Lloyds - removing vantage 3rd May

Xbigman

Just had a letter saying my account will no longer have Vantage as of the 3rd of May. The name 'Vantage' will be removed shortly after and it will just be a plain Classic account. I'm not bothered as the interest was pennies.

Anyone else had this?



Darren

MABLE

Xbigman wrote: »

Just had a letter saying my account will no longer have Vantage as of the 3rd of May. The name 'Vantage' will be removed shortly after and it will just be a plain Classic account. I'm not bothered as the interest was pennies.

Anyone else had this?



Darren

Yep. Received my letter today. I contacted Lloyds and they said it was not personal but a generic decision. I asked if I could have another Club account but I was informed only one sole Club account permitted.

stclair

I had my letter last week.

badger09

Already mentioned here

https://forums.moneysavingexpert.com/discussion/5420425

PeacefulWaters

Switch to BOS?

YorkshireBoy

PeacefulWaters wrote: »

Switch to BOS?

Must already have all the 2-5% paying current accounts if they were 'happy' with 1.5% AER?

Dizzee_Rebel

Gutted about this, intended to open 3 staggered over the next 18 months, but this news has messed all my plans up.

Already have:

123 - Maxed out
2*TSB's - Maxed out
Nationwide with £5k intended to switch to vantage next month
Barclays
Halifax
Club Lloyds

Burn't my bridges with Tesco last year so can't go down that route.

Single, so can't go down the joint account route.

Got £6k to spare at present, which will rise to around £10K-£11K over the next few months.

Looked into ISA's but not really fussed on locking it away, best I could find is 2.6% over 5 years.

Any ideas appreciated over my best options going forward.

Thanks.

YorkshireBoy

Dizzee_Rebel wrote: »

Gutted about this, intended to open 3 staggered over the next 18 months, but this news has messed all my plans up.

Already have:

123 - Maxed out
2*TSB's - Maxed out
Nationwide with £5k intended to switch to vantage next month
Barclays
Halifax
Club Lloyds

Burn't my bridges with Tesco last year so can't go down that route.

Single, so can't go down the joint account route.

Got £6k to spare at present, which will rise to around £10K-£11K over the next few months.

Looked into ISA's but not really fussed on locking it away, best I could find is 2.6% over 5 years.

Any ideas appreciated over my best options going forward.

Thanks.

If you like the sound of the Vantage account name, why not see if anyone else offers an account with the same name?

Dizzee_Rebel

Ahhh, thanks for nudging me in the right direction

Got them mixed up, thought they were one & the same.

Plan back on track.

After I switch to them next month, how long would you give before opening the other 2? & is it a god idea to? Seems they have a habit of closing accounts lately. Is it best to just have one, not be greedy & try to find somewhere else for the rest of the money?

badger09

Dizzee_Rebel wrote: »

Ahhh, thanks for nudging me in the right direction

Got them mixed up, thought they were one & the same.

Plan back on track.

After I switch to them next month, how long would you give before opening the other 2? & is it a god idea to? Seems they have a habit of closing accounts lately. Is it best to just have one, not be greedy & try to find somewhere else for the rest of the money?

BoS isn't offering any switching incentive, so why wait to open an account?

There have been lots of posts about the best way to open multiple accounts. Some have managed to open 3 online simultaneously, while others have been declined a second.

My personal experience is now over 3 years old. I opened 1st account online, used it like my 'main' current account for about 6 weeks, then successfully opened 2nd & 3rd. I use all of them several times a year for a variety of payments so there is some activity other than that required to meet the T&C and to skim off interest;)

Dizzee_Rebel

badger09 wrote: »

BoS isn't offering any switching incentive, so why wait to open an account?

There have been lots of posts about the best way to open multiple accounts. Some have managed to open 3 online simultaneously, while others have been declined a second.

My personal experience is now over 3 years old. I opened 1st account online, used it like my 'main' current account for about 6 weeks, then successfully opened 2nd & 3rd. I use all of them several times a year for a variety of payments so there is some activity other than that required to meet the T&C and to skim off interest;)

My last interest payment with Nationwide is next month & I thought if they see me switching an account, then maybe they might look upon me more favourabley when I attempt to open the other 2? (Just an idea)

Did you manage to open 2nd & 3rd online aswell? How long after opening the 2nd did you open 3rd?

I carry all my cards with me apart from Santander, rotating them everyday, always pay by card but carry £10 cash just in case. Contact-less is always shared between my 2 TSB's, Chip & Pin is rotated between the others.

And any larger payments throughout the year get shared equally to keep them all happy.