Tsb plus account 5%

Sam112_2

I got my first account in July, I can still open a second and one joint account or a second and two joint accounts?

Either way if I do both/all three at same time how many credit checks will they run?

B_G_B

Sam112 wrote: »

Either way if I do both/all three at same time how many credit checks will they run?

When I opened 2nd and 3rd current accounts with TSB ( and Lloyds, BoS and Nationwide for that matter) a new credit check has been made for every additional application.

jimjames

Looks like TSB is proving very popular

http://www.bbc.co.uk/news/business-29752213

TSB's appeal to investors was put down to it not carrying a complicated legacy such as PPI or international investment banking operations and being a relatively straightforward domestic lender.

No mention of the appeal being due to paying market beating interest rates!

Kendall80

I guess they deserve a bit of success. A lot of us on here may have 8k+ with them earning 5% - (net 6.40 -6.60 per month per account).


Having maxed out nationwide that 8k of mine would be earning 4% in a club Lloyds. So thanks TSB ... although 6% would be better

Archi_Bald

jimjames wrote: »

No mention of the appeal being due to paying market beating interest rates!

That story is really funny, and the marketing spin they have put on it is simply hilarious. I wonder what they will be saying next quarter, when their new account numbers will be half, or less than half, of what they could have been.

Interesting that their profit performance is rather rocky. I think their shareholders expect something a bit steadier in the longer term.

Nick_C

So they floated at 260p, started trading at 290p and closed today at 263p.

Not a great success IMHO.

anoncol

I wonder if 5% has anything to do with them picking up customers....

MissyD_2

Urban_Tangleweed wrote: »

Applied for one of these as did my girlfriend, both of us are employed with decent salaries and have a good amount of savings, but like the post above, both received an e-mail this morning saying application declined!

No idea why except that perhaps take up has been so good they've pulled it for most although it still features on the front page of their website today.

The only thing I can think we perhaps did "wrong" was to select the purpose of the account as "Savings", maybe if we'd transferred our current accounts to them it may have been different?

Anyway, it will be interesting to see if many get declined or accepted, please let us know by posting on here.

Sorry just found this thread (Sorry for the long reply & if someone already said this on another post) -
Just to say I opened this account online and funded it with the £2000 straight away on around 19/05/14. As it was a while ago I really cant remember what I said purpose was for, although more than likely to have said deposit for my 1st house (as that's all I have on my mind when saving!)
I also set up an Standing order (which was returned every month) however months later when I realised the SO had always been returned I cancelled it only to find the monthly interest stopped being paid.
As I have a few of these accounts, I now just use a series of SO's to meet the minimum income for all accounts with the same money bouncing in and out of each account doing the rounds.
There's some good info here if anyone wants to know more -
http://www.moneysavingexpert.com/savings/savings-loophole

Sam112_2

Has any existing customer been successful in opening a second account after the T&C change as per the MSE article which states existing customers have till January?

I've got two sole since July, OH has one sole and he would like another.

downhillfast

Sam112 wrote: »

Has any existing customer been successful in opening a second account after the T&C change as per the MSE article which states existing customers have till January?

I've got two sole since July, OH has one sole and he would like another.

Yup! I opened my first a while ago so qualified for the second account. Opened the second account after teh T&C change no problem. I found that I had to open it whilst logged out of online banking though as otherwise it said I couldn't have a second current account! Once it was set up it showed up on my existing login without any issue.