TSB cutting enhance rate?

badger09

No letter yet, but just the same.

Looking on the brighter side, that will give me another 3 'donor' accounts for switching, should any worthwhile incentives appear

altocumulus

"They" obviously don't want our cash, nor our custom. Problem is where to go now!?

And just a wee while after the BoE were hinting at base interest rate rises sooner rather than later.

(Probably holding fire until after 18 Sept )

jimjames

altocumulus wrote: »

"They" obviously don't want our cash, nor our custom. Problem is where to go now!?

And just a wee while after the BoE were hinting at base interest rate rises sooner rather than later.

(Probably holding fire until after 18 Sept )

Any base rate rise will have no impact on savings rates. In my view anyway as current rates bear no relation to base rate currently.

altocumulus

jimjames wrote: »

Any base rate rise will have no impact on savings rates. In my view anyway as current rates bear no relation to base rate currently.

Aye, true - current rates fall as base rate thinks about rising - they'll no doubt cross some point .... Still think it's a bummer, though.

YorkshireBoy

A question for those who've received letters...


I don't have any Enhance accounts myself, but just out of interest is there also going to be a '2 DDs to pay out each month' requirement as there is with Lloyds Vantage? And an increase in monthly funding? Anything else?

ColdIron

YorkshireBoy wrote: »

A question for those who've received letters...


I don't have any Enhance accounts myself, but just out of interest is there also going to be a '2 DDs to pay out each month' requirement as there is with Lloyds Vantage? And an increase in monthly funding? Anything else?

I would hope not given their commitment to 'none of the usual funny stuff'

B_G_B

YorkshireBoy wrote: »

A question for those who've received letters...


I don't have any Enhance accounts myself, but just out of interest is there also going to be a '2 DDs to pay out each month' requirement as there is with Lloyds Vantage? And an increase in monthly funding? Anything else?

Excerpt from TSB website.....
We haven't changed what you'll need to do to get this credit interest on your account. To earn credit interest, you must continue to pay at least £1,000 into your account each calendar month, and keep your account in credit during the monthly billing period.

Archi_Bald

Full details are on the "Enhance changes" tab on http://www.tsb.co.uk/current_accounts/enhance.asp

knack92

scoot65 wrote: »

Oh no! ...... I have 3 Enhance accounts maxed out and two Classic Plus accounts maxed out too.

I suppose it's a matter of time before BOS reduce their rates????

What makes you think that?

guitarman001

Because all banks are the same! They're trying to get us to shift our money into alternative investments and then hoover up the money cheaply when those investments tank.

This is bad news. I have £30k between 3 TSB and 3 BoS accounts. Where will I put it now?

Can you have 2 Santander 123 accounts? I note you need two direct debits... I'd maybe set up one (£1 per month) to a charity as I only have one direct debit. But add in the £2 per month fee and that's 12 * £3 = £36 a month fee, effectively. Definitely eats into the rate.