Lloyds saving - really so bad option?

[LadaST]

Currently wanna use my Lloyds saving for connecting and verify with PP/eBay account but in some threads I saw warnings to avoid this bank rather. What's exactly the point? I wanted to use just name variation so where is the risky point? Grateful in advance for any advice......

[RosieTosie]

Lloyds don't like mismatched names and the forum has many people who can verify that, also savings accounts are to be avoided as they don't like direct debits and you need to be able to set one up to pay your eBay/PayPal fees in case you don't have enough funds in said accounts to pay the fees. Finally, you can only make a very limit number of withdrawals in one year from savings accounts.

I do use both Lloyds and TSB. Have used Lloyds since for at least three years and TSB since the split.

Never had a single problem, question, raised eyebrow, anything.

I use savers, can be opened and closed online at will.

Perhaps I'm just lucky.

Since Lloyds bought HBOS, Lloyds has switched to the HBOS online system rather than vice versa, so maybe that's a factor in why I haven't had a problem. Perhaps people had problems in the past but they aren't an issue any longer.

That said, obviously if people are having problems, it's a gamble, so I'm not saying 'yes, use Lloyds and TSB', I'm saying 'I use them heavily and have no problem'.

I have never ever experienced a limited number of withdrawals from the Lloyds savings accounts I use. I have the ability to transfer to Lloyds current or use cash point card without limits except the normal cash withdrawal and transfer limits, and unlimited transactions.

Also never had a problem with DD.

Procedure as with all savers:
1) add savings account
2) verify 4 digit code
3) remove account
4) re add account without verifying code

Stops the DD mandate being submitted