Club Lloyds Account

Lightning360

General_Grant said:

Lightning360 said:

Do you get any confirmation that you have met the £1500 requirement (I doubt you do, but just want to make sure).      Unlike Halifax tracker, Lloyds do not confirm having met this requirement.

I opened my Club Lloyds account today. I paid in £50 and then paid in £1450. I will transfer this out again in a few days. I assume this is everything I need to do until next month?  Yes, that's fine.  Multiple deposits to reach (or exceed) the requirement and no need to keep in the account.

see bold text

Thank you. I would prefer some sort of confirmation, but I can live without it considering if I mess up, it's only £3 a month. Still feels wrong depositing it and then withdrawing it around half an hour later but it clearly works and Lloyds clearly don't care.

jimjames

Lightning360 said:

For the Club Lloyds account, how long does the £1,500 have to stay in the account for in order to bypass to £3 monthly fee? Also, which of the Lifestyle Benefits would you say is the best?

Think about it a different way, how long does your bank specify that your wages need to stay in the account before you can spend them? I've had a magazine this year but will switch back to cinema tickets on renewal

It's actually got a very decent interest rate for an instant access account so mine is fully funded all the time

Lightning360

jimjames said:

Lightning360 said:

For the Club Lloyds account, how long does the £1,500 have to stay in the account for in order to bypass to £3 monthly fee? Also, which of the Lifestyle Benefits would you say is the best?

Think about it a different way, how long does your bank specify that your wages need to stay in the account before you can spend them? I've had a magazine this year but will switch back to cinema tickets on renewal

Good point. I went for the Rakuten TV rentals. I don't have any big cinema chains near me so whilst they would have been my first choice if I lived elsewhere, there was no point in getting them now. None of the magazines appealed to me so it had to be Rakuten TV rentals. 

Daliah

Lightning360 said:

General_Grant said:

Lightning360 said:

Do you get any confirmation that you have met the £1500 requirement (I doubt you do, but just want to make sure).      Unlike Halifax tracker, Lloyds do not confirm having met this requirement.

I opened my Club Lloyds account today. I paid in £50 and then paid in £1450. I will transfer this out again in a few days. I assume this is everything I need to do until next month?  Yes, that's fine.  Multiple deposits to reach (or exceed) the requirement and no need to keep in the account.

see bold text

Thank you. I would prefer some sort of confirmation, but I can live without it considering if I mess up, it's only £3 a month. Still feels wrong depositing it and then withdrawing it around half an hour later but it clearly works and Lloyds clearly don't care.

Your confirmation is in your transaction list.

The fact that £1,500 has gone in during the calendar month, in a single or in multiple transactions, is enough proof for the deposits made.

As it's a current account, it's not out of the ordinary that money that has just arrived will be spent immediately. Or, as has been commented above, it's not out of the ordinary that money that has gone out previously will be replaced instantly by an incoming transaction.

Lightning360

Although I am now sat on the phone with their fraud team as the payment from Lloyds was blocked. I'm guessing this won't happen as I start to use the account more?

Lightning360

The fraud team for some reason couldn't unblock the transaction and made me attempt the transaction another 2 times. It turns out that doing that has now blocked the transaction and my login details have been suspended. I like the app etc with Lloyds bank but this fraud system is a joke.

I've called again and apparently there are no flags on my account and they have no idea what is stopping it.

Just finished the 2nd call. It just seems to be an error with the system. Another team will have to manually do something to help it go through.

[Deleted User]

Lightning360 said:

The fraud team for some reason couldn't unblock the transaction and made me attempt the transaction another 2 times. It turns out that doing that has now blocked the transaction and my login details have been suspended. I like the app etc with Lloyds bank but this fraud system is a joke.

I've called again and apparently there are no flags on my account and they have no idea what is stopping it.

Just finished the 2nd call. It just seems to be an error with the system. Another team will have to manually do something to help it go through.

Exactly the same thing happened to me and nobody could explain why. I didn't do a lot with the account beyond paying the £1,500 in and out and a couple of direct debits to get the interest. Their system seems to be pretty sensitive.

Lightning360

Deleted_User said:

Lightning360 said:

The fraud team for some reason couldn't unblock the transaction and made me attempt the transaction another 2 times. It turns out that doing that has now blocked the transaction and my login details have been suspended. I like the app etc with Lloyds bank but this fraud system is a joke.

I've called again and apparently there are no flags on my account and they have no idea what is stopping it.

Just finished the 2nd call. It just seems to be an error with the system. Another team will have to manually do something to help it go through.

Exactly the same thing happened to me and nobody could explain why. I didn't do a lot with the account beyond paying the £1,500 in and out and a couple of direct debits to get the interest. Their system seems to be pretty sensitive.

I just hope it doesn't take too long for them to sort it out. I need to money in my Santander account in just under 2 weeks.

AlwaysLearnin

OP, just to highlight the £3 fee will be taken from the account at the beginning of the month (2nd working day from memory?), but then a credit is added on the same day if the relevant (funding) criteria was met.  Might save some angst if you notice the debit.

Also, as you've opted for rakuten, I've found this site pretty useful for finding films to use the voucher on:

https://www.justwatch.com/uk/provider/rakuten-tv/movies?max_price=5&monetization_types=rent

Lightning360

AlwaysLearnin said:

OP, just to highlight the £3 fee will be taken from the account at the beginning of the month (2nd working day from memory?), but then a credit is added on the same day if the relevant (funding) criteria was met.  Might save some angst if you notice the debit.

Also, as you've opted for rakuten, I've found this site pretty useful for finding films to use the voucher on:

https://www.justwatch.com/uk/provider/rakuten-tv/movies?max_price=5&monetization_types=rent

Thank you for the help and the link! I probably would have panicked a bit seeing the £3 get taken out.