13 payments into Club Lloyds Monthly Saver

colsten

ColdIron said:

When I opened the TSB Monthly Saver at the end of March I recall that there was no option to make a transfer from the current account so you might want to be prepared to use an external account. But I agree with colsten, why cut it so fine? If you do it now there ought be time to set up a one off SO for the first payment if you don't want to make an external FP. I think this is an issue with TSB and not Lloyds

I dimly remember, too, that internal transfers to their RSs aren't possible everywhere. 

I am absolutely positive though that FPs from external accounts work just fine with TSB, Lloyds, Halifax and BOS, despite of the "must pay by SO" mentioned in places.

ColdIron

It's a quiet afternoon so I just checked. When I tried to do a transfer I was offered my second Classic Plus and an old Easy Saver, the Monthly Saver was not an option in the drop down

tel_

colsten said:

Setting everything up on Wednesday might be cutting it a bit fine for the SOs to start this Friday. It may or may not be enough time for the banks to set it all up. Why not go ahead straight away?

I took your valuable advise colsten and have set up both Lloyds Savers and a TSB one. Standing orders for all three are showing 1st May, so hopefully will count.

ColdIron you're right. TSB's current account does not display a direct set-up link from the current account to the saver account, but I'm guessing you could set it up for a one off FP deposit, if you so wish. Although, I have not done this yet.

ColdIron

tel_ said:

ColdIron you're right. TSB's current account does not display a direct set-up link from the current account to the saver account, but I'm guessing you could set it up for a one off FP deposit, if you so wish. Although, I have not done this yet.

I would get your initial £250 in before the end of the month so that next month you have £500 making 2% instead of only £250

tel_

colsten said:

I dimly remember, too, that internal transfers to their RSs aren't possible everywhere. 

I am absolutely positive though that FPs from external accounts work just fine with TSB, Lloyds, Halifax and BOS, despite of the "must pay by SO" mentioned in places.

ColdIron said:

tel_ said:

ColdIron you're right. TSB's current account does not display a direct set-up link from the current account to the saver account, but I'm guessing you could set it up for a one off FP deposit, if you so wish. Although, I have not done this yet.

I would get your initial £250 in before the end of the month so that next month you have £500 making 2% instead of only £250

I can now see why the FP option is the preferred/only possible way perhaps to get that first deposit in.

I will now do the same! 

De-Joolz

Can anyone tell me please, I opened a Lloyds monthly saver on 26th April and transferred in £250, does this count as May's payment as it was after the 25th of the month or can I pay in another payment in May before the 25th of the month?

ColdIron

It counts as April's payment and you can make another one from May 1st. The 25th requirement only applies to the standing orders which you can disregard as you want to make your subsequent payments at the start of the month to maximise your interest

De-Joolz

ColdIron said:

It counts as April's payment and you can make another one from May 1st. The 25th requirement only applies to the standing orders which you can disregard as you want to make your subsequent payments at the start of the month to maximise your interest

Thank you for clarifying, much appreciated !