GALLOPING ONLINE WITH THE BLACK HORSE

I have been banking with Lloyds Bank (now LloydsTSB) for a long time. For the last eight or nine years, most of my transactions have been online.

I had a few worries when Lloyds Bank and the TSB (Trustee Savings Bank) merged, but it didn’t seem to affect customer service as much as I had expected, and my loyalty seemed to be still appreciated.

In 1999 I was introduced to the internet, and I had my first e-mail address. I'm not quite sure when LloydsTSB started offering internet banking, but I was quick to take advantage of it.

I was sent a user ID number in the post, and I chose my own password. I had to choose a memorable phrase of which three characters would be selected at random (such as the fifth, ninth and eleventh). Drop-down menus of letters and numbers ensured that keystrokes could not be recorded, and it was not the same ones each time, so someone trying to track it could not easily break the security. This was very secure, and could be used anywhere you could get online.

They decided to use a device for extra security, and issued some of us with little keyfob security devices which generated a random six digit number when pressed which would be only valid for a short while. These (I believe) actually contain mini transmitters, which somehow link to the system. The system knows what number has been generated and validates your login, and also validates each transaction it asks you to confirm, as you are setting up direct debits, transfers and payments online.

HOW IT WORKS: When you type the URL www.lloydstsb.com into the internet address bar, you come to a "Welcome to lloydstsb.com" page

There are headings for anything you might want to know about different accounts and services which are offered by the bank. In the right hand corner, under the green tabs, is "Welcome to Lloyds TSB" and below that is a little grey section [Internet Banking] with two blue buttons Personal Log on and Business Log on and a further underlined link Register now. Registration requires that you be over 16, have a LloydsTSB product to register for internet banking, an e-mail address, and to agree to the T&Cs before you register. Joint account holders have to register separately. You will need to create and remember a password and keep it secure. Once you have registered, you will be issued with a user ID ~ mine is nine digits, and an Access Code Device. You need to confirm safe arrival of the device, and then you are ready to use the Internet Banking Service.

When you are on the Welcome page, you will need to press the Personal Log on button. This will bring you to a page where you type in your User ID, then your password, then Continue.

The next page you press your Access Device and type the six digit number you see, and press Continue. Sometimes you will see an announcement or warning, which you click when you have read, and sometimes you are directly on the Internet Banking Account Overview.

"Welcome back, Jessie" is above the list of my Accounts, both active and currently inactive.

All your current accounts and savings accounts are listed in the first section; account name (and sort-code and number), balance, overdraft limit (where applicable), and options. Any Credit cards are listed in the next section, with account name (and 16 digit number), balance, credit limit, and options. There is also a column of links to the left hand side, and a quick transfer section, where you can transfer immediately between accounts listed in the first section without needing to use your access device.

Your list of Options you can do varies according to the type of account it is. Some options just link you to another service for which you can sign up (^). The main options I use are "Statement" and "Transfers & Payments"

For Current accounts:

• Statement ~ goes back for as long as the account has been online
• Transfers & Payments ~ here you can arrange to pay bills or transfer to an account not your own.
• Bill Manager ^ (a new service)
• Standing Orders ~ see all your standing orders
• Direct Debits ~ see all your DDs, when they were last paid, and how much
• Save the Change ^ (when you use your debit card, it automatically rounds up to nearest £ and transfers into nominated savings)
• Overdraft
• Upgrade your account ^ (if you want to pay a fee and have additional benefits)
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For Savings accounts:

• Statement ~ goes back as long as account online
• Transfers & Payments
• Bill Manager ^
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For Credit Cards:

• Statement
• Payment Protection
• Balance Transfer
• Manage your PIN
• Amend Credit Limit
• Additional Cardholder
• Set up Direct Debit
• Bill Manager ^
  .

If you want to use the additional services there are both drawbacks and benefits, but mainly you can see at an instant what is available in any of your accounts and make adjustments where required to make sure you maximise your benefits and don't have charges.

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MY ORIGINAL QUICK REVIEW:
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. . . the reason l like my LloydsTSB online banking, and internet Online Savings account is the instant transfer . . . in fact, the whole online account set-up was virtually instant, with it being opened by transferring money from other accounts directly online . . . no extra proof of identity required . . . and all my accounts, even credit card are visible online, with current balances showing (although credit card transfer is not instantaneous) . . . l can use the quick transfer feature on both current and savings accounts . . . and when the page has loaded, the balances have changed on all accounts involved . . . not only that, but l can instantly transfer money to ANY OTHER LloydsTSB account, and have done so, to help each of my four children in turn, in emergency . . . although l have to transfer from online saver into another account first
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Thanks for READING! Hope this is of some use to you!

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Update 17 October 2009: I went to transfer payment for my Tesco Personal Finance credit card bill when it came this week. It (shockingly) transferred it immediately, warning me not to touch the keypad myself as it could prevent the transaction on the surface . . . that was certainly quick

© 2009 . . . . . . ♥ . jes . ♥
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