Noticed some changes? You can read all about the improvements we've made on the Forum in our latest announcement. We also have a new set of Forum rules so please take the time to give them a read and familiarise yourself.

Withdrawing £200+ from LTSB Online Saver or Monthly Saver first

edited 30 November -1 at 1:00AM in Savings & Investments
4 replies 586 views
talesstaless Forumite
244 Posts
edited 30 November -1 at 1:00AM in Savings & Investments

Was doing some financial planning for my months ahead. In the next month, I anticipate that I will need to dig into my savings accounts to cover some of the spend for that month.

I have a LTSB Classic Plus, Online Saver (5% AER) and Monthly Saver (8% AER). Online Saver requires a minimum balance of £250, otherwise it will fall to 0.10% AER. Please assume that I have slightly more than £250 for Online Saver.

If you were me, would you dig your £250 from the online saver, and hence bring it to about £1+, or would you dig it from the Monthly Saver account?

I am personally thinking that I would dig it from the Online Saver as it can be replaced very soon once I got the funds paid into my account. However, I am concerned - if LTSB staff sees that I only have £1+ in my Online Saver, will it be 'flagged' on their system and cause them to feel me as a more risky customer?

Thanks for your lovely input.


  • munkmunk Forumite
    993 Posts
    My ltsb online saver account has been at nil for a half year or so now since I moved my savings over to sainsbury's bank (who pay much better rates than lloyds online saver). They've not said anything as yet and I wouldn't expect them to.

    I would look for a better interest rate than ltsb's savings, it's not the worst but it's certainly far from the best! :)
  • maypolemaypole Forumite
    1.8K Posts
    Part of the Furniture Combo Breaker
    Online Saver. Wouldn't use the monthly saver.

    I have exactly the same set up as you. I use my online saver as part of my current account really, as you can do instant transactions between the two, I don't keep a massive amount in there, but enough to fund the current account should a massive bill need to be paid.

    I use sainsburys bank and Bradford and bingley for decent interest on my main savings though.
  • munkmunk Forumite
    993 Posts
    Yeah instant transfers is about the only good thing about the online saver... tis a pain waiting 3-4 days for transfers over to lloyds from sainsburys savings a/c.
  • MilarkyMilarky Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Photogenic
    If you pay at least £1000 a month into the Classic Plus you get 4.25% on whatever balance (£1 up to £2500) It's only an issue if you have more than £2500 in there at any one time (scarcely your problem)
    .....under construction....
This discussion has been closed.