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  • FIRST POST
    • quinquereme
    • By quinquereme 13th Apr 18, 9:29 PM
    • 2Posts
    • 37Thanks
    quinquereme
    Club Lloyds and BOS dropping rates to 1.5% on 1st July
    • #1
    • 13th Apr 18, 9:29 PM
    Club Lloyds and BOS dropping rates to 1.5% on 1st July 13th Apr 18 at 9:29 PM
    Just noticed this on Lloyds website:
    Please note: From the 1st July 2018, we will be changing the interest you can earn on Club Lloyds current accounts. The current interest rate of 2% AER/1.98% Gross variable, payable on balances between 1 and 5,000, will reduce to 1.5% AER/1.49% Gross variable. You will still need to pay at least two different Direct Debits each calendar month to earn interest.

    Checked BoS and same with Vantage:
    Please note: From the 1st July 2018, we will be changing the interest you can earn on Vantage accounts. The current interest rate of 2% AER/1.98% Gross variable, payable on balances between 1 and 5,000, will reduce to 1.5% AER/1.49% Gross variable. To earn interest, you will still need to pay at least two different Direct Debits each calendar month, pay at least 1,000 into your account during the calendar month, and stay in credit (above 0) during the monthly billing period.

    (Can't post links as a newbie.). Sad times.
Page 1
    • Herbalus
    • By Herbalus 13th Apr 18, 9:33 PM
    • 2,105 Posts
    • 1,741 Thanks
    Herbalus
    • #2
    • 13th Apr 18, 9:33 PM
    • #2
    • 13th Apr 18, 9:33 PM
    Looks true sadly. Its quite prominent on here. Top of page.

    https://www.lloydsbank.com/current-accounts.asp?WT.ac=Products/Navigation/CurrentAccounts
    • veryintrigued
    • By veryintrigued 13th Apr 18, 9:38 PM
    • 2,438 Posts
    • 1,899 Thanks
    veryintrigued
    • #3
    • 13th Apr 18, 9:38 PM
    • #3
    • 13th Apr 18, 9:38 PM
    B.ugger

    https://www.bankofscotland.co.uk/bankaccounts/vantage/
    • ffacoffipawb
    • By ffacoffipawb 13th Apr 18, 9:41 PM
    • 2,488 Posts
    • 1,641 Thanks
    ffacoffipawb
    • #4
    • 13th Apr 18, 9:41 PM
    • #4
    • 13th Apr 18, 9:41 PM
    Only worth keeping for the free cinema tickets really.
    • YorkshireBoy
    • By YorkshireBoy 13th Apr 18, 9:42 PM
    • 30,175 Posts
    • 18,067 Thanks
    YorkshireBoy
    • #5
    • 13th Apr 18, 9:42 PM
    • #5
    • 13th Apr 18, 9:42 PM
    Looks like some changes to packaged accounts too, with 2 per month increases along with a cut in some benefits.

    This has also been applied on Halifax Ultimate Reward which now costs 17 per month.

    Can't see anything about a cut in the Reward payment at Halifax.
    • Herbalus
    • By Herbalus 13th Apr 18, 9:45 PM
    • 2,105 Posts
    • 1,741 Thanks
    Herbalus
    • #6
    • 13th Apr 18, 9:45 PM
    • #6
    • 13th Apr 18, 9:45 PM
    Can Halifax reward go any lower?
    • EachPenny
    • By EachPenny 13th Apr 18, 9:46 PM
    • 6,107 Posts
    • 16,054 Thanks
    EachPenny
    • #7
    • 13th Apr 18, 9:46 PM
    • #7
    • 13th Apr 18, 9:46 PM
    B.ugger
    Originally posted by veryintrigued
    Double B.ugger.... just as rearranged DD's thanks to Tesco were about to kick in.
    "In the future, everyone will be rich for 15 minutes"
    • ffacoffipawb
    • By ffacoffipawb 13th Apr 18, 9:47 PM
    • 2,488 Posts
    • 1,641 Thanks
    ffacoffipawb
    • #8
    • 13th Apr 18, 9:47 PM
    • #8
    • 13th Apr 18, 9:47 PM
    Looks like some changes to packaged accounts too, with 2 per month increases along with a cut in some benefits.

    This has also been applied on Halifax Ultimate Reward which now costs 17 per month.

    Can't see anything about a cut in the Reward payment at Halifax.
    Originally posted by YorkshireBoy
    That was cut from 5 to 3 a few months ago, cant really cut it any further.

    Got my last 3 x 3 rewards this month, unable to replace the tesco direct debits and not worth transferring some real bills across as they earn a decent cashback with Child & Co Reward Account via RBS.
    • YorkshireBoy
    • By YorkshireBoy 13th Apr 18, 9:47 PM
    • 30,175 Posts
    • 18,067 Thanks
    YorkshireBoy
    • #9
    • 13th Apr 18, 9:47 PM
    • #9
    • 13th Apr 18, 9:47 PM
    B.ugger
    Originally posted by veryintrigued
    My thoughts too!

    I could put the 20K in my PO Online Saver (or Tesco for the same 1.30% rate...for the remainder of the bonus year) and only be the equivalent of 38 a year worse off. Maybe it's time to call it a day on these two providers. I haven't even been to the flix this lifestyle year either...and it's nearly up!
    • ffacoffipawb
    • By ffacoffipawb 13th Apr 18, 9:49 PM
    • 2,488 Posts
    • 1,641 Thanks
    ffacoffipawb
    My thoughts too!

    I could put the 20K in my PO Online Saver (or Tesco for the same 1.30% rate...for the remainder of the bonus year) and only be the equivalent of 38 a year worse off. Maybe it's time to call it a day on these two providers. I haven't even been to the flix this lifestyle year either...and it's nearly up!
    Originally posted by YorkshireBoy
    Mine are going into Premium Bonds. Nice and simple with everything in one account. Always the slim chance of a nice win. Only about 10% of my cash is in taxable accounts, will be close to zero after this. No cash ISA, just a S&S ISA.
    • YorkshireBoy
    • By YorkshireBoy 13th Apr 18, 9:51 PM
    • 30,175 Posts
    • 18,067 Thanks
    YorkshireBoy
    Can Halifax reward go any lower?
    Originally posted by Herbalus
    1 was out of the question...may as well have withdrawn the account. Could have gone to 2 I suppose.
    • ffacoffipawb
    • By ffacoffipawb 13th Apr 18, 9:52 PM
    • 2,488 Posts
    • 1,641 Thanks
    ffacoffipawb
    1 was out of the question...may as well have withdrawn the account. Could have gone to 2 I suppose.
    Originally posted by YorkshireBoy
    Barely worth the bother at 3 frankly.
    • YorkshireBoy
    • By YorkshireBoy 13th Apr 18, 9:54 PM
    • 30,175 Posts
    • 18,067 Thanks
    YorkshireBoy
    Got my last 3 x 3 rewards this month, unable to replace the tesco direct debits and not worth transferring some real bills across as they earn a decent cashback with Child & Co Reward Account via RBS.
    Originally posted by ffacoffipawb
    I was quite pleased I'd sorted it last year when I moved all mine to a couple of YBS accounts. One of these was only available until I redeem my mortgage in September 2019 though (Offset Savings Account), so the writing was on the wall for me anyway.
    • EachPenny
    • By EachPenny 13th Apr 18, 9:55 PM
    • 6,107 Posts
    • 16,054 Thanks
    EachPenny
    I could put the 20K in my PO Online Saver (or Tesco for the same 1.30% rate...for the remainder of the bonus year) and only be the equivalent of 38 a year worse off. Maybe it's time to call it a day on these two providers. I haven't even been to the flix this lifestyle year either...and it's nearly up!
    Originally posted by YorkshireBoy
    The Birmingham Midshires 1.45% makes things look even more marginal, at least for the remaining time that rate is available. Looks like I'll be keeping some cashback DD's on a 123 account after all.
    "In the future, everyone will be rich for 15 minutes"
    • YorkshireBoy
    • By YorkshireBoy 13th Apr 18, 9:56 PM
    • 30,175 Posts
    • 18,067 Thanks
    YorkshireBoy
    Barely worth the bother at 3 frankly.
    Originally posted by ffacoffipawb
    I have 4, and they've been fully automated for years. Well short of the 240 a year I was making prior to the drop (which paid for my week in the winter sun each year!), but no additional effort required so left them.
    • ffacoffipawb
    • By ffacoffipawb 13th Apr 18, 9:58 PM
    • 2,488 Posts
    • 1,641 Thanks
    ffacoffipawb
    I was quite pleased I'd sorted it last year when I moved all mine to a couple of YBS accounts. One of these was only available until I redeem my mortgage in September 2019 though (Offset Savings Account), so the writing was on the wall for me anyway.
    Originally posted by YorkshireBoy
    No complaints, nice while it lasted. Must have got over 1,000 in total over the 3 accounts, will need to check my spreadsheet. Will use them for switching I guess.

    Mothballng them in the meantime.

    With interest rates going up, Lloyds' reductions seem perverse.
    • skitskut
    • By skitskut 13th Apr 18, 10:23 PM
    • 174 Posts
    • 91 Thanks
    skitskut
    No complaints, nice while it lasted. Must have got over 1,000 in total over the 3 accounts, will need to check my spreadsheet. Will use them for switching I guess.

    Mothballng them in the meantime.

    With interest rates going up, Lloyds' reductions seem perverse.
    Originally posted by ffacoffipawb
    Me too. Makes me feel better about my decision to 'let go' of these accounts next month due to the Tesco dd cancellations!
    • Hattie625
    • By Hattie625 13th Apr 18, 10:27 PM
    • 763 Posts
    • 638 Thanks
    Hattie625
    Think I will keep my Club Lloyd's c/a and 3x BoS Classic Vantage. It's difficult to get 1.5pc on instant/easy access and I've got the required number of DDs working smoothly on the accounts. The monthly pay ins and outs take seconds. Plus there's the cinema tickets on the Club Lloyd's,,,,,and access to the 3pc Club Lloyd's RS on 400 pcm.
    • colsten
    • By colsten 13th Apr 18, 11:11 PM
    • 9,112 Posts
    • 7,943 Thanks
    colsten
    I'll be moving the 15K from my BOS accounts into the Nationwide Loyalty ISA @ 1.4%. May be also the Club Lloyds.
    • Frogletina
    • By Frogletina 13th Apr 18, 11:30 PM
    • 3,069 Posts
    • 11,111 Thanks
    Frogletina
    I was still short of one direct debit for one of my BOS accounts, so I think I will close that sooner rather than later once I have had my April interest paid.

    I have a 1.35% flexible ISA so I will put more money into that - possibly most of the money I have in my LLoyds and BOS accounts. I have already reduced the money in my Santander account and changed that to the Lite version.

    Already I am using the flexibility of my Isa, by transferring money from there each month to fund my regular savers, and then transferring the matured funds from them back to the Isa. If I keep just the taxable accounts earning 2% or more at their maximum, I should not exceed the personal tax amount (which I have been doing) and therefore will not have to pay extra tax for the tax year 2018/19. That will simplify things.

    frogletina

    Just looking on the bright side
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first

    SPC 8 #441 1567.31 SPC 9 #441 1014.64 SPC 10 #441 1164.13
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