Moving from LloydsTSB

dunstonh

Do remember that Halifax's clearing cycle is longer than Lloyds and they dont offer the same scale of banking operations that a traditional bank will have. Not a problem if you dont use those services but there is a lot to be said with sticking with a traditional bank.

kazzymac_2

No - it was something I was considering anyway to change from a monthly fee account - the £2 further increase (to £17per month) was just the push I needed to look around. I do have money sitting in the current account throughout the month (see earlier post) so thought I might as well earn more interest on it. Having said that maybe thats why I am nervous moving as they have looked after me well in the past but my DH is now a FT Uni student and £17 per month is a cost I could do with reducing.

Biggles

The 8.5% is only payable on the first £2,500. So, as you get 5.75% anyway on what you move to your LTSB internet saver, the maximum you could gain would be 2500 * 2.75% = £68pa (less tax, presumably).

But you'd save £180 immediately by moving to the Classic a/c; I'd be inclined to do that first (and open an internet saver if you haven't already).

It will buy you time at very little cost and keep things simple with your credit card and loan.

kazzymac_2

Thanks Biggles. I have had another look at the Classic account and think I will downgrade to that and keep the transfer to the A & L on hold for the time being. The classic plus account pays 4.25% on balances up to £2500 but has no monthly fee so I can just buy the breakdown cover/travel insurance seperately. Thanks for everyones input - much appreciated.

waddy80

You can also ask to be put on the classic plus account which pays 4.25% interest. No fee.

jonesMUFCforever

I was going to say (agree with Mable really) better the devil you know!

For every post on these forums praising A&L and Halifax you will find an equal number of disaster stories.

mrmajika

kazzymac wrote: »

Thanks Biggles. I have had another look at the Classic account and think I will downgrade to that and keep the transfer to the A & L on hold for the time being. The classic plus account pays 4.25% on balances up to £2500 but has no monthly fee so I can just buy the breakdown cover/travel insurance seperately. Thanks for everyones input - much appreciated.

Have a look at the Silver account which gives Breakdown cover, Mobile phone insurance and European travel insurance at £7.95 per month.

darich

I changed from TSB even though i was only being charged £10 for a special account. They effectively charged me £155 - no typo £155 - to send money to the US so i closed all my accounts there and moved to Nationwide.

What didn't help TSB was when i tried to phone them about my contents insurance. I spent almost 15mins trying to explain to some indian female that there was scaffolding at my block of flats because they were being refurbished. She kept asking my what structural changes was i making. No changes, just refurbishment. So what are you changing. etc etc for 15 mins.

I eventually hung up because i was getting no where.

With Nationwide i can phone the local branch - what a difference.

And Nationwide don't charge for transactions abrod on their cards.

Thomas_Crown

waddy80 wrote: »

You can also ask to be put on the classic plus account which pays 4.25% interest. No fee.

Well said waddy80, it must be the Classic Plus account to get 4.25% as the Classic account only pays 0.1% interest.

jonesMUFCforever

darich wrote: »

I changed from TSB even though i was only being charged £10 for a special account. They effectively charged me £155 - no typo £155 - to send money to the US so i closed all my accounts there and moved to Nationwide.

What didn't help TSB was when i tried to phone them about my contents insurance. I spent almost 15mins trying to explain to some indian female that there was scaffolding at my block of flats because they were being refurbished. She kept asking my what structural changes was i making. No changes, just refurbishment. So what are you changing. etc etc for 15 mins.

I eventually hung up because i was getting no where.

With Nationwide i can phone the local branch - what a difference.

And Nationwide don't charge for transactions abrod on their cards.

Please tell us more how did they charge you £155?