Tsb plus account 5%

YorkshireBoy

midge406 wrote: »

I've had three interest payments now but all three for different amounts. £6.86, £6.22 and £6.65. I've had £2k in each account the whole time and have transferred my interest out on the 2nd of each month. How can that be?

Just to put a bit more detail on Hazzanet's post...

Although you must credit once per calendar month, they calculate interest on what they call a billing period. This billing period runs from the second working day of the month to the first working day of the next month. The interest is then paid at the end of the first working day of the month (which means the early hours of the second working day of the month). This is explained in your T&Cs and on their website if you'd like to check and verify.

Because weekends and Bank Holidays are non-working days, the number of days in the billing period can vary from 28 to 33 or even 34.

In essence though, your £2K is earning (£2,000 x 0.0489 / 365 x 0.8 21.4p per day net of basic rate tax. So if you divide the interest paid by 0.214 you'll see there have been 32, 29, and 31 days respectively in the last 3 billing periods.

hardpressed

innovate wrote: »

Seems TSB jumped before they were pushed. I believe the FCA has launched an investigation into the use of premium rate numbers by banks, and I wouldn't be surprised if they will all have to provide local rate numbers before long.

Many print a "call from abroad" number on the back of their debit cards now. Invariably, these numbers are in the inclusive numbers of mobile and landline plans.

I've just had a 26min call to TSB on an 0845 number that was printed on a letter dated 18th July and they have also given me a 0845 number to phone tomorrow! I shall be complaining if BT charge me for the call.

colsten

hardpressed wrote: »

I've just had a 26min call to TSB on an 0845 number that was printed on a letter dated 18th July and they have also given me a 0845 number to phone tomorrow! I shall be complaining if BT charge me for the call.

Why did you not use the landline number printed on the back of your debit card, or a landline number from saynoto0870.com?

Or use their 0345 number? Or even use one of the landline numbers they publish on their "Contact Us" page?

http://www.tsb.co.uk/contact_us.asp

YorkshireBoy

And...

hardpressed wrote: »

I shall be complaining if BT charge me for the call.

"If" they charge!? Why don't you know what tariff you're on and how much the calls cost?

knack92

hardpressed wrote: »

I've just had a 26min call to TSB on an 0845 number that was printed on a letter dated 18th July and they have also given me a 0845 number to phone tomorrow! I shall be complaining if BT charge me for the call.

They must have forgotten to update the letter template. They might pay for your call cost if you ask them to.

Gram_Parsons

Just switched to TSB Classic Plus after more than 25 years with RBS! Now I've been accepted I assume it will be a formality that I'll get the second Plus account to maximise the interest?

aliasojo

Gram_Parsons wrote: »

Just switched to TSB Classic Plus after more than 25 years with RBS! Now I've been accepted I assume it will be a formality that I'll get the second Plus account to maximise the interest?

Not necessarily.

I got the first one then got a 'sorry, we cannot offer you a second account at this time' message when I applied for the second.

However, a few days later, I followed a link from here and applied again this way and it was accepted instantly. No idea why this was but both accounts showed up together and have been running with no issues since.

Atidi

hardpressed wrote: »

I've just had a 26min call to TSB on an 0845 number that was printed on a letter dated 18th July and they have also given me a 0845 number to phone tomorrow! I shall be complaining if BT charge me for the call.

I bet that'll cause a few giggles in the TSB complaint department.

Dear TSB,

COMPLAINT

I would like to complain in the strongest terms about your bank's option to call you via a low rate 0845 number.

I have looked into the BT call rates and discovered the following rates apply when calling from a residential BT landline (and the calls are outside of any free calls included in the calling plan)

All charges relate to calls made Monday-Friday, 7am - 7pm

0845 number - 2.04p/min (plus 15p connection charge)

01,02 or 03 number - 9p/minute (plus 15p connection charge)

I have already made a 26 minute call to you via that low rate 0845 number which has unbelievably saved me £1.81 due to your kind option of using such a low rate number and who knows how much you will save me tomorrow when I am required to call that number again.

This is totally unacceptable of a large banking institution and I demand I refund you all savings I have enjoyed as a result of calling the low rate 0845 number you have provided.

Would you please confirm the more expensive numbers I may contact you in future on so that I am not forced to make such savings against my will in future.

Yours sincerely,

hardpressed

:cool:

slinga

colsten wrote: »

Why did you not use the landline number printed on the back of your debit card, or a landline number from saynoto0870.com?

Or use their 0345 number? Or even use one of the landline numbers they publish on their "Contact Us" page?

http://www.tsb.co.uk/contact_us.asp

Are 0345 numbers free????

Fruit_and_Nut_Case

aliasojo wrote: »

I got the first one then got a 'sorry, we cannot offer you a second account at this time' message when I applied for the second.

You were probably rejected for the second because you were logged on to TSB banking when you applied. The trick seems to be to apply when NOT logged on. This has happened to quite a few posters, including me.