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MSE News: TSB cuts its interest rate - move excess money now so you don't lose out
Legacy_user
Posts: 0 Newbie
High street bank TSB has today slashed the interest rate it pays on its Classic Plus current account from 5% to 3%...
Read the full story:
'TSB cuts its interest rate - move excess money now so you don't lose out'
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'TSB cuts its interest rate - move excess money now so you don't lose out'
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Well knock me down with a feather.0
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Why didn't anybody tell me!:mad:0
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We dealt with this when we were all checking for the interest at 00:01 this morning.0
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I wasn't quite as early as 00:01 as I thought their systems might be struggling with the mass exodus of £500's, but all is now taken care of.0
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I wasn't quite as early as 00:01 as I thought their systems might be struggling with the mass exodus of £500's, but all is now taken care of.
That's why I moved my £500 out on 1 January, when I was doing the monthly £500 in and out routine. This time it was £500 in and £1000 out. Hope TSB's liquidity is strong enough to cope with the exodus
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Deleted_User wrote: »That's why I moved my £500 out on 1 January, when I was doing the monthly £500 in and out routine. This time it was £500 in and £1000 out. Hope TSB's liquidity is strong enough to cope with the exodus
If their only customers are MSE users then they may struggle, but I got the impression that we were in the minority.0 -
People strike whenever they suffer a loss.
If I was a Roman general, and I was entitled to two slaves tending to my every need, and they cut it back to one, surely I should protest?
A strongly worded letter to the Times, by God!0 -
Bad news that the interest rate has dropped on this account. One question for you guys, which I hope you can answer, I have 2 of these, and I understand that TSB going to reduce customers to 1 account at 3% £1500. Has this happened? I have been on my online banking but see no differences.
Is there something I have missed? Thanks for any answers.0 -
The words "we may..." in the communication they sent you perhaps?Ainsdale_Lad wrote: »Bad news that the interest rate has dropped on this account. One question for you guys, which I hope you can answer, I have 2 of these, and I understand that TSB going to reduce customers to 1 account at 3% £1500. Has this happened? I have been on my online banking but see no differences.
Is there something I have missed? Thanks for any answers.0 -
So my 2 accounts are still in place, although both at 3% £1500 balance, with the usual funding requirements? 60 days notice before any change?
Please forgive me, I have lost/wiped the email TSB sent. Thanks again.0
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