TSB monthly saver

YorkshireBoy wrote: »

Of course you'd have to hope they still had the account available at the end of November...you'll be kicking yourself if they don't!

An extremely good point.

I think I'll go ahead as planned and open the account in the next few days. I've literally only just opened the current account, and have no paperwork through the post yet to activate my online banking etc so didn't want to get too ahead of myself. I can live with losing £10 over the course of a year but would not forgive myself if the account suddenly became unavailable!

I love and hate this forum in equal measure. Just when you think you've got your plan all figured out and one tiny post sends all the cogs whirring again because there might be an extra couple of quid to be made/saved. It certainly all adds up though!

Thanks everyone for input.

Archi_Bald wrote: »

Nope, not at TSB it isn't.

Sedulous may be confusing the account with the Club Lloyds Monthly Saver where, from memory (it was almost exactly a year ago for me...note to self - start another tomorrow!), you can set up the SO at the end of the application?

Kernel_Sanders wrote: »

Could YB please stop suggesting people look at calendars and start explaining what he thinks is wrong with our dates

They're both Saturdays! The deposit will therefore be statemented the following Monday...which is the next month!

As for SOs, no need to fret. I made enquiries and they admitted that the term also includes faster payments, which all my subscriptions have been. I suspect they might not be able to tell if an incoming automated credit is one or t'other.

The Lloyds Rep on here has previously stated they can indeed tell if the incoming payment is a SO or an immediate/future dated payment. And don't forget, the systems used by TSB are the same as, or based on, those used by Lloyds.


But don't let me sway you. Do your own thing.

Westie983 wrote: »

the adviser agreed that I should close the regular saver and open a new one and fund by standing order.

That would seem to breach condition 4.2...unless you invoked condition 5.1 (and that overrides condition 4.2)?

Either way, I'd be wanting something in writing confirming what was said.

one advantage of this monthly saver is they don't require you to fund it by using a TSB account, I fund mine by Lloyds to use up one of my 2 DD needed for my interest.

Sorry? You're pulling (or think you're pulling) the TSB Monthly Saver funds from Lloyds by DD? Or have I misunderstood?

Kernel_Sanders wrote: »

Now I'm totally confused
Only today I have been assured that automated payments made on Sundays (and presumably Saturdays too) are credited the same day!
https://forums.moneysavingexpert.com/discussion/5335441

I believe I said you'd "everything to gain and nothing to lose" by sending an immediate FP today.

But this is a little different because we're talking about SOs...and they, unlike immediate FPs (which is what your query was about), won't even be sent until the next working day* so can't arrive before.


* With one notable exception...Tesco current accounts.

'don't require you to'? They positively prohibit it, don't they?

Only from TSB savings accounts. Condition 2.2 relates.