What's the best way to save, ISA or 5% interest account?

lanceuppercut

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#tsb

HOW DO I EARN THE INTEREST?

The interest's paid provided you pay in £500 each month. The £500 must come from an external source, ie, via cash, cheque or transfer from any other provider other than TSB. You must also set up online banking with paperless statements.

This is why I was insistent on transferring from my main account to TSB but if this is the case then that page has wrong information!

colsten

Unfortunately, the page you referenced does have incorrect and incomplete information, not in line with the T&Cs.

The minimum monthly deposit does not have to come from a non-TSB account - if it had to, the T&Cs would say so.

If you want to receive interest (and who wouldn't), it is also not sufficient to set up paperless statements. You need to set up both, paperless statements as well as paperless correspondence, as specified in the T&Cs.

This is a great example for why you should always go by the T&Cs and not by something you read on a random website, incl. MSE and incl. my posts on this forum.

http://www.tsb.co.uk/legal/current-accounts/plus-account/plus_terms_and_conditions.pdf