Quick question about minimum pay in to current account

Kme213

Hi, I hate to be the guy who sets up an account on a forum just to ask a question but if you could help that would be so great!

I'm looking to maximise the interest paid on my savings and I was thinking of opening a current account with Club Lloyds but as I'm working part-time I don't earn $1500 post tax & national insurance.

So my question is if I were to have it so that my income went directly into the account (e.g. £750) and then transferred through my other account(s) and back again (so that it would total as 2 x £750 paid into the Lloyds account per month) would that count as the required £1,500?

Thank you to anybody who decides to help me out with this

d70cw6

yes
khguguijjo

Anthorn

Kme213 wrote: »

Hi, I hate to be the guy who sets up an account on a forum just to ask a question but if you could help that would be so great!

I'm looking to maximise the interest paid on my savings and I was thinking of opening a current account with Club Lloyds but as I'm working part-time I don't earn $1500 post tax & national insurance.

So my question is if I were to have it so that my income went directly into the account (e.g. £750) and then transferred through my other account(s) and back again (so that it would total as 2 x £750 paid into the Lloyds account per month) would that count as the required £1,500?

Thank you to anybody who decides to help me out with this

That's the way many people keep up with minimum credit requirements. But don't do it between accounts both of which are in Lloyds Banking Group - they don't like it.

McKneff

Stick around, it can get quite interesting and you learn lots x

Kme213

Anthorn wrote: »

That's the way many people keep up with minimum credit requirements. But don't do it between accounts both of which are in Lloyds Banking Group - they don't like it.

thank you very much Anthorn for clarifying :beer:

Kme213

McKneff wrote: »

Stick around, it can get quite interesting and you learn lots x

hmm maybe I will as I'm sure I would! Thanks

Neil_Jones

Key phrase: "Must pay in £x a month". Doesn't have to stay there either.

Kme213

Neil_Jones wrote: »

Key phrase: "Must pay in £x a month". Doesn't have to stay there either.

yes I guess it just seems too good to be true, right? Well anyway I've managed to open an account with Lloyds and switch my existing current account over without even leaving my seat, amazing! :j thanks guys

molerat

I have £1000 that bounces through 9 different accounts and ends up back where it started around 15 minutes later whilst eating my breakfast on the 2nd working day of each month

Westie983

Anthorn wrote: »

That's the way many people keep up with minimum credit requirements. But don't do it between accounts both of which are in Lloyds Banking Group - they don't like it.

According to who?

I fund all of my accounts from my URCA including my reward accounts BOS, and both lloyds accounts, never had an issue, its the same 1k that goes round them all.

Anthorn

Westie983 wrote: »

According to who?

I fund all of my accounts from my URCA including my reward accounts BOS, and both lloyds accounts, never had an issue, its the same 1k that goes round them all.

There's always one isn't there. Rhetorical question, doesn't need a question mark.

Try searching these very forums and find those who were doing it between Lloyds Banking Group banks and had their accounts at Lloyds closed without reason, typically with 60 days notice. Best to be safe than sorry.

btw I'm not in any way, shape or form going to debate the point.