Tsb plus account 5%

zerog

leeroy2009 wrote: »

happens often with 1st timers from Santander, had this happen to me many times, which is a little silly considering they send a txt to my phone with a code to enter into the otp box in online banking to confirm its me that set the SO up

TSB, or anyone LBG who uses the same style of internet banking design, is worse in some cases. Not only do they have that stupid drop down box on the log in, and take 1 minute to call you instead of a text which takes 10 seconds, they still don't believe that it's you who wants to pay more than £1000 to a new payee, and then lock you out completely! At least Santander only locks you out after a few days if you don't answer their automated fraud call.

This is why I have to use Nationwide for my main internet banking (though not for DDs and interest), as if you use the card reader, payments are guaranteed to be accepted.

will-he-payitoff

adindas wrote: »

My only concern is that, they might drop the interest to 1.5% in the near future like what they will do with Lloyds Classic with Vantage in July 2014.


Thanks

Is this true or rumour?

KTF

will-he-payitoff wrote: »

Is this true or rumour?

The Vantage interest is being reduced now that Club Lloyds is launched.

No changes to the TSB account announced yet - unlikely to change for some time as its just launched..

LittleVoice

KTF wrote: »

The Vantage interest is being reduced now that Club Lloyds is launched.

No changes to the TSB account announced yet - unlikely to change for some time as its just launched..

And because they say, "Other banks offer high introductory rates, known as ‘teaser rates’, which they take away after their initial period." Of course they don't want to be like "other banks".

teleaddict

Can somebody confirm if I need to have any direct debits set up on this account in order to get the 5% AER interest. I've checked the T&Cs and read this thread to the point I'm boggled eyes. I don't think you do...

KTF

teleaddict wrote: »

Can somebody confirm if I need to have any direct debits set up on this account in order to get the 5% AER interest. I've checked the T&Cs and read this thread to the point I'm boggled eyes. I don't think you do...

No, just make sure the statement settings are 'paperless' and pay in/cycle £500 internally between the 2 accounts.

teleaddict

Thanks KTF for the confirmation, I didn't think so. TSB here I come... I might even treat Mrs Teleaddict to an account...

hostertlady

bsms1147 wrote: »

Yes, you'll only get interest on the first £2,000 though (so your first two deposits). If you open a second account you can get interest on a further £2,000, though will have to remember to have a minimum of £500 going into each account each month (it can come straight back out again).

You'll need to use further accounts at different institutions to gain interest on the remaining £8,000, Nationwide being the next option for £2,500 of it.

just two quick questions.. when you say straight back out again, do you mean the same day? surely 'they' will pick up on this and do something about it..
and..
has the £500 got to be paid in by one transaction or can it be hundred this week, hundred next. and so on........(within the month...) so if I opened my account on the 1st of april. I have to pay the full £500 in by the 30th?

KTF

hostertlady wrote: »

just two quick questions.. when you say straight back out again, do you mean the same day? surely 'they' will pick up on this and do something about it..
and..
has the £500 got to be paid in by one transaction or can it be hundred this week, hundred next. and so on........(within the month...) so if I opened my account on the 1st of april. I have to pay the full £500 in by the 30th?

You can do an internal transfer between the two accounts, it doesnt even have to go in and out.

As long as there is a line item on the statement showing that the money was there it counts.

As long as £500 is paid in then it counts, this can be 1 lump sum, 5x £100, whatever.

For me I have a SO sending £500 between the two accounts on the same day so I dont even have to do it manually or transfer any new money in or out.

lyster101

Thanks everyone for the replies (10 pages ago). I've still not had a reply from TSB since my second application. I will do another one when I get a chance this week.

YorkshireBoy - probably my incompetence with the search on here. None of your suggestions apply, really. Wow, 23 and 80 accounts! I think I have maybe 6 or so that are active. I'll pop into a branch as the online method didn't give a lot away. I was once declined one with Santander a while ago but I beat them into submission with repeated applications.