TSB Classic Plus rate/limit changing

dreaming
dreaming Posts: 1,139 Forumite
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in Budgeting & bank accounts
So TSB have cut their rate on their Classic Plus account to 3% from January 2017. This will be payable on £1500 instead of the current £2000.


Oh well, it was good while it lasted.
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  • GTR_King
    GTR_King Posts: 1,793 Forumite
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    O well I now need to move that money to another account which pays good interest
  • Silvertabby
    Silvertabby Posts: 9,014 Forumite
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    Pity. we have 3 TSB accounts, currently getting 5% on £2K each - one each plus a joint account.
  • GTR_King
    GTR_King Posts: 1,793 Forumite
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    Shame as there no good interest rate current account at moment so might have to close it or just downgrade it to classic account
  • badger09
    badger09 Posts: 11,201 Forumite
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    GTR_King wrote: »
    Shame as there no good interest rate current account at moment so might have to close it or just downgrade it to classic account

    Why? There is no account fee:cool:
  • neptcury
    neptcury Posts: 14 Forumite
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    From an email I received

    Changes to your terms and conditions
    Your Classic Plus terms and conditions are changing. From 4 January you’ll earn interest on balances up to £1,500. Another new condition is if you have more than one Classic Plus account in your sole name or more than one Classic Plus account in joint names, we may convert your additional account into an Enhance account or another current account from our range. We’ll give you at least two months’ notice before we do this.

    The Enhance account pays 0.75% up to £5000 :cry:
  • xylophone
    xylophone Posts: 44,348 Forumite
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    we may

    What on earth does this mean? We are permitted to? We shall? We might?
  • GTR_King
    GTR_King Posts: 1,793 Forumite
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    I know but 3% is rubbish o well
  • missile
    missile Posts: 11,684 Forumite
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    neptcury wrote: »
    From an email I received

    Changes to your terms and conditions
    Your Classic Plus terms and conditions are changing. From 4 January you’ll earn interest on balances up to £1,500. Another new condition is if you have more than one Classic Plus account in your sole name or more than one Classic Plus account in joint names, we may convert your additional account into an Enhance account or another current account from our range. We’ll give you at least two months’ notice before we do this.

    The Enhance account pays 0.75% up to £5000 :cry:

    I have 6 Classic Plus and have not received this e mail ............... yet
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    xylophone wrote: »
    What on earth does this mean? We are permitted to? We shall? We might?
    1 and 3, but not 2 (but you knew that anyway).


    Lots of banks have similar wording in the T&Cs (Santander & Halifax spring to mind), but they don't always carry out their threats...at least haven't done yet anyway. ;)
  • Dan83
    Dan83 Posts: 672 Forumite
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    Nothing lasts for ever and 3% is still better then nothing. I will of got 12 months out of mine. I'll put the spare £500 in P2P.
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