Club Lloyds query

pete_l

Hi
I'm thinking of opening a Club Lloyds account as a secondary account to the Santander 123 mainly for the in credit interest. I have a couple of queries about the account.
1. Does the £1500 monthly pay in have to be made in one payment or can it be made with 2 £750 payments from the 123 account?
2. As the 123 account gives cashback on my direct debits I'd rather not switch any of those to Lloyds. Is it ok to set up 2 direct debits to two charities for example after opening the Lloyds account or is there restrictions on who the direct debits need to be paid too?
Thanks
Peter

Archi_Bald

The answers to your Qs are all in the T&Cs. In short,

• there are no terms that demand a single monthly deposit of £1,500
• there are no terms that restrict the recipients of the DDs

http://www.lloydsbank.com/assets/media/pdfs/current-accounts/clublloyds_terms%20and%20conditions.pdf

MDMD

You might want to consider the TSB and Nationwide accounts first as they have no DD requirements and pay 5%

pete_l

Thanks MDMD but I've already got a TSB and Nationwide setup but I think Nationwide was only a 12 month bonus so need to look at changing soon and Lloyds looked next best.

Kendall80

The £1500 can be split up however many ways you like. (2x750 here)


You can setup 2 tesco internet saver accounts and have the DDs go direct to those if you prefer. I have 2x 50p going out on the 17th of each month.

moneysavinggirl40

Kendall80 wrote: »

The £1500 can be split up however many ways you like. (2x750 here)


You can setup 2 tesco internet saver accounts and have the DDs go direct to those if you prefer. I have 2x 50p going out on the 17th of each month.

Ahh so when Lloyds stipulate must pay 2 different dd it's absolutely fine to have dd going to same account holder, i too am thinking of setting x2 dd to my tesco saving accounts. To clarify, will x2 dd to the internet and instant access saver be fine to qualify credit interest from Lloyds?

YorkshireBoy

moneysavinggirl40 wrote: »

Ahh so when Lloyds stipulate must pay 2 different dd it's absolutely fine to have dd going to same account holder, i too am thinking of setting x2 dd to my tesco saving accounts. To clarify, will x2 dd to the internet and instant access saver be fine to qualify credit interest from Lloyds?

Yes............

HardSpend

Kendall80 wrote: »

The £1500 can be split up however many ways you like. (2x750 here)


You can setup 2 tesco internet saver accounts and have the DDs go direct to those if you prefer. I have 2x 50p going out on the 17th of each month.

Is this working for you? I have two tesco internet saver accounts and I did not get any interest payment for November and nothing for December either but perhaps too early for that.

Not sure what I am doing wrong. I transferred in (and then out again) £1500 and had £5k in the account the whole month.

:wall:

edit: I only have one Tesco account!!

Dobbibill

HardSpend wrote: »

Is this working for you? I have two tesco internet saver accounts and I did not get any interest payment for November and nothing for December either but perhaps too early for that.

Not sure what I am doing wrong. I transferred in (and then out again) £1500 and had £5k in the account the whole month.

:wall:

Check on your list of DD's with Lloyds to make sure it is 2 DD mandates. One mandate that goes twice will not work.

YorkshireBoy

HardSpend wrote: »

Is this working for you? I have two tesco internet saver accounts and I did not get any interest payment for November and nothing for December either but perhaps too early for that.

Not sure what I am doing wrong. I transferred in (and then out again) £1500 and had £5k in the account the whole month.

:wall:

Did your Internet Savers each pull a DD from Lloyds during (the calendar month of) November?

And what was the date of your £1,500 credit?


December's interest is due tomorrow night/Tuesday morning.

HardSpend

Dobbibill wrote: »

Check on your list of DD's with Lloyds to make sure it is 2 DD mandates. One mandate that goes twice will not work.

when I go to the direct debit section on the Lloyds website it only DD showing as being setup for £2.50

I'm not sure how I create two, I have two DD payments each month (one for £1.50 and one for £2.50 on the same day). What did I do wrong?

edit: I only have 1 Tesco account!! I guess this is the problem?