Tsb plus account 5%

josie_ann57

LuSiVe wrote: »

What makes you think you have to have £2000 in there at all times?

Thank you, do you mean I don't? :oThat's great then, I'll set up my SO.
I'm now understanding that the figure £2000 is important purely because that is the limit you get the 5% interest on, so you could have as little/much as you like but that amount gives optimum benefit.
I'm learning......slowly!

ColdIron

AbbieCadabra wrote: »

just opened 2 a/c's online today for me & OH, presumably the a/c nos. are sequentially given out, so that's 1900 new a/c's opened in the space of 4 hours!

While the numbers are sequential they are not necessarily contiguous due to things like check digits etc

LuSiVe

I also wondered if you'd seen something I hadn't, but it would be a very odd current account that made you have that much money in there!

hostertlady

josie_ann57 wrote: »

Will that not take the account to below £2000, if even for a short time, therefore not complying with T&C's of £2000. It would be great if I could just do a SO from one to the other, I was going to have an extra £500 going from one to the other but was thinking I could be getting interest on that some where else. First time I have tried anything like this and still a bit (very) confused!
Thank you:)

LuSiVe wrote: »

What makes you think you have to have £2000 in there at all times?

josie_ann57 wrote: »

Thank you, do you mean I don't? :oThat's great then, I'll set up my SO.
I'm now understanding that the figure £2000 is important purely because that is the limit you get the 5% interest on, so you could have as little/much as you like but that amount gives optimum benefit.
I'm learning......slowly!

I was going to ask the same question too! I have made myself a mental note not to let these accounts go under £2000 for some reason..
and now I am confused again...

NotRichAtAll

cut and pasted from their website

We’re giving you 5% AER/4.89% gross variable on balances up to £2,000

so anything below 2k is fine for interest, anything over 2k is a waste

hostertlady

NotRichAtAll wrote: »

cut and pasted from their website

We’re giving you 5% AER/4.89% gross variable on balances up to £2,000

so anything below 2k is fine for interest, anything over 2k is a waste

yes, but 5% on £2000 is better than 5% on £200...( if you draw£1800out).
hence why we are thinking it's best to keep £2000 maximum in there.............:)

Vladislavs

hostertlady wrote: »

yes, but 5% on £2000 is better than 5% on £200...( if you draw£1800out).
hence why we are thinking it's best to keep £2000 maximum in there.............:)

You dont say? :T:D

hostertlady

Vladislavs wrote: »

You dont say? :T:D

I would roll you a smiley back.. but my smileys arnt working!
it's just that people are saying you don't have to leave the £2000 in the account when , quite clearly, ya do... if you want the best interest...
or no point really...

LuSiVe

Yeah, but people were worried about shifting the £500 (as part of the £2000) out and back, which wont make any difference ....

hostertlady

LuSiVe wrote: »

Yeah, but people were worried about shifting the £500 (as part of the £2000) out and back, which wont make any difference ....

I am still keeping my £2000 in there, after all the too-ing and fro-ing of the £500