Tsb plus account 5%

loonytunes123

guys, I appreciate the advice, didn't mean to sound cheeky, apologies if I did, but you assumed I had the max in all accounts, I don,t.

Archi_Bald

Alright, I see, sorry, I seem to have misinterpreted your earlier post where you said you had the max number of Enhances. To get the 3% in there, you need to have at least £3K in each = £9K. Somehow I had assumed you said you had £15K in them, sorry about that.

But even assuming you just have the minimum sensible (£9K) in there: Max in Club Lloyds is £5K, and max in FlexDirect is £2.5K = £7.5K. Where are you putting the remaining £1.5K?

(when I say max, I mean max that you get interest on).

loonytunes123

thanks Archi, between us it's 30k in the 6 Classic Enhance,(max), 12k in the 6 Classic Plus (max) and 8k in Santander 123 (not max). What am I doing wrong?

loonytunes123

YorkshireBoy wrote: »

You were saying you were internally funding the TSB accounts, and then went on to say (because you lumped Santander in) you were doing the same with Santander. I can only read what you write, not between the lines.You're losing money...not a lot, but you're still losing money. I was about to offer some help and a suggestion (but I can't offer anything to rid your shoulder of the chip that appears to be on it!).You won't have room though, and that's the gist of what Archi and I are telling you.Sorry I don't have enough time!

"You were saying you were internally funding the TSB accounts," - where in my post did I say this???

Archi_Bald

There is nothing anyone is doing wrong .....the Q was what you would do with your Enhance balances if/when TSB drop the rate/the account. You said you would use Club Lloyds and FlexDirect accounts, which sounds a great idea for £7.5K per person, but there is then still another £7.5K per person hanging out, isn't there? Are you putting that money into 123s perhaps?

Just trying to understand what you are saying.

loonytunes123

and what if Lloyds and Nationwide drop their rates at the same time??? it's all if if if.....might as well put it on the first favourite at Doncaster and be done with it....lol

YorkshireBoy

loonytunes123 wrote: »

"You were saying you were internally funding the TSB accounts," - where in my post did I say this???

I concluded that's what you meant by the highlighted text below...

Hi,
Here is what myself and my wife have, hope it helps some of you:
Me - 3 (maximum allowed) Classic Enhance accounts with TSB, paying 3% if balance remains between 3 and 5k (1k must be paid in monthly, I rotate the 3)
2 (maximum allowed) Classic Plus Accounts with TSB, paying 5% up to 2k balance (£500 must be paid in monthly, I rotate the 2)
Wife - Same as the above
Joint - 2 (maximum allowed) Classic Plus Accounts with TSB, paying 5% up to 2k balance (£500 must be paid in monthly, I rotate the 2)
The rest of our money is in Santander 123 account earning 3%
NB: I never have to fund these accounts with "new" money

Are you saying now that you don't in fact do this?

YorkshireBoy

loonytunes123 wrote: »

and what if Lloyds and Nationwide drop their rates at the same time??? it's all if if if.....might as well put it on the first favourite at Doncaster and be done with it....lol

I have a couple of regrets with my own banking this year...


1. I didn't open 2 Santander 1-2-3 accounts when I could/should have, and


2. I didn't forsee, or if I did I ignored/delayed, TSB pulling the Enhance accounts for new customers.


The above has forced me into S&S ISAs when I'd rather not have gone in as heavy at this time.


So what I'm saying is get yourself a plan B (and C and D if necessary). BoS vantage, as I suggested earlier, might be a decent option should TSB Enhance go the same way as Lloyds Vantage...and is a straight dump from TSB Enhance with no overspill.

loonytunes123

ok.......thanks

loonytunes123

one thing.......why are we always begging for !!!! percent bank rates of interest?? someone told me to consider shares in , e'g the Indian economy....risky, but a seriously emerging market?? Would have to be done through a broker I guess??