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  • FIRST POST
    • youngretired
    • By youngretired 17th Apr 18, 6:39 PM
    • 197Posts
    • 111Thanks
    youngretired
    LBG Regular/Monthly Savers
    • #1
    • 17th Apr 18, 6:39 PM
    LBG Regular/Monthly Savers 17th Apr 18 at 6:39 PM
    I've opened each savings account for Halifax, BOS, Lloyds and already had a Club Lloyds one. When I've opened my Club Lloyds I've always just set it up monthly by STO for the following day (beginning of month) but when I opened each of the above I opened them mid month and so set my STO up 1st monthly and paid the initial deposit by transfer straight away.

    I've just read in the small print that the 1st payment is supposed to be by a STO (I know I should have checked but I have never had any issues before). I have had a chat via facebook with all 3 and they have come back saying that the account normally shouldn't accept a payment by transfer only STO so if the payment was accepted then should all be OK as long as all the other payments are by STO (which they are).

    Has anyone else made the 1st payment by transfer and received their interest OK?

    For those that don't know STO is short for standing order.
Page 1
    • YorkshireBoy
    • By YorkshireBoy 17th Apr 18, 6:54 PM
    • 30,152 Posts
    • 18,004 Thanks
    YorkshireBoy
    • #2
    • 17th Apr 18, 6:54 PM
    • #2
    • 17th Apr 18, 6:54 PM
    Has anyone else made the 1st payment by transfer and received their interest OK?
    Originally posted by youngretired
    With every one I've opened with Halifax, Bos, & both Lloyds', yes. I seem to remember the application process for all invites you to fund by transfer at the end.
    • Westie983
    • By Westie983 17th Apr 18, 7:57 PM
    • 4,335 Posts
    • 14,893 Thanks
    Westie983
    • #3
    • 17th Apr 18, 7:57 PM
    • #3
    • 17th Apr 18, 7:57 PM
    It will be fine.

    When you open these accounts it asks you how you are going to make the first payment, transfer from internal/external account or if you are going to fund by standing order.

    All other payments into the account is via SO.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • ColdIron
    • By ColdIron 17th Apr 18, 8:07 PM
    • 4,161 Posts
    • 5,247 Thanks
    ColdIron
    • #4
    • 17th Apr 18, 8:07 PM
    • #4
    • 17th Apr 18, 8:07 PM
    I always make an internal transfer for my first payment and then set up a standing order for the first of the following 12 months
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