Your emptied Club Lloyds account still needs funding

Vortigern

Kernel_Sanders wrote: »

Thanks, I always thought BoS just had the same fee but didn't bother with the charged/refunded entries on their statements.

Now that you know there is no fee with BoS, you should edit the title of this thread to remove the reference to BoS.

EachPenny

YorkshireBoy wrote: »

Possibly this from the OP?......ie the Marcus rate falls or the Lloyds/BoS rates increase.

But isn't the point that there is nothing to gain from moving all your money to Marcus? Other than if you like to see an account with a large number of zeros on the balance, or if you need to re-jig DD's because they are costing you real money?

YorkshireBoy wrote: »

And of course it's entirely possible that BoS could stipulate one account per person for any new customers.

There is also a risk that the T&C's are changed so existing account holders are restricted to one only... in which case having three modestly active accounts might place you in a slightly better position than having three 'dormant' ones.

YorkshireBoy wrote: »

Having said that, I have done as you have suggested and kept my Lloyds & BoS accounts fairly full as they're to be used should there be a problem funding Santander Lite from Marcus ready to supply the regular savers on the 1st of the month. However, I was pleased to see my first large (just under £5K) Marcus -> Lite transfer happen almost instantaneously yesterday.

Good to know the transfers can be that fast... as usual the risk of IT failures is another reason to spread money around rather than keeping it all in one account.

Kernel_Sanders

I moved the funds out also to avoid hassles with DDs not being taken. I nearly lost a month's interest recently due to RBS Credit Cards writing off a monthly bill of 30-odd pence!

YorkshireBoy

Kernel_Sanders wrote: »

I moved the funds out also to avoid hassles with DDs not being taken. I nearly lost a month's interest recently due to RBS Credit Cards writing off a monthly bill of 30-odd pence!

There were (and maybe still are) people on here making nearly £12 a year per RBSG card using that loophole...paying off manually and deliberately leaving 99p on the account!