minimum payments to waive monthly account fee between Lloyds and TSB valid?

mark207

Good evening,

I have been following Martins advice and have been bouncing £1500 between my Lloyds and HSBC account for a while now to waive the monthly fee. I have recently signed up to TSB and closed my HSBC account for the better interest but am wondering since Lloyds and TSB were once linked companies, would the money count as an internal transfer between them and therefore the monthly fee might still get applied? (as would happen if I simply bounced £1500 between two Lloyd's accounts) I understand they are now separate companies but their IT software is identical. Has anyone had any known success with this?

Thanks

Mark

Ed-1

mark207 wrote: »

would the money count as an internal transfer between them and therefore the monthly fee might still get applied? (as would happen if I simply bounced £1500 between two Lloyd's accounts)

Internal transfers are perfectly fine to waive the Club Lloyds fee.

mark207

Great, thanks for your prompt response!

jennifernil

I am moving the £1500 between 2 Lloyds accounts, no problems.

Doctor_Duke

As others have said Lloyds allow internal transfers but even if that changed TSB would be external as they are not part of the Lloyds Banking Group and only use the same IT system until the new Spanish owners use their own system sometime late 2017/18.