Tsb plus account 5%

msallen

slimkay wrote: »

I opened an account on the 9th of May and instantly put in £2,000.

What day does TSB pay interest? The first business day of the following calendar month?

Also, how do you open a second Classic Plus account? Can you do so online, or do you have to go in branch or call?

I _believe_ interest is paid on the second working day of the month (I too am waiting for the first time).

You can open your second account online, but you must be logged out to do it.

Snowbelle

noh wrote: »

Interest is paid on the second working day of the month.

msallen wrote: »

I _believe_ interest is paid on the second working day of the month (I too am waiting for the first time).

You can open your second account online, but you must be logged out to do it.

Interest is paid at the end of the first working day of the month so will be able to see it first thing tomorrow.

Fruit_and_Nut_Case

msallen wrote: »

You can open your second account online, but you must be logged out to do it.

Thanks for this. I first tried to do it while logged in and got a bright red error message.

JB9302

Opened 2 accounts yesterday 1st June with 2K in each , I understand that the standing order to transfer the required £500 needs to be the day after % is added , so would the 3rd of each month be ok , what do others do ?

TIA

KTF

The 500 can be any date in the month. Personally I would set it to the middle of the month to avoid bank holidays, etc.

Gromitt

JB9302 wrote: »

Opened 2 accounts yesterday 1st June with 2K in each , I understand that the standing order to transfer the required £500 needs to be the day after % is added , so would the 3rd of each month be ok , what do others do ?

I wait until the 2nd working day of the month (different from the 2nd day of the month) and then login, check the accounts for fraud, make the transactions, transfer interest and so on. Takes 5 minutes, not worth setting up SOs for.

hieveryone

Looks like my interest will be around £7 per account per month - does that sound right? Both funded with £2k and transfer between the £500.

Thanks

scragend

Snowbelle wrote: »

Interest is paid at the end of the first working day of the month so will be able to see it first thing tomorrow.

That ties up - interest is showing on my account this morning, dated yesterday.

joe134

YorkshireBoy wrote: »

I think (hope!) they'd only do that if they were to launch a new account like Lloyds did.


If it's only a pair of DDs I could cope with that (thanks Tesco!), but I'm not prepared to do it for 1.5% AER...just as I'm not with Lloyds Vantage from July.Who knows...we might even start to use cash ISAs again!

Hi Y , I have taken my first ISA of this year out, and intend to top up to £15k when It's available, and wifes too. As I have been doing them from day 1, we have approx £300K tax free.
I know the rates on Isas are low, but, if you don't use it, you lose it, and when it's all tax free, where would we now put £300k without being hit for tax.I always tie mine up, it always averages out.Instants are the best NOW, but, not always, as Lloyds et.al are showing.A sprat, to catch a mackeral.I'm involved with the taxman now over interest on bank accounts, R40's and R85's are a must, millions every year don't register Gross, and pay 20% tax at source,never, reclaim it, or 10 % back,and the taxman is laughing, all the way to the bank;;;That's where Isas come in, you don't get involved with HMRC, as much, that's the bonus.

Snowbelle

hieveryone wrote: »

Looks like my interest will be around £7 per account per month - does that sound right? Both funded with £2k and transfer between the £500.

Thanks

Its 21.92p per day after tax of 20% per account.