Lloyds/Bank of Scotland/Halifax regular/monthly saver limits

Nick_C

Lloyds and Halifax seem to use the same IT system, and the user interface looks similar, but branch staff cannot service accounts for sister companies.  My nearest small town still has both a Lloyds and a Halifax.  Lloyds has been closed several times recently because of a leaking roof, but I couldn't pay into my Lloyds account at the Halifax.

I'm surprised that they haven't gone further in integrating branches.  There are certainly potential efficiencies there.

wmb194

Nick_C said:

Lloyds and Halifax seem to use the same IT system, and the user interface looks similar, but branch staff cannot service accounts for sister companies.  My nearest small town still has both a Lloyds and a Halifax.  Lloyds has been closed several times recently because of a leaking roof, but I couldn't pay into my Lloyds account at the Halifax.

I'm surprised that they haven't gone further in integrating branches.  There are certainly potential efficiencies there.

Yes. In my town there are also Lloyds and Halifax branches and the the Lloyds branch is large enough to fit the Halifax branch inside it! These days it always seems to be bereft of customers so there probably wouldn't be an issue to do it. 

There used to be a Cheltenham & Gloucester branch as well but it was closed and moved into the Lloyds branch with its own section and branding so it wouldn't be without precedent. However that brand seems to have disappeared now. (Lloyds has even more brands it could dredge up...)

redux

wmb194 said:

Nick_C said:

Lloyds and Halifax seem to use the same IT system, and the user interface looks similar, but branch staff cannot service accounts for sister companies.  My nearest small town still has both a Lloyds and a Halifax.  Lloyds has been closed several times recently because of a leaking roof, but I couldn't pay into my Lloyds account at the Halifax.

I'm surprised that they haven't gone further in integrating branches.  There are certainly potential efficiencies there.

Yes. In my town there are also Lloyds and Halifax branches and the the Lloyds branch is large enough to fit the Halifax branch inside it! These days it always seems to be bereft of customers so there probably wouldn't be an issue to do it. 

There used to be a Cheltenham & Gloucester branch as well but it was closed and moved into the Lloyds branch with its own section and branding so it wouldn't be without precedent. However that brand seems to have disappeared now. (Lloyds has even more brands it could dredge up...)

Same merge of space could probably happen here.

The former Cheltenham & Gloucester branch here became TSB when this demerged, and closed 2 or 3 years ago. 

ChewyyBacca

ForumUser7 said:

Expotter said:

Could anyone tell me please, whether these accounts have to be funded via standing order, or at least the first payment has to be via S.O? Or can they be funded via internal transfer from the start?

My first RSs in October with LBG, I did an external payment in. My second LBG RSs opened a couple of days ago, I did an internal transfer in. Both worked fine for me

In the conditions document for Regular Saver, it says SO from a Lloyds savings account is not possible. It doesn't mention that SO has to be from Llyods current account or not. The document is silent on that.
Is it desirable to have SO pay in from an external Current account?

EarthBoy

ChewyyBacca said:

ForumUser7 said:

Expotter said:

Could anyone tell me please, whether these accounts have to be funded via standing order, or at least the first payment has to be via S.O? Or can they be funded via internal transfer from the start?

My first RSs in October with LBG, I did an external payment in. My second LBG RSs opened a couple of days ago, I did an internal transfer in. Both worked fine for me

In the conditions document for Regular Saver, it says SO from a Lloyds savings account is not possible. It doesn't mention that SO has to be from Llyods current account or not. The document is silent on that.
Is it desirable to have SO pay in from an external Current account?

You can't set up Standing Orders from a Lloyds Savings accounts, but one-off transfers every month are perfectly possible, as are Standing Orders from external accounts.

ChewyyBacca

I'm planning to open Bank of Scotland Monthly saver for 3 months period only, as I will have expenses coming up.
I gather from this thread that I can open BoS Mon Saver, even though I do not hold Current Account with BoS. Hope they do not start enforcing their T&C about the current account. Just confirming, the loophole is still ON?

Another T&C on withdrawal:  Transfer out to only another BoS account.

Any success stories of transfer out in external bank accounts directly from BoS Mon Saver?

Not sure, if it's relevant, I hold Lloyd's Current account.

PloughmansLunch

ChewyyBacca said:

I'm planning to open Bank of Scotland Monthly saver for 3 months period only, as I will have expenses coming up.
I gather from this thread that I can open BoS Mon Saver, even though I do not hold Current Account with BoS. Hope they do not start enforcing their T&C about the current account. Just confirming, the loophole is still ON?

Another T&C on withdrawal:  Transfer out to only another BoS account.

Any success stories of transfer out in external bank accounts directly from BoS Mon Saver?

Not sure, if it's relevant, I hold Lloyd's Current account.

I’m given the option to transfer from the BoS monthly saver to BoS current account, Halifax current account, Halifax Regular saver, the useless Everyday saver and more relevantly an option to add new payee. I’ve not tried it but it may work?

aaj123

ChewyyBacca said:

I'm planning to open Bank of Scotland Monthly saver for 3 months period only, as I will have expenses coming up.
I gather from this thread that I can open BoS Mon Saver, even though I do not hold Current Account with BoS. Hope they do not start enforcing their T&C about the current account. Just confirming, the loophole is still ON?

Another T&C on withdrawal:  Transfer out to only another BoS account.

Any success stories of transfer out in external bank accounts directly from BoS Mon Saver?

Not sure, if it's relevant, I hold Lloyd's Current account.

I was able to open BoS monthly saver having neither a BoS nor a Halifax current account. 

ChewyyBacca

aaj123 said:

ChewyyBacca said:

I'm planning to open Bank of Scotland Monthly saver for 3 months period only, as I will have expenses coming up.
I gather from this thread that I can open BoS Mon Saver, even though I do not hold Current Account with BoS. Hope they do not start enforcing their T&C about the current account. Just confirming, the loophole is still ON?

Another T&C on withdrawal:  Transfer out to only another BoS account.

Any success stories of transfer out in external bank accounts directly from BoS Mon Saver?

Not sure, if it's relevant, I hold Lloyd's Current account.

I was able to open BoS monthly saver having neither a BoS nor a Halifax current account. 

Good to know.
How about transferring out from Monthly Saver? Since you do not hold either BoS or Halifax, the payee will have to be an external bank account.  Tried it ever?

I ask since I cannot take a chance of leaving £750+ in BoS saver without any transfer out option when I need money.

aaj123

ChewyyBacca said:

aaj123 said:

ChewyyBacca said:

I'm planning to open Bank of Scotland Monthly saver for 3 months period only, as I will have expenses coming up.
I gather from this thread that I can open BoS Mon Saver, even though I do not hold Current Account with BoS. Hope they do not start enforcing their T&C about the current account. Just confirming, the loophole is still ON?

Another T&C on withdrawal:  Transfer out to only another BoS account.

Any success stories of transfer out in external bank accounts directly from BoS Mon Saver?

Not sure, if it's relevant, I hold Lloyd's Current account.

I was able to open BoS monthly saver having neither a BoS nor a Halifax current account. 

Good to know.
How about transferring out from Monthly Saver? Since you do not hold either BoS or Halifax, the payee will have to be an external bank account.  Tried it ever?

I ask since I cannot take a chance of leaving £750+ in BoS saver without any transfer out option when I need money.

Just open a Halifax or BoS esaver for that. Better still a Halifax current account which will even give you £5 monthly reward for some easy conditions. I haven't tried transferring out yet.