Club Lloyds Monthly Saver

G_M

On a separate but related topic, I just opened this account, and the final web page gave me my new sort code/acount number and told me to set up a Standing Order from my Club Lloyds current account.

Prior to this, all the information just mentioned a SO. I rang customer services who confirmed because it is a CL account, the SO has to come from the CL current account.

However I then checked the T&Cs which simply say:

[FONT=Arial, Helvetica, sans-serif]1.4 You must set up a standing order to pay an amount of between £25 and £400 into the Account each calendar month it is open, You should arrange for the first of these payments to take place within 30 days of opening the Account. [/FONT]

My question: Does anyone here successfully fund their Club Lloyds monthly saver via Standing Order from another bank?

jennifernil

Yes, we are our 2nd year of these accounts, never been funded from our CL accounts.

Mine comes from Santander and OH's comes from BOS.

YorkshireBoy

If you have to fund the current account with £1,500 a month, why not fund to coincide with an SO from Club Lloyds? £1,500 in/£1,100 out. Genuine question as that's what I do.

TheShape

Fund my Club Llloyd's Monthly Saver by SO from Nationwide each month.

G_M

YorkshireBoy wrote: »

If you have to fund the current account with £1,500 a month, why not fund to coincide with an SO from Club Lloyds? £1,500 in/£1,100 out. Genuine question as that's what I do.

Could do but the £1500 does not come from the same place as the planned £400 for the saver. Would mean faffing around with a whole set of existing funding arrangements......

Glad to hear others are funding externally - I'll set up a SO from N/Wide and argue the toss if there's a problem.

Thanks all.

Gers

G_M wrote: »

On a separate but related topic, I just opened this account, and the final web page gave me my new sort code/acount number and told me to set up a Standing Order from my Club Lloyds current account.

Prior to this, all the information just mentioned a SO. I rang customer services who confirmed because it is a CL account, the SO has to come from the CL current account.

However I then checked the T&Cs which simply say:

[FONT=Arial, Helvetica, sans-serif]1.4 You must set up a standing order to pay an amount of between £25 and £400 into the Account each calendar month it is open, You should arrange for the first of these payments to take place within 30 days of opening the Account. [/FONT]

My question: Does anyone here successfully fund their Club Lloyds monthly saver via Standing Order from another bank?

Yes - mine comes from another Lloyds account. I had almost the same conversation with one Lloyds agent and queried it too, result, so it's worth pursuing.

LXdaddy

Again - my Club Lloyds Monthly Saver account is funded from my Santander 123 account.

jennifernil

G_M wrote: »

Could do but the £1500 does not come from the same place as the planned £400 for the saver. Would mean faffing around with a whole set of existing funding arrangements......

Glad to hear others are funding externally - I'll set up a SO from N/Wide and argue the toss if there's a problem.

Thanks all.

Same for us. Our £1500s are moved manually between accounts at a time that suits us, not by SO.