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“Go elsewhere!”

Written on: 22/02/2014

We opened a Young Savers Account with Lloyds TSB, now TSB 4 months ago for our toddler son. It took a while to do the paperwork, but the member of staff was helpful, telling us we'd receive our passbook int the post in a couple of weeks and told us which HMRC form to complete to get interest gross. 4 months later - no passbook. The staff now say there is no passbook or paying in book with the account. We've received nothing from them, not even a welcome letter, to confirm the account details. The staff say they are unable to organise annual statements. So how is this encouraging children to save exactly? The last straw is that interest is still being paid net, despite me having dropped the HMRC form into the branch just after the account was opened. AND the cashier described the account as dormant as we'd not paid anything into it since it opened. Shouldn't children's accounts allow for intermittent activities, and engage in some way via passbooks or similar? And why are they still charging tax? Aaargh, absolutely hopeless!

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