Club Lloyds Monthly Saver Question!

jessy-eve

Hey all, I recently opened a Club Lloyds monthly saver as I upgraded to the current account. I have a standing order set up for £400 a month. does anybody know if you are allowed to transfer a lump sum over into the account as well? or does this break 'the rules'. I have been looking at the terms and conditions, but cannot find an answer.


Any help is much appreciated.

Romburner

The max you can put in is £400 per calendar month. Anything more will be returned. If you put in 400 then withdrew 100 you still can not replace the withdrawn 100 as you have already used your 400 per month deposit amount.

So no, you can't add an additional lump sum.

eskbanker

jessy-eve wrote: »

I have been looking at the terms and conditions, but cannot find an answer

See the Important Information tab at http://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp, which includes:

DEPOSITS AND WITHDRAWALS
You can only pay money into the Account by your Standing Order.

Chaykin

Romburner wrote: »

The max you can put in is £400 per calendar month.

With Club Lloyds Monthly Saver it is 26th of previous month to 25th of the following month, not calendar month. See - http://www.lloydsbank.com/savings/club-lloyds-monthly-saver.asp

This standing order must reach your account by the 25th of each month for it to be counted as that month's payment.

So e.g. if you pay by SO on 28th of June it would be counted as July's payment etc.