Lloyds monthly saver

Bridlington1

Hello,

I opened a Lloyds monthly saver back in November, when it paid 0.75% and a Club Lloyds regular saver in March at 1%. About a fortnight ago I renewed the monthly saver to an easy saver and closed the account as I have an easy access savings account that currently pays more than that. When I logged onto my online banking and went to the product selector it said that I could open a new Lloyds regular saver at 1.25%. I was under the impression that I could only open 1 monthly saver in any given 12 month period. Does anyone know if I were to proceed and open another monthly saver whether it would let me keep it and if so could I do the same thing with the Club Lloyds regular saver?

soulsaver

If it says you can, then go ahead and apply. 
Having said that, there are plenty RSs and easy access accounts paying a lot better than 1.25%:

Regular Savings Accounts: The Best Currently Available List! - Page 489 — MoneySavingExpert Forum


The Top Easy Access Savings Discussion Area - Page 601 — MoneySavingExpert Forum

Daliah

Slightly better link: https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list

Bridlington1

Many thanks for the above. At the moment I've got 10 regular savers already (excluding Lloyds), not including a H2B ISA so already have all of the top regular savers that I'm eligible for. I am gradually moving money from my easy access savings account with YBS at 1.33% into the regular savings accounts. I know Virgin money do an easy access account at 1.56% but I switched Virgin into RBS recently to get the £150 switching incentive and have decided to wait until I'm eligible for their switching offer before opening a new Virgin account. Any regular savers that are fixed rate I am closing and moving the contents into my easy access account as and when easy access rates increase to above the regular savers. As the Club Lloyds regular saver at 1.5% pays slightly more than my easy access account I've decided to add it to my collection as I've already got the current account for the free magazine. Apologies, I should have mentioned this when I started the post. I've just renewed my Club Lloyds monthly saver into an easy saver, closed that and opened a new Club Lloyds regular saver at 1.5%. I think I may have accidentally stumbled across a small loophole here.

kaMelo

Do you not already have the Virgin M saver? Switching the current account doesn't close the savings account.

Daliah

kaMelo said:

Do you not already have the Virgin M saver? Switching the current account doesn't close the savings account.

Possibly - - but to operate it (taking money out), you must have a VM current account. OP wants to avoid having one of these, in the hope of qualifying for another switch bonus at some stage in the future. 

kaMelo

Ya,  I hadn't thought of that.

adindas

If you start using Lloyds Mobile Banking Apps, do they stop you using the online banking ?or you could still use both?

PRAISETHESUN

adindas said:

If you start using Lloyds Mobile Banking Apps, do they stop you using the online banking ?or you could still use both?

Can use either online banking or the Lloyds app. Using one doesn't lock you out of the other.