Is TSB about to become the next bank to slash savings rates?

Former_MSE_Faye
Former_MSE_Faye Posts: 147 Forumite
in Budgeting & bank accounts
It appears the bank is reviewing the 5% rate it pays out to savers on its best-buy Classic Plus account...
Read the full story:
'Is TSB about to become the next bank to slash savings rates?'
OfficialStamp.gif
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.
See the latest news from MoneySavingExpertNews
Follow the MSE on Twitter: @MoneySavingExp
Get Martin's Money Tips
Join the MSE Forum
«134567

Comments

  • harz99
    harz99 Posts: 3,636 Forumite
    Name Dropper First Post First Anniversary Home Insurance Hacker!
    IMHO they are either looking to drop rates ala Santander, or they may be looking to shed customers who are unproductive for them, or quite probably both.


    Either way don't make their job easier by completing the bank 's questionnaire!
  • karlie88
    karlie88 Posts: 9,114 Forumite
    First Anniversary Name Dropper First Post
    harz99 wrote: »
    Either way don't make their job easier by completing the bank 's questionnaire!

    Why not?

    I would rather get 3.5% on my money compared to 2%. If we don't complete the questionnaires how would they know our preferred rates of interest?
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • kingrulzuk
    kingrulzuk Posts: 1,330 Forumite
    o dear :eek:
    What happens if you push this button?
  • dggar
    dggar Posts: 670 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    harz99 wrote: »
    IMHO they are either looking to drop rates ala Santander, or they may be looking to shed customers who are unproductive for them, or quite probably both.


    Either way don't make their job easier by completing the bank 's questionnaire!

    How will completing/not-completing make their job easier/harder?
  • GingerFurball_2
    GingerFurball_2 Posts: 990 Forumite
    Debt-free and Proud!
    Great, more useless speculation from MSE.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
  • harz99
    harz99 Posts: 3,636 Forumite
    Name Dropper First Post First Anniversary Home Insurance Hacker!
    karlie88 wrote: »
    Why not?

    I would rather get 3.5% on my money compared to 2%. If we don't complete the questionnaires how would they know our preferred rates of interest?


    They already know that - the rate you are currently getting of course (or more but...).


    No need to help with their decision to reduce, no need to provide the statistics to back it up when they announce a reduction in interest as being acceptable in the current climate.
  • harz99
    harz99 Posts: 3,636 Forumite
    Name Dropper First Post First Anniversary Home Insurance Hacker!
    GingerFurball wrote: »
    Great, more useless speculation from MSE.


    Yes, I had that thought as well - thanks.
  • Kim_13
    Kim_13 Posts: 2,402 Forumite
    Name Dropper First Anniversary First Post Photogenic
    It's a shame that they don't seem to be acting on changing/charging for second accounts and seeing how the land lies in a few months. Inflation will creep in and interest will go back up.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    First Anniversary Photogenic First Post
    Kim_13 wrote: »
    It's a shame that they don't seem to be acting on changing/charging for second accounts and seeing how the land lies in a few months. Inflation will creep in and interest will go back up.


    You have posted similar before and seem to have a bee in your bonnet with regard those of us with multiple accounts.
    It was within the rules. If you missed it that is your fault not mine.
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    In a vain attempt to keep the goodies, we should say we will hold our breaths until we go blue in the face, and then slash our wrists if they take away the 5%.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards