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  • FIRST POST
    • themanfromamarillo
    • By themanfromamarillo 12th Oct 16, 4:30 PM
    • 92Posts
    • 46Thanks
    themanfromamarillo
    TSB rate dropping
    • #1
    • 12th Oct 16, 4:30 PM
    TSB rate dropping 12th Oct 16 at 4:30 PM
    Just got an email from TSB, the classic plus account is dropping from 5% interest on £2k to 3% on £1.5k
Page 3
    • badger09
    • By badger09 15th Oct 16, 12:01 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    So what happens if you have a joint account but only one is registered for Internet banking? Will you lose the interest because of this?
    Originally posted by greenglide
    I don't know the answer to your question, but, the potential problem could be avoided by the 2nd person registering for internet banking, and logging in at least once a year
    • teddysmum
    • By teddysmum 15th Oct 16, 2:43 PM
    • 5,842 Posts
    • 3,442 Thanks
    teddysmum
    So what happens if you have a joint account but only one is registered for Internet banking? Will you lose the interest because of this
    Originally posted by greenglide
    You would fall down on the requirement for both to log in, but it's easily remedied.


    We opened three accounts, two individual and a joint at the same time, in branch. The lady knew I would be doing all the internet banking so suggested I pick a password for my husband that was based on the same pattern as mine,so easily remembered.


    When passing the required £500 through (actually more as it's in a pattern with other accounts' requirements), I sometimes log in as me, then transfer to the joint account to check progress and send money onwards.


    Later in the chain, I log in as my husband , then check the joint to establish payment for the savings accounts and move the cycled money back to source.


    This way both participants (appear to ) log in regularly .
    • Nick_C
    • By Nick_C 15th Oct 16, 3:16 PM
    • 2,494 Posts
    • 3,294 Thanks
    Nick_C
    Well the one bit of good news is I will probably have a current account that I no longer need (I have two CP accounts in my sole name) so I may be able to get a switching bonus out of this!
    • badger09
    • By badger09 15th Oct 16, 3:25 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    You would fall down on the requirement for both to log in, but it's easily remedied.


    We opened three accounts, two individual and a joint at the same time, in branch. The lady knew I would be doing all the internet banking so suggested I pick a password for my husband that was based on the same pattern as mine,so easily remembered.


    When passing the required £500 through (actually more as it's in a pattern with other accounts' requirements), I sometimes log in as me, then transfer to the joint account to check progress and send money onwards.

    Later in the chain, I log in as my husband , then check the joint to establish payment for the savings accounts and move the cycled money back to source.


    This way both participants (appear to ) log in regularly .
    Originally posted by teddysmum
    You do realise that you are breaking the T&Cs, which are similar across every bank with which I have accounts.

    http://www.tsb.co.uk/legal/personal_banking_terms_and_conditionsnew.pdf

    see 4.3 on page 6, which I'm sure you're aware of
    • YorkshireBoy
    • By YorkshireBoy 15th Oct 16, 3:44 PM
    • 28,338 Posts
    • 16,138 Thanks
    YorkshireBoy
    Well the one bit of good news is I will probably have a current account that I no longer need (I have two CP accounts in my sole name) so I may be able to get a switching bonus out of this!
    Originally posted by Nick_C
    If you opened another Classic account now (or any other account from a different bank for that matter) you'd get your switching bonus sooner...in addition to being able to keep your 2 Classic Plus accounts if they don't carry out what they say they may do come the new year.

    It's worth remembering that if banks are cutting back on interest/Rewards they may also cut back on marketing budgets!
    • FOREVER21
    • By FOREVER21 15th Oct 16, 6:21 PM
    • 1,418 Posts
    • 932 Thanks
    FOREVER21
    You do realise that you are breaking the T&Cs, which are similar across every bank with which I have accounts.

    http://www.tsb.co.uk/legal/personal_banking_terms_and_conditionsnew.pdf

    see 4.3 on page 6, which I'm sure you're aware of
    Originally posted by badger09
    I doubt teddysmum will be alone in this respect.
    • Richchad
    • By Richchad 16th Oct 16, 10:17 AM
    • 383 Posts
    • 60 Thanks
    Richchad
    We have 6 TSB accounts, two joint and two sole accounts each, so which ones will they transfer/convert to other accounts, I wonder what the criteria will be for deciding which accounts will be for the chop?
    • badger09
    • By badger09 16th Oct 16, 11:36 AM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    I doubt teddysmum will be alone in this respect.
    Originally posted by FOREVER21
    Probably not. Doesn't mean its a good idea though
    • Eco Miser
    • By Eco Miser 16th Oct 16, 1:48 PM
    • 2,444 Posts
    • 2,260 Thanks
    Eco Miser
    in addition to being able to keep your 2 Classic Plus accounts if they don't carry out what they say they may do come the new year.
    Originally posted by YorkshireBoy
    Having now received and read my email, I note that they will give two months notice before downgrading surplus Classic Plus accounts. Could they give that notice before the new terms come in in January?
    So either there will be a flurry of emails at the beginning of November, or our accounts will go on at the new rates for a few months longer.
    Eco Miser
    Saving money for well over half a century
    • premierfella
    • By premierfella 16th Oct 16, 2:20 PM
    • 852 Posts
    • 467 Thanks
    premierfella
    I doubt teddysmum will be alone in this respect.
    Originally posted by FOREVER21
    A bit like PIN numbers - has there ever been a survey done on how many couples freely share those with their partners. I doubt the percentage that do would be in single figures!
    • teddysmum
    • By teddysmum 16th Oct 16, 4:00 PM
    • 5,842 Posts
    • 3,442 Thanks
    teddysmum
    Probably not. Doesn't mean its a good idea though
    Originally posted by badger09


    Why ?
    I have my husband's permission and after 44 years we only have separate accounts for savings (and originally, taxation) purposes, with all income initially going to a joint account.
    He prefers me to deal with how our money is distributed, as he says I'm 'the mathematician', but we don't consider our income and possessions as 'his and hers' , but 'ours'.
    Last edited by teddysmum; 16-10-2016 at 4:03 PM.
    • undetterred
    • By undetterred 16th Oct 16, 4:15 PM
    • 422 Posts
    • 453 Thanks
    undetterred
    Why ?
    I have my husband's permission and after 44 years we only have separate accounts for savings (and originally, taxation) purposes, with all income initially going to a joint account.
    He prefers me to deal with how our money is distributed, as he says I'm 'the mathematician', but we don't consider our income and possessions as 'his and hers' , but 'ours'.
    Originally posted by teddysmum

    Security issue?? The account gets hacked and drained,the bank ask your hubby does anyone else have access to said passwords??
    • FOREVER21
    • By FOREVER21 16th Oct 16, 4:34 PM
    • 1,418 Posts
    • 932 Thanks
    FOREVER21
    Security issue?? The account gets hacked and drained,the bank ask your hubby does anyone else have access to said passwords??
    Originally posted by undetterred
    And the obvious answer to the bank is???
    • bigadaj
    • By bigadaj 16th Oct 16, 5:40 PM
    • 7,842 Posts
    • 4,785 Thanks
    bigadaj
    And the obvious answer to the bank is???
    Originally posted by FOREVER21
    Only the boss.
    • pauljoecoe
    • By pauljoecoe 17th Oct 16, 6:48 PM
    • 207 Posts
    • 38 Thanks
    pauljoecoe
    I too am getting fed up of trying to find places to put my money. We (wife and me) have 6 TSB accounts between us. That's 12K. I'll keep going with what they allow but that could be a lot of dosh to find somewhere for. I already have Lloyds and Tesco. Scrapped the Santander when they changed their terms.

    Think I might go by a classic car.
    • pauljoecoe
    • By pauljoecoe 17th Oct 16, 6:55 PM
    • 207 Posts
    • 38 Thanks
    pauljoecoe
    I doubt teddysmum will be alone in this respect.
    Originally posted by FOREVER21
    I run all my wife's 'savings' accounts and cashback/interest free credit cards. She can't be bothered with the hassle but appreciates the interest/cashback.

    Please don't tell anyone though. Just between us on here
    • teddysmum
    • By teddysmum 17th Oct 16, 7:12 PM
    • 5,842 Posts
    • 3,442 Thanks
    teddysmum

    Think I might go by a classic car.
    Originally posted by pauljoecoe



    We have ( or rather my husband has) 6 and 2 motorbikes, but I'm not convinced that they are worth much (They were bought years ago, either new or at a good price). You have to buy the real rarities, most of which have already been snatched , to make your fortune.
    • zebedy
    • By zebedy 17th Oct 16, 8:22 PM
    • 400 Posts
    • 483 Thanks
    zebedy
    Gutted about the rate cut but not that surprised. Worth hanging onto until it kicks in and then evaluating if it is still competitive. I have a horrible feeling it will be
    MFW2015 number 101,
    target OP £5000, so far have OP'd £2250
    ---------
    Make Do, Mend and Minimise member - focussing on upcycling/repurposing and sewing
    • guitarman001
    • By guitarman001 18th Oct 16, 12:01 AM
    • 984 Posts
    • 517 Thanks
    guitarman001
    I wasn't aware of this
    • joe134
    • By joe134 18th Oct 16, 8:38 AM
    • 2,929 Posts
    • 383 Thanks
    joe134
    if they decide to move one of my 2 and oh's 2 to enhance, they need not open a new one, we have several empty ones just sitting there.
    As I keep quite a lot of spare cash, flexi, I used to use Tesco IS @ 1.5%, but, that's Kaput, so, will probably still retain all my TSB a/cs until I find another home, probably Fixed rate,,as the hard work of setting them up is already done, and just ticking over.
    got every other a/c on the market, nowhere else to go.
    I reckon they have cut so deep because they expect Carney to cut rate again in November?
    hobsons choice,innit
    Last edited by joe134; 18-10-2016 at 8:46 AM.
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