TSB cutting enhance rate?

anna42hmr

Thanks for the replacement suggestions have managed to open 3 bos vantage accounts (though it did confuse me at the start when i tried to register for internet and it told me already registered, didn't realise it would use the same log in details as the halifax online banking) and have managed to open 2 tesco accounts.

swagman

My three Classic Vantage accounts, formerly Lloyds TSB, now TSB, are still paying 3% on £3000 to £5000 balances. No letter about any change or about the accounts being renamed.

10_66

swagman wrote: »

My three Classic Vantage accounts, formerly Lloyds TSB, now TSB, are still paying 3% on £3000 to £5000 balances. No letter about any change or about the accounts being renamed.

The Lloyds Vantage accounts reduced their interest rates on 2 July. The TSB Enhance are due to reduce their rates on 4 November. I have 3 TSB Enhance accounts, and I haven't received a letter either, but TSB website confirms the rate reduction for November.


http://www.tsb.co.uk/assets/pdf/current-accounts/legacy-accounts%20-interest-bearing-rates-v1.0.pdf




...

anna42hmr

The letter have been sent in batches as per my local branch, mine arrived in the post today.

typistretired

Missed this thread as it was in savings and investments and only looked on budgeting and bank accounts threads. Well done for letting everyone know early - not been on here for a while due to summer holidays and grandkids. Spreadsheet marked to move out when interest drops. Lets hope Bank of Scotland don't follow.

anna42hmr

typistretired wrote: »

Missed this thread as it was in savings and investments and only looked on Banking section. Well done for letting everyone know early - not been on here for a while due to summer holidays and grandkids. Spreadsheet marked to move out when interest drops. Lets hope Bank of Scotland don't follow.

Hopefully bos won't as 1. They are separate bank to Tsb one and 2 unlike Lloyds and Tsb don't have a newer competitive product ( ie Lloyds with club and Tsb with plus)

Middle_Sister

anna42hmr wrote: »

got mine, off now to open two tesco accounts to replace them! looking at the account 3% no direct debits needed and £750 pay in per month (£5 charge if don't pay the £750 in) though i can't make up my mind if can be internally or if it needs to be externally

to be honest only a matter of time that they changed the rates at tsb on the account, it was pulled from sale several months ago, and they are now concentrating on the Plus account, so it was nice whilst it lasted. May keep some money one of the enhance accounts and use as a feeder for the lloyds club monthly saver account that i opened a while back.

Tesco must have just changed their requirements i.e. not having to have 2 DD a month. Might be worth a look.

colsten

Middle_Sister wrote: »

Tesco must have just changed their requirements i.e. not having to have 2 DD a month. Might be worth a look.

Tesco never needed 2 DDs a month.

vixen1500

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.

Just wondering if it is worth leaving these accounts open in the hope that they might change the rates again. Will switch one to Santander via TCB. Do the banks close accounts if not used for a while?

eskbanker

Practically negligible chances of these accounts being changed to increase rates again, they'd introduce a new account type as they have done for Classic Plus in my opinion. No harm in leaving them (they won't close them without your consent) and they may come in handy as donor accounts for other switches now or in the future.