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Can I downgrade Club Lloyds Silver Account to Classic Account if I have a Club Lloyds Monthly Saver?
sgog
Posts: 63 Forumite
I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)
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Comments
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The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)2 -
Does it also mean it will be possible to keep depositing £400/month?Ed-1 said:
The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)0 -
Hi @Ed-1 ...
... well that's worth knowing, it's not what I expected ... it would have changed my switch account decision which was to the silver account followed by monthly saver.Ed-1 said:
The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)
On the product info for the Club Lloyds Monthly Saver page it states:- It's only available to Club Lloyds current account holders who have not already opened one of these accounts in the last 12 months.
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Yes......sgog said:
Does it also mean it will be possible to keep depositing £400/month?Ed-1 said:
The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)0 -
So I can stop the £2000 monthly hokey-kokey and forego the rubbish film rental but keep the CL RS by downgrading the current account?Ed-1 said:
Yes......sgog said:
Does it also mean it will be possible to keep depositing £400/month?Ed-1 said:
The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)0 -
Indeed....flaneurs_lobster said:
So I can stop the £2000 monthly hokey-kokey and forego the rubbish film rental but keep the CL RS by downgrading the current account?Ed-1 said:
Yes......sgog said:
Does it also mean it will be possible to keep depositing £400/month?Ed-1 said:
The CL monthly saver remains unaffected. You only need to have a Club Lloyds current account to open the CL monthly saver, not to keep it.sgog said:I think the title summarises it, but I was wondering what happens if you try downgrading your Club Lloyds Silver Account to Classic Account while having a Club Lloyds Monthly Saver open?
Would it automatically close? Transform into a Monthly Saver account (paying 5.25% instead of 6.25%)? Stay as is? (With reducing the allowed monthly payment to £250 or keeping it at £400?)0
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