Bank of Scotland Vantage - purpose of account?

wallofbeans

Hello All,

I'm just about to open a BOS Vantage account and will be using it as a savings account really but should I put that under the 'purpose of account' question? Or something else...

YorkshireBoy

I wouldn't put savings, although others on here claim to have.

Of the options on their site I'd go for bills and expenses (and "salary/pension/other regular income" if more than one account was being sought).

Futuristic

I put savings went through fine, didn't work too well with HSBC though. Didn't bother to call back to ask why I was declined however.

wallofbeans

I'll go for 'bills and expenses' to be safe.

When does the 'vantage' option appear?

YorkshireBoy

wallofbeans wrote: »

When does the 'vantage' option appear?

From their website (surprisingly!)...

BoS wrote:

Apply for a Classic Account and add Vantage during your application


http://www.bankofscotland.co.uk/bankaccounts/vantage/

KJSmith

The question is asked for the purposes of their Know Your Customer (KYC) and anti-money laundering (AML) requirements. Selecting "savings" as opposed to any of the other options won't affect whether your application is declined.
So yes, if you're using the account for savings then you should select that as the purpose.

Archi_Bald

Come on people, apply a bit of common sense. If you apply for a current account, you only say you want the account for savings if you want to challenge the bank to turn you, or future applicants, down. Why take that risk when what you really want the account for is earn some extra to pay your bills?;)

Archi_Bald

KJSmith wrote: »

The question is asked for the purposes of their Know Your Customer (KYC) and anti-money laundering (AML) requirements. Selecting "savings" as opposed to any of the other options won't affect whether your application is declined.
So yes, if you're using the account for savings then you should select that as the purpose.

If the question doesn't affect the application, or applications from others in the future, why would it be asked?

For example, if 50%+ (or may be a lot fewer) of a bank's applicants say they want a current account for savings, do you really think the bank would say alright, phew they aren't money launderers and we also love all those customers who apply for unprofitable accounts.

wallofbeans

YorkshireBoy wrote: »

From their website (surprisingly!)...

I read that but got all the way through it and to a 'confirm' button and only then when it says you can have it, does it ask if you want vantage. So in actual fact it's just after your application has been approved.

So kinda what you said but it is also a little bit--
"Wait a minute, 'confirm' already? Did a miss the Vantage thing? Damn it, I'd better go back and check. Nope didn't miss it. Damn it though, I now have to fill in all those forms again. OK, so it wasn't where it seemed it should be so maybe it's after the 'confirm'. Shall I risk it? OK, I will. Phew, there it is."

colsten

As it says on the BoS website, you can add Vantage to a Classic, Silver, Platinum, Gold or Premier Account.

By inference, unless you first have gone through a Classic, Silver, Platinum, Gold or Premier Account application, you cannot add Vantage.

It's not that hard, really.

wallofbeans

colsten wrote: »

As it says on the BoS website, you can add Vantage to a Classic, Silver, Platinum, Gold or Premier Account.

By inference, unless you first have gone through a Classic, Silver, Platinum, Gold or Premier Account application, you cannot add Vantage.

It's not that hard, really.

I know what you mean but I thought I had gone through the application process (ie filled in all the forms) and that before I confirmed it would ask whether I wanted vantage or not. It turns out that's after confirm. That's it.

You're right, it's not that hard. But it could be confusing. And now it's been cleared up, others need not be confused. Hurrah.

Thanks all!