Lloyds Bank Group Regular Saving Accounts

Barney1954

The Lloyds/Halifax/BoS Regular Savers all require funding by Standing Order, however the terms do not specify which account the SO should be paid from.
Does anyone fund any of these Regular Savers (and has been paid the correct interest) by SO from a non Lloyds Group Account?

Vortigern

Barney1954 wrote: »

The Lloyds/Halifax/BoS Regular Savers all require funding by Standing Order, however the terms do not specify which account the SO should be paid from.
Does anyone fund any of these Regular Savers (and has been paid the correct interest) by SO from a non Lloyds Group Account?

Yes, I've funded Lloyds from Tesco.

Also you can change the date of the SO as long as you make only one deposit per calendar month.

Barney1954

Thanks for the information, with the upcoming reduction in interest rates for these bank accounts, I'm considering funding all four of my LLoyds Group regular savers from one account. :T

surreysaver

Barney1954 wrote: »

Thanks for the information, with the upcoming reduction in interest rates for these bank accounts, I'm considering funding all four of my LLoyds Group regular savers from one account. :T

For the BoS Regular Saver and the Club Lloyds one, do you not need the relevant current accounts, even though the savers do not need to be funded from them?

Barney1954

The Lyoyds & BoS Regular Savers require the relevant bank account. Curiously, the Halifax Regular Saver does not appear to need a Halifax bank account

kidmugsy

Barney1954 wrote: »

Curiously, the Halifax Regular Saver does not appear to need a Halifax bank account

One of the many pearls of wisdom I learn here: mind you it pays only 2.5% p.a. and you can't withdraw money without closing it. But still, that's about twice what it's easy to get with savings accounts.

This interlude when the best way to save is with current accounts and regular savers: did anyone predict this oddity?

polymaff

kidmugsy wrote: »

This interlude when the best way to save is with current accounts and regular savers: did anyone predict this oddity?

Interlude? They'd have to be Methusaleh - at least regarding regular savings. Half a century ago there were SAYE accounts offering even better returns to regular savers.

Terry_Towelling

On the subject of needing an appropriate current account to keep the Lloyds regular savers, I asked Lloyds this very question when they announced they were dropping the current account interest rate.


They didn't seem sure initially but eventually the CS advisor said, I could close the current account completely and keep the regular savers but would no longer be permitted to pay into them. They would just have to sit there until maturity.


On balance, I decided to keep the current account and keep paying into both regular savers. When they mature Q3 this year I will review the situation and make a closure decision then.


As for the best regular saver I ever had, it came from Barclays a few years back and paid 12%!

planteria

are any of them paying rates that compete with HSBC/M&S/Nationwide?:think: