Bank of Scotland Vantage needs 2 dds

tomthered

I see your point, so you feed the BOS from T***O leave the money earning no interest but it keeps it over the £5k level. Not yet got my Tesco details but the BoS acct is working and have maxed the first out on 30 August and transferred £1000 in and then back again on 1 Sept to another account I have with RBS, that way its covered the pay in £1k rule. Would I now be able to open another BoS account or should I wait for a certain amount of time?


Not chasing the Tesco yet as not got my details through the post but had a text to say its approved. Will probably wait for that to be sorted before applying for the other accounts or can I do that now?


Thanks in advance people

Katiehound

oops- at cross purposes here! I thought you meant the DDs out! That's the point of the £1.01, £1.02

Money in- the £1K doesn't need to stay any longer than required, it can just "visit."
Well, I do mine by SO, so accounting for w/e s etc I tend to leave it for a max of 3 days and then it cycles off elsewhere. Other folk move theirs manually by faster payment. & yes of course it could go back to T saver for the rest of the month, or it could top up BOS no 2 or 3until near end of month,then RBS then back to T saver ready for journey off again at start of month.

If you have the money ie £3K to earn the best rate nothing to stop you opening a second now. But important that not only £1K going in but the 2 x DDs going out otherwise zero, zilch interest!

tomthered

Just waiting for Tesco now, is it the same length of time to open a second account or can you do it now even though not got the internet side set up as dont even know my account number yet

john1002

You can apply over the phone now for the Tesco but be aware it is like opening a new account so full credit and fraud checks and timescales that you will be used too with your first account.

No guarantee if you have a Tesco account you will get a second one.

Joh

tomthered

Another question guys. Is it better to set up a monthly DD to a T***O account from BoS, or can I set up an annual one to say a charity, thereby reducing the outgoings or does the money have to be taken or be active on the account? This is one point I am not sure of and do not want to jeopardize the interest earned.

Dobbibill

Annual DD won't work. It needs to be paid every month.

Taken from their website here

Qualifying for Vantage
It is straightforward, simply:
pay at least £1000 into your account each calendar month,
and stay in credit (above £0) during the monthly billing period,
and pay at least two different Direct Debits from your account each calendar month.

tomthered

thanks for the info Dobbibill

tomthered

Help guys - Just applied for a second BoS Classic account with Vantage but they said I could only have Basic. Could this be because I did not apply to open a second one from within my Internet Banking on my current one?

What should I do, phone up or wait a few days and apply from within the Internet banking account. I have quite a bit of savings I want to get interest on. Thanks in anticipation of the advice

10_66

tomthered wrote: »

Help guys - Just applied for a second BoS Classic account with Vantage but they said I could only have Basic. Could this be because I did not apply to open a second one from within my Internet Banking on my current one?

What should I do, phone up ...

From memory (I opened mine a long time ago) I think you have to phone up to open a second one.

Mannanan

I think a few of us had problems a few months back when opening further accounts. My first was no problem opening online. Then after logging in, it would not let me open a second and I had to phone up. They gave me the option to do it over the phone there and then or wait two hours for them to clear the block on me. They advised it was a common problem and was down to their own technical issues. As I was looking to open three accounts in total, I opted to wait and do it online. Sure enough, it then let me open a second and a third account no problem. Make sure when you try to open the further accounts online that you are NOT logged on. If you still can't open them, then try the option of logging on. If this all fails, it's back to the phone call. Eventually you should get all three accounts.