Lloyds TSB Young Savers Account Review

Click here if this is your business
★★☆☆☆
1.6 / 5
23% of users recommend this
Click here if this is your business
  • Ease of Opening Account

  • Ease of Use

  • Customer Service

  • Value For Money

powellmade's review of Lloyds TSB Young Savers Account

☆☆☆☆☆

“My account had to be re-opened 4 times in 3 years, as...”

Written on: 14/01/2007 by powellmade (1 review written)

My account had to be re-opened 4 times in 3 years, as it was classed as dormant - need to keep putting money in regularly - involved numerous visits with I.D., and then it got really bad when I changed the children's names after marriage! Also charged tax on their interest at the ages of 8 and 4, though don't know whether this is standard under the current government. Lloyds TSB are impossible to reach by phone. I wouldn't recommend them or their Young Savers Account.

If you are commenting on behalf of the company that has been reviewed, please consider upgrading to Official Business Response for higher impact replies.

Wmb194's Response to 274475_powellmade's Review

Written on: 21/06/2012

To register for gross interest you need to fill in an R85 form on behalf of your children and then post of pass by hand at a Lloyds branch, otherwise they'll be taxed at 20%. If they do pay tax and their income is below the personal allowance it can be reclaimed from the HMRC - see their website.

Reply to this comment
If you are commenting on behalf of the company that has been reviewed, please consider upgrading to Official Business Response for higher impact replies.
Report this review
Was this review helpful? 0 0