliance BS

High Balance issue 2 = 1.55%
Easy Access issue 10 = 1.65%

No bonus rates.

Just discovered KRBS is not a Building Society as I thought but part of some wierd bank: http://www.osb.co.uk/

Related to change in Lloyds Vantage, worth noting that TSB Enhance accounts rates are dropping on 3/11/15 from 1.5% to 0.75%.

TSB Plus is unchanged at 5%

I'm not sure if either of those was available when I made the post on 13 July.

colsten

G_M wrote: »

Kent Reliance BS

High Balance issue 2 = 1.55%
Easy Access issue 10 = 1.65%

No bonus rates.

Just discovered KRBS is not a Building Society as I thought but part of some wierd bank: http://www.osb.co.uk/

KRBS rates are top for "instant access" right now, and they also do great Regular Saver if you have access to one of their Branches.

I put instant access in quotes as it isn't anything like the instant access we all got accustomed to since FP got introduced.

KRBS still use ancient processes

• no FPs
• payments only processed on working days.
• deposits by debit card seem to take at least 3 working days. Deposits by bank transfer seem to take at least 2 working days.
• instructions must be received by midday, else they will be processed on the next working day
• not sure whether internal transfers are instant - - it appears that a real person in an office somewhere needs to make the transfer
• withdrawals are to a linked current account only, and they go only via BACS. KRBS don't offer current accounts, so it's got to be a current account with another bank, and KRBS take three working days to get your cash into the current account.

Having said all this, the KRBS 1.65% instant access account is the best instant access account around right now, and the reason that I know all of the above is that I have put some of my cash in there over the last week.

colsten

Steve_xx wrote: »

I'm not sure if either of those was available when I made the post on 13 July.

I think you are right. Certainly the instant access issue 10 only became available end of last week. I can't find the KRBS High Balance account G_M mentions but 1.55% seems academic if you can get 1.65%.

Mee

Thanks, but I have always met the min.payments in amount. Discussed in person today - it seems LB picked up on the fact that my DDs had the same reference (a change made in error a few months ago). Problem solved and LB said they will honour the interest...:o

badger09

Mee wrote: »

Thanks, but I have always met the min.payments in amount. Discussed in person today - it seems LB picked up on the fact that my DDs had the same reference (a change made in error a few months ago). Problem solved and LB said they will honour the interest...:o

Was this 2 DDs to the same Tesco savings account?

G_M

colsten wrote: »

I think you are right. Certainly the instant access issue 10 only became available end of last week. I can't find the KRBS High Balance account G_M mentions but 1.55% seems academic if you can get 1.65%.

The High Balance was available last week when I opened it. The next day the Easy Access appeared - to my annoyance.

However I've just opened an Easy Access online (3 minutes) and it appeared instantly on my internet banking. Did an internal funds transfer (all but the minimum £1) (out of office hours) which will be actioned tomorrow.....

To close the High Balance I have to send a secure message and get the £1 (+ interest) sent to my linked bank account.

Bit annoyed to hear they use 3 days BACS - I forgot to check before starting.......

G_M

colsten wrote: »

KRBS still use ancient processes

• no FPs
• payments only processed on working days.
• deposits by debit card seem to take at least 3 working days. Deposits by bank transfer seem to take at least 2 working days.
• instructions must be received by midday, else they will be processed on the next working day
• not sure whether internal transfers are instant - - it appears that a real person in an office somewhere needs to make the transfer
• withdrawals are to a linked current account only, and they go only via BACS. KRBS don't offer current accounts, so it's got to be a current account with another bank, and KRBS take three working days to get your cash into the current account.

Just received confirmation as follows:

Thank you for contacting us regarding your Kent Reliance account.

Online withdrawals to your nominated bank account is done by faster payment.

If the withdrawal is initiated before 12 PM on a working day, the funds would reflect in your account by the end of next business day. If the withdrawal is initiated after 12 PM then the funds would reflect by the end of second business day.
Note: If the withdrawal amount is more than £100000.00 it would take 2 extra working days for the funds to reflect in your bank account.
Any request placed on a non-working day will be processed the next working day.