Important: TSB Classic Plus Account - Paperless Correspondence now live !!

colsten

phona wrote: »

Has anyone had any correspondence (paper or otherwise!) saying this option is now available?

Not here, and my friend didn't have any either. We both have 2 TSB Plus accounts.

nuriel

Hi,

I took my eyes off for a bit and now playing catch up: I have 2 Classic Enhanced accounts (not Classic Plus) with TSB. Will I be impacted by the paperless requirement ? I can see that the interest (3% on £5K) have been paid earlier this month.

I saw from earlier posts that Lloyds Vantage are not affected. Both banks are probably getting ready to phase out these accounts, and I vaguely remember a letter about dropping interest rates I need to put my hands on.

Nuriel

Archi_Bald

Classic Enhance accounts are not required to have paperless but it doesn't do any harm to save the paper for them, too.

There has as yet been no indication that TSB will phase out the Enhance accounts. Lloyds Vantage become irrelevant next week, when their max interest rate drops to 1.5%.

Have you not considered TSB Plus accounts?

Yorkie1

Just went paperless on the correspondence - thanks for the heads up on this thread. I've received no information from TSB about the change.

Fluffypigs

Thankyou to all who have been keeping this thread on the first page of the bank accounts board - I have only just stumbled across it in a random browse whilst having my breakfast. Thank goodness I still had 2 days left to make the changes.

Tut tut TSB for keeping so quiet about the paperless correspondence going live.

nuriel

Archi_Bald wrote: »

Have you not considered TSB Plus accounts?

Thanks for your answer. The TSB Plus accounts gives 5% on £2K while the TSB Enhance gives 3% on 5K: I am better off holding on the Enhance account for as long as I can.

Since the Lloyds Vantage are dropping their rates, I will need to do some reading and move them out. I ll come back on another thread to check if my choices make sense.

Nuriel

Archi_Bald

nuriel wrote: »

Thanks for your answer. The TSB Plus accounts gives 5% on £2K while the TSB Enhance gives 3% on 5K: I am better off holding on the Enhance account for as long as I can.

Actually, you are not correct.
£5,000 in TSB Enhance pays £150 gross
£4,000 in 2 TSB Plus pays £200 gross, and you have £1,000 to put somewhere else to earn interest. E.g. into FlexDirect or Tesco current account, so there's another £30 - £50 gross to be had.

nuriel

Archi_Bald wrote: »

Actually, you are not correct.
£5,000 in TSB Enhance pays £150 gross
£4,000 in 2 TSB Plus pays £200 gross, and you have £1,000 to put somewhere else to earn interest. E.g. into FlexDirect or Tesco current account, so there's another £30 - £50 gross to be had.

Good point. Thanks for rectifying.

Nuriel

sjw1

bump...
I've just opened up a Classic Plus account - and have some Vantage accounts.. Do I need to go paperless on all accounts? when I select to go paperless it then lists all my accounts with a 'Yes' next to them for paperless correspondences.
EDIT: It's OK - I found the option to select individual accounts.

zzzt

Hmm I opened an account in August. On 1st September I received a small amount of interest. I assume it's paid monthly? But I didn't receive anything on 1st October, despite paying in £500.

So I did some searching and found this thread. I have now enabled paperless correspondence as well as statements. What is strange is that I don't think there was an option for it before. It seemed like they gave me staggered access to things in the internet banking. Over a few weeks more options became available, without telling me. Maybe you aren't allowed to have paperless correspondence in the first month for legal reasons. I guess I'll wait and see what happens on 1st November now.