Tsb plus account 5%

YorkshireBoy

lyster101 wrote: »

I've had an email overnight telling me that my application was declined. Does anyone know why this might be?

CIFAS fraud marker?
Unable to ID you/electoral roll issue?
A very dodgy financial associate?
Poor history of managing current accounts/unauthorised overdraft use etc?
Poor credit history in general?
Low income? (unable to cross-sell you anything)
In short...anything really.

I searched the forum and there doesn't seem to be anyone else that has been declined.

4 posts before yours, someone else reported being declined just 2 hours ago. Others have also reported being declined.

I've reapplied now without saying the account is for savings and will see if they change their mind. Might it be this?

Doubtful, as others have been accepted when entering the same. You'd have been better asking TSB why they'd declined you and/or viewing your credit files before incurring another wasted credit search.


There really is a problem if you're declined a bank account! Even though I now have 23 (including 2 of these Plus accounts), I'd be surprised if I was declined for my 24th (the Club Lloyds) when I get round to applying.

noh

leeroy2009 wrote: »

well its not the savings that did it then, but who knows as it could be that your retired that allowed you to have savings options go through

There will be some other reason.
I put savings and employed and got two accounts.

leeroy2009

noh wrote: »

There will be some other reason.
I put savings and employed and got two accounts.

can only be a guessing game, cant it.

older_wiser

TSB card has arrived didn't know it was contactless but looking at the front page it does show the card is. still waiting for my activation code though so not alot i can do with it and my switch will be complete on the 8th i can't fault TSB.

iAMaLONDONER

nearlyretired2004 wrote: »

just out of interest would love to know the maximum number of accounts people are currently doing the '£1000 shuffle' (as its known in our house) with.


My current total is 16 accounts but soon hopefully to rise to 24 if we get the maximimum 8 from TSB and maybe a couple more from Clydesdale (just looking at those now.....)


I realise that some banks only require £500 to meet funding requirements but as its only there for seconds I do £1000 to all of them to save remembering who needs what)


In fact (as I've posted several times on here before) my 9 Halifax accounts NEVER have any real money in them as I have an overdraft facility on the first account and cycle a theoretical £1000 from that, through the other 8 accounts and back to the first ....!!!

Wow 16 or (22 accounts if you open 6 TSB accounts) sounds a bit much !

However Yorkshire Boy has 23!

YorkshireBoy

iAMaLONDONER wrote: »

Wow 16 or (22 accounts if you open 6 TSB accounts) is ridiculous!

So is earning 1-1.5% when you can earn 3-5% instead!

YorkshireBoy

iAMaLONDONER wrote: »

However Yorkshire Boy has 23!

Many others on here have more. Saw a post earlier today on another website where someone had 26 accounts in their own name, but also managed the family's portfolio of accounts as well...a total of 80 current accounts requiring 40 minutes of admin once a month to carry out the 'shuffle'.

Aquamania

nearlyretired2004 wrote: »

As you may guess from my username I do have the time to manage this (I must update my username to fullyretired....)

Yeah, I gathered you had a lot of time on your hands

nearlyretired2004 wrote: »

]
I understand the long term benefits of investment rather than saving and have done well from one of my pensions invested in funds....however my only other foray into equities ( an ISA recommended by an IFA) has actually lost a good bit of money over two years!!!

Have you spoken to your IFA recently? :huh:
What did you say you wanted to get from your investment? Was if low or high risk? Was it short or long term?

The UK Stock market has risen by about 5% in the last 12 months and about 12% in the previous 12 months.

According to Nationwide, house prices rose by an average of over 9% in the last year, and I've just heard a different report saying they rose by 18% in London.
(that's without even considering rental yield which is typically about 8%)

nearlyretired2004 wrote: »

I have good reasons for keeping a relatively large amount of money in cash as it may be needed to fund a move abroad at short notice..... (and no, I'm not running from the taxman!!) so I do all I can to legally make it work as hard for me as it can .....

You can invest and make good returns and still have access to the capital at short notice if required. We have some and can get a cheque within 2-3 working days.

Anyway, I know you have lots of time on your hands, so you don't need any more advice from me.

Take care

Aquamania

AlwaysLearnin wrote: »

Their online banking only showed the option to enter an activation code yesterday for me - accts opened Sunday. A seperate screen as you log on.

I thought perhaps this might be because they've now actually sent the code.

You can by-pass this if you don't have the activation code.

Cancel, continue to accounts or something like that.

Aquamania

SG27 wrote: »

No because I can't log in. My log in details are not recognised. I called them and they told me I have to wait to be sent the activation code, but without being able to log in a code is no use! I decided to register for online banking and seemed to recognise my account number so now waiting for an online banking activation code as well as the plus account activation codes.

I have to say experience so far with the "try before you buy" account, I wouldn't be buying.

The log in details are as per those you agreed when you set up the account. They should have sent you an email of the user id too (but not the password or memorable word)

You don't need the activation code to view the online account (but some features such as paying others are disabled until you input the activation code)