Club Lloyds

Middle_of_the_Road

eskbanker said:

Alex9384 said:

Can someone tell me how often is the interest paid into Club Lloyds account?
I'm new to Lloyds, I transferred nearly 5k into the account in December and have 2 direct debits on it (I hope PayPal DDs count too) but haven't received any interest payment yet.

"Having" two DDs isn't sufficient, you need to pay two separate DDs each month.

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.html has the answers to these and other questions:

What do I have to do to earn the credit interest?

You need to pay at least two separate Direct Debits from your Club Lloyds current account each calendar month.

Please note, qualifying Direct Debits must come out monthly, quarterly Direct Debits are not eligible. Also Standing Orders do not qualify.

[...]

When is the credit interest paid?

If you earn the credit interest, it will be paid into your Club Lloyds current account by the second working day of the following calendar month.

If you do not earn the credit interest, you won't receive payment the following calendar month.

If I miss out on the credit interest one month, can I earn it the next month?

Yes, if in any month you miss out on the credit interest, you can still earn it in future months. Just make sure you pay out two separate Direct Debits in the next calendar month.

I opened a Club Lloyds account last December to enable opening a club monthly saver. As there are no direct debits attached to the account, I was surprised to receive interest payments in January and February. 

Nothing yet this month, but the £3 fee debit and waive entries not showing yet.
Will update if this continues or otherwise.

molerat

Middle_of_the_Road said:

eskbanker said:

Alex9384 said:

Can someone tell me how often is the interest paid into Club Lloyds account?
I'm new to Lloyds, I transferred nearly 5k into the account in December and have 2 direct debits on it (I hope PayPal DDs count too) but haven't received any interest payment yet.

"Having" two DDs isn't sufficient, you need to pay two separate DDs each month.

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.html has the answers to these and other questions:

What do I have to do to earn the credit interest?

You need to pay at least two separate Direct Debits from your Club Lloyds current account each calendar month.

Please note, qualifying Direct Debits must come out monthly, quarterly Direct Debits are not eligible. Also Standing Orders do not qualify.

[...]

When is the credit interest paid?

If you earn the credit interest, it will be paid into your Club Lloyds current account by the second working day of the following calendar month.

If you do not earn the credit interest, you won't receive payment the following calendar month.

If I miss out on the credit interest one month, can I earn it the next month?

Yes, if in any month you miss out on the credit interest, you can still earn it in future months. Just make sure you pay out two separate Direct Debits in the next calendar month.

I opened a Club Lloyds account last December to enable opening a club monthly saver. As there are no direct debits attached to the account, I was surprised to receive interest payments in January and February. 

Nothing yet this month, but the £3 fee debit and waive entries not showing yet.
Will update if this continues or otherwise.

Quite often these accounts give a bit of leeway to allow you to get things set up.  Interest should have been credited this morning so looks like your leeway may have expired.

Middle_of_the_Road

molerat said:

Middle_of_the_Road said:

eskbanker said:

Alex9384 said:

Can someone tell me how often is the interest paid into Club Lloyds account?
I'm new to Lloyds, I transferred nearly 5k into the account in December and have 2 direct debits on it (I hope PayPal DDs count too) but haven't received any interest payment yet.

"Having" two DDs isn't sufficient, you need to pay two separate DDs each month.

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.html has the answers to these and other questions:

What do I have to do to earn the credit interest?

You need to pay at least two separate Direct Debits from your Club Lloyds current account each calendar month.

Please note, qualifying Direct Debits must come out monthly, quarterly Direct Debits are not eligible. Also Standing Orders do not qualify.

[...]

When is the credit interest paid?

If you earn the credit interest, it will be paid into your Club Lloyds current account by the second working day of the following calendar month.

If you do not earn the credit interest, you won't receive payment the following calendar month.

If I miss out on the credit interest one month, can I earn it the next month?

Yes, if in any month you miss out on the credit interest, you can still earn it in future months. Just make sure you pay out two separate Direct Debits in the next calendar month.

I opened a Club Lloyds account last December to enable opening a club monthly saver. As there are no direct debits attached to the account, I was surprised to receive interest payments in January and February. 

Nothing yet this month, but the £3 fee debit and waive entries not showing yet.
Will update if this continues or otherwise.

Quite often these accounts give a bit of leeway to allow you to get things set up.  Interest should have been credited this morning so looks like your leeway may have expired.

Thanks that would make sense, and I think it is the case now.