TSB Classic Plus tips

fromtheshires

The details they will send in the post will allow you to then set up your standing orders / direct debits etc. You will be able to log onto banking but your functionality and availability to do things will be impeded until you enter the info they post out to you

wallofbeans

MrRee wrote: »

You can find all the answers with a simple google on NS&I and Virgin Money NISA ....

Hmm. The Virgin Money site doesn't mention anything with a 1.7% rate.

I did find out that a NISA is just a new ISA though!

wallofbeans

fromtheshires wrote: »

The details they will send in the post will allow you to then set up your standing orders / direct debits etc. You will be able to log onto banking but your functionality and availability to do things will be impeded until you enter the info they post out to you

Ah, so I can send 2k to the account and £500 to come in every month but just have to wait before I can set it up to go out again?

Archi_Bald

MrRee wrote: »

Remember if you're married you can open THREE 1-2-3 Accounts and have £20k in each!

You don't need to be married to have joint accounts. Though joint accounts do come with added terms that need to be understood before committing.

YorkshireBoy

wallofbeans wrote: »

How should I set up the TSB to work best? I need to bounce £500 into it each month. I am thinking that on payday I'll send £500 from the HSBC to the TSB and then from TSB to Santander.

But Santander is full you say...so you'd need to transfer some/all of it out again?


Why not simply set up a pair of cross-firing £500 SOs between TSB and Santander?...and put your HSBC cash somewhere else?

wallofbeans

YorkshireBoy wrote: »

But Santander is full you say...so you'd need to transfer some/all of it out again?


Why not simply set up a pair of cross-firing £500 SOs between TSB and Santander?...and put your HSBC cash somewhere else?

But where?

NoMore

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

Probably nationwide next but its 5% offer is only for a year from account opening.

YorkshireBoy

wallofbeans wrote: »

But where?

Aside from the 5% and 4% accounts already suggested above you mean? Well I suppose you could settle for 3% at Tesco or BoS, but the latter would need a £3K balance transferred from Santander.

wallofbeans

And bank accounts are a better idea than ISAs or anything else?

YorkshireBoy

wallofbeans wrote: »

And bank accounts are a better idea than ISAs or anything else?

Depends on your short, medium, and long term objectives, your tax rate, your pension provisions, and the amount you can save each year.


What are they?