TSB cutting enhance rate?

Archi_Bald

missile wrote: »

I would like to test the water first.

You'll be just fine with your 123 "savings" account. There are about half a million happy 123 customers, and a handful of die-hard Santander haters who occasionally pop up to tell everyone how awful Santander are. A very credible lot, not.

To avoid disappointment, just make sure you fulfill the pre-reqs for getting interest.

anna42hmr

Archi_Bald wrote: »

Don't you have any better than a 1.5% account as a feeder account?

i might do I will have to double check the other normal savings accounts i have before the rate drops to see if theres a better option (I currently use the tsb enhance as it is as a feeder at the current 3%)

without opening the santander 123 one will have exhausted all other limits can have at the moment for the current accs where the better rates generally are as I already have maximum number can have of TSB plus, lloyds club, Yorkshire bank, and have applied for 2x Tesco current accs (and cannot try to open another nationwide flex direct acc until april next year as thats the anniversary old one was closed on).

I have been holding back on applying for santander 123 due to the £2 charge (moved back home with parents for a while so can save for deposit, but that means only phone bill in my name so the cash back on that would not cover the fee etc)

Archi_Bald

anna42hmr wrote: »

I have been holding back on applying for santander 123 due to the £2 charge (moved back home with parents for a while so can save for deposit, but that means only phone bill in my name so the cash back on that would not cover the fee etc)

Could you offer your parents pay one or more of their bills by DD from your 123? It's certainly technically possible though may be they have their own 123(s)?

It seems just such a waste to keep any money in a sub-inflation account.

You don't mention BOS Vantage unless I overlooked it - a "clean" 3%er still on sale, may be another option for you?

anna42hmr

Archi_Bald wrote: »

Could you offer your parents pay one or more of their bills by DD from your 123? It's certainly technically possible though may be they have their own 123(s)?

It seems just such a waste to keep any money in a sub-inflation account.

You don't mention BOS Vantage unless I overlooked it - a "clean" 3%er still on sale, may be another option for you?

they have 123 themselves unfortunately so couldn't take on their dd's, that said i did not realise that BOS still did vantage as i assumed they were pulled at the same time as lloyds did, will have a look at that, thank you.

joe134

guitarman001 wrote: »

Tesco only do 3% if the dosh is locked away for 5 years.
I already have two 5% TSB accounts, the high % Nationwide account, and a few others. Used to do First Direct but I didn't think it was worth it, can't be bothered with the faff that is Club Lloyds.. it's getting pretty dire!

I Moved my 3 x £5 from lloyds to Tesco, saver A/cbut, left £1 in each.
.got 3 Enhance and 3 Bos, but, no point moving them from one A/c to another that pays same interest;so will leave tsb/bos alone unless I require it.

got all other a/cs, 123's
like others, sick of changing, but, it's getting harder.only so many dd's and won't use charities to change a/c,not fair
Does Tesco have it's own licence, or is it part of another group??? £85k

talexuser

joe134 wrote: »

Does Tesco have it's own licence, or is it part of another group??? £85k

It has it's own license for 85k.

joe134

knack92 wrote: »

BoS is a separate bank from TSB and unlike it and Lloyds Bank hasn't recently launched a new interest paying current account. BoS is still running print advertising for the Vantage account so I doubt it's going anywhere soon.

" BoS is still running print advertising for the Vantage account so I doubt it's going anywhere soon".
So was FD when they knew they were dropping their Isa rates.
No point BOS paying more than the rest now.

veryintrigued

Being lazy here but can anyone tell me if these Enhance accounts incur a fee if they are not funded i.e. they can be left dormant from early November without charge.

No worries if not I'll revisit the T&Cs but cheers in advance anyway.

Ed-1

veryintrigued wrote: »

Being lazy here but can anyone tell me if these Enhance accounts incur a fee if they are not funded i.e. they can be left dormant from early November without charge.

No worries if not I'll revisit the T&Cs but cheers in advance anyway.

No fees, just no interest. The T&Cs are a carbon copy of the old Lloyds and current BOS Vantage accounts as these accounts were formerly Lloyds TSB Vantages.

Archi_Bald

Ed-1 wrote: »

No fees, just no interest. The T&Cs are a carbon copy of the old Lloyds and current BOS Vantage accounts as these accounts were formerly Lloyds TSB Vantages.

They started out as carbon copies of the old Lloyds TSB Vantage accounts but they are no longer. If you really wanted to continue to get interest, albeit much lower, on the Enhance, all you needed to do is (continue) to pay in £1K a month. On the Lloyds Vantage, this would now not suffice to get interest. And the BOS Vantage still pays 3% if you qualify, and applications are still open. So none of these 3 are still the same now.