TSB Plus Current Account - 5% interest

CaptainHaddock_2

TSB is going to offer a current account paying 5% on credit balances, and you will be able to open two accounts in the same name - offering the option of having this as a haven for your savings in a similar way to the old LloydsTSB Vantage accounts.

There will be no monthly fee, no initial need to transfer direct debits or standing orders, but you will have to fund the account with £500 per month. No word yet on whether those £500 need to come from outside TSB or if, like with the Vantage accounts, you can just transfer between your two Plus accounts.

veryintrigued

CaptainHaddock wrote: »

TSB is going to offer a current account paying 5% on credit balances, and you will be able to open two accounts in the same name - offering the option of having this as a haven for your savings in a similar way to the old LloydsTSB Vantage accounts.

There will be no monthly fee, no initial need to transfer direct debits or standing orders, but you will have to fund the account with £500 per month. No word yet on whether those £500 need to come from outside TSB or if, like with the Vantage accounts, you can just transfer between your two Plus accounts.

See Banking forum - a couple of threads on there already

Milarky

2 times £2000 accounts - £200 annual interest. Not bad I suppose.

stclair

More details can be found here straight from the horses mouth!

http://www.abouttsb.co.uk/press_and_media/news_releases/12_03_2014_5_per_cent_interest_from_the_bank_acount_thats_not_like_other_bank_accounts.html

Gaffy

Silly question but are we allowed to have these as well as the three Enhance accounts?

Archi_Bald

Time will tell.

planteria

how many can we have?

planteria

are they going to offer a transfer incentive?

jimjames

planteria wrote: »

how many can we have?

It said 2.

planteria wrote: »

are they going to offer a transfer incentive?

I'm sure they won't need to - the rate is incentive enough!

Archi_Bald

planteria wrote: »

are they going to offer a transfer incentive?

Time will tell whether there is any incentive in addition to the 5%.

rb10

Archi_Bald wrote: »

Time will tell whether there is any incentive in addition to the 5%.

Unlikely - it would go against the ethos of 'no funny stuff' that they make such a thing of in their press release. They are wanting to sell this account based on the ongoing benefits it gives, not on a one-off bribe.