BoS Vantage account Interest?

David28

Katiehound said:

The only 'problem' if you want to call it this is that you need 2 x DDs for each account to qualify.  Better is Halifax Reward where the DDs no longer required (and you get a tad more cash)

I have a Halifax reward account and I need 2 direct debits to get my £2 reward.

fredar

In the last 12 months I got £52.03 in interest though in some months the balance fell below £5000 though that also includes interest at the old rates as well.

General_Grant

David28 said:

Katiehound said:

The only 'problem' if you want to call it this is that you need 2 x DDs for each account to qualify.  Better is Halifax Reward where the DDs no longer required (and you get a tad more cash)

I have a Halifax reward account and I need 2 direct debits to get my £2 reward.

Check the current t&c for that account for both the need for DDs and the amount of the "reward".  Do you mean you are paying Halifax £3 each month because you aren't paying in £1,500?

soulsaver

General_Grant said:

David28 said:

Katiehound said:

The only 'problem' if you want to call it this is that you need 2 x DDs for each account to qualify.  Better is Halifax Reward where the DDs no longer required (and you get a tad more cash)

I have a Halifax reward account and I need 2 direct debits to get my £2 reward.

Check the current t&c for that account for both the need for DDs and the amount of the "reward".  Do you mean you are paying Halifax £3 each month because you aren't paying in £1,500?

Or is it a BoS reward? Which still does need 2 DDs paid out to get £2 pm.
Halifax reward ceased November/December IIRC and went to Reward Extra requiring  other qualifiers but not.DDs .
eta spelling

WillPS

soulsaver said:

General_Grant said:

David28 said:

Katiehound said:

The only 'problem' if you want to call it this is that you need 2 x DDs for each account to qualify.  Better is Halifax Reward where the DDs no longer required (and you get a tad more cash)

I have a Halifax reward account and I need 2 direct debits to get my £2 reward.

Check the current t&c for that account for both the need for DDs and the amount of the "reward".  Do you mean you are paying Halifax £3 each month because you aren't paying in £1,500?

Or is it a BoS reward? Which still does need 2 DDs paid out to get £2 pm.
Halifax reward ceased November/Deceber IIRC and went to Reward Extra requiring  other qualifiers but not.DDs .

It was earlier than that, for most the changeover was June with the first 'Reward Extra' payment in July, I believe for those who had recently opened accounts this was held off until August.

But you're quite right, the Bank of Scotland reward account remains structured as before, with no fee (I'm not sure what the monthly payment is, I'd guess £2).

Katiehound

Well the BOS with Vantage might be a better bet (than BOS Reward) . Interest tiered as Club Lloyds- 2 xDDs & £1k payment pm. Interest last month was £3+

nottsphil

Katiehound said:

Well the BOS with Vantage might be a better bet (than BOS Reward) . Interest tiered as Club Lloyds- 2 xDDs & £1k payment pm. Interest last month was £3+

Even on £5K, BoS Vantage yields less than £14 extra interest p.a. over the best comparable instant access accounts (i.e. Marcus and Nationwide both at 0.5%). As Vantage and Reward both require 2 DDs, would you not be a tenner richer in a year by shifting your £5K to 0.5% on 1st March and converting your Vantage account to a Reward? 

soulsaver

nottsphil said:

Katiehound said:

Well the BOS with Vantage might be a better bet (than BOS Reward) . Interest tiered as Club Lloyds- 2 xDDs & £1k payment pm. Interest last month was £3+

Even on £5K, BOS Vantage yields just £14 extra interest p.a. over the best comparable instant access accounts (i.e. Marcus and Nationwide both at 0.5%). As Vantage and Reward both require 2 DDs, would you not be a tenner richer in a year by shifting your £5K to 0.5% on 1st March and converting your Vantage account to a Reward? 

Whilst I agree with your logic (similar issues debated on here a dozen times) I couldn't see any process offered now to either convert, upgrade or apply for a BoS Rewards ac.? 

PS Note I do already have a Halifax/BoS 'full house'

nottsphil

soulsaver said:

nottsphil said:

Katiehound said:

Well the BOS with Vantage might be a better bet (than BOS Reward) . Interest tiered as Club Lloyds- 2 xDDs & £1k payment pm. Interest last month was £3+

Even on £5K, BOS Vantage yields just £14 extra interest p.a. over the best comparable instant access accounts (i.e. Marcus and Nationwide both at 0.5%). As Vantage and Reward both require 2 DDs, would you not be a tenner richer in a year by shifting your £5K to 0.5% on 1st March and converting your Vantage account to a Reward? 

Whilst I agree with your logic (similar issues debated on here a dozen times) I couldn't see any process offered now to either convert, upgrade or apply for a BoS Rewards ac.? 

PS Note I do already have a Halifax/BoS 'full house'

On the app at least, go to your account and click More. Choose last option Change account type.

veryintrigued

nottsphil said:

soulsaver said:

nottsphil said:

Katiehound said:

Well the BOS with Vantage might be a better bet (than BOS Reward) . Interest tiered as Club Lloyds- 2 xDDs & £1k payment pm. Interest last month was £3+

Even on £5K, BOS Vantage yields just £14 extra interest p.a. over the best comparable instant access accounts (i.e. Marcus and Nationwide both at 0.5%). As Vantage and Reward both require 2 DDs, would you not be a tenner richer in a year by shifting your £5K to 0.5% on 1st March and converting your Vantage account to a Reward? 

Whilst I agree with your logic (similar issues debated on here a dozen times) I couldn't see any process offered now to either convert, upgrade or apply for a BoS Rewards ac.? 

PS Note I do already have a Halifax/BoS 'full house'

On the app at least, go to your account and click More. Choose last option Change account type.

No BOS reward option here for the three BOS vantage accounts I hold.

Only Classic, Vantage, Platinum with Vantage and Student options.

I've already got a Halifax Reward if that matters.