I was sent a letter asking me to transfer my current account to Lloyds TSB in return for 70.
I am currently with Smile and 100% happy with their service. Is Lloyds TSB any good?. Any positive or negative comments?. My plan is to go back to Smile once their 5% interest period ends.
Lasitha
Can't comment on Lloyds, but there is no law against having more than one current a/c. I "transferred" to First Direct for a £50 incentive a while ago.
Serves them right for sending me junk mail 8^)
Ben
I have this 'plan', but thought the bank (FD or Lloyds) may be their right to cause a big fuss? For example, their terms probably state that their account should be the main etc. and by opening the account one must agree to those terms?
I'm just worried a bit that they may put something nasty on my credit file (fraud or something?).
Any thoughts?
Thanks, Tanuj.
I am pretty sure that to get the full 5% (GROSS) you have to put a minimum
2000 per month into the account and register and log onto Internet banking at least 3 times every quarter. The offer also only relates to balances up to 5000.There is nothing stopping you putting 2000 in by standing order from Smile and put it back in your account again next day or whenever but this will defeat the object of the exercise as you will not earn much interest by doing this. Eric
I was thinking more about the free £20 (or whatever) they give when you actually start the account.
T.
I looked at FD's T&Cs pretty closely. The only relevant thing was that they reserved the right to make an unspecified low-usage charge if the account balance fell below 1000 pounds or if my salary wasn't paid into it. Thay haven't chosen to do that yet. And I doubt it would be more than the freebie they gave me anyway. (There's been no money in the a/c for a year now. One day I will close it.)
If it were fraudulent they would be more likely to call the police. No, there's no danger of this, and I certainly wouldn't advocate anything that wasn't completely above-board.
Ben
Yes, I need to deposit min 2k per month to qualify for 5%. I think I'll open the account, transfer bills/DDs to Lloyds and return to Smile by end of the year. How smooth is the transfer process?. When I joined Smile back in 2000, I had to transfer everything manually. Lloyds tells me that they will do the transfer on my behalf.
Lasitha
unit which deals with all the paperwork for you. Eric
>Have something to add? Share your thoughts — no account required.
Ask the community — no account required