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TSB Enhance - Rate drop

info_addict
info_addict Posts: 293 Forumite
in Savings & investments
Just had a letter stating that the Enhance account rate will drop to 0.75% from 3rd November.

Sad to think that I was thinking 1.5% was a good rate.
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Comments

  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    info_addict wrote: »
    Just had a letter stating that the Enhance account rate will drop to 0.75% from 3rd November.

    Sad to think that I was thinking 1.5% was a good rate.

    It seems like centuries ago that you could get over 7% in a savings account, doesn't it?
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    KRBS will pay 1.55% http://www.kentreliance.co.uk/Savings-Accounts/V09EN-Easy-access-account---issue-9

    You can apply online and manage the account online. Not sure how quick deposits and withdrawals are - they say withdrawals requested after 12pm will be processed on the next business day. Deposits can be made by debit card and by bank transfer. Debit card deposits show instantly, not sure about bank transfers.
  • FLAPJACK
    FLAPJACK Posts: 524 Forumite
    I had the same letter too, I suppose Lloyds and BoS will be doing the same shortly.


    Ironic thing this morning was that I had the letter telling me the rates were dropping on the Enhance accounts and in the same post I had a letter also from TSB offering me a loan of 15k @ 3.9%!
  • elektra
    elektra Posts: 1,361 Forumite
    Part of the Furniture Combo Breaker Cashback Cashier
    I think I have been on another planet for the last year. I can't remember whether I knew it had dropped to 1.5% last year. I haven't been visiting this board like I used to and don't remember reading a letter.

    Maybe I left money in there as had exhausted the other accounts.

    Hadn't got round to opening a Club Lloyds monthly saver - so that is next task, followed by a big clear up (closure) of old accounts.
  • badger09
    badger09 Posts: 11,642 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    elektra wrote: »
    I think I have been on another planet for the last year. I can't remember whether I knew it had dropped to 1.5% last year. I haven't been visiting this board like I used to and don't remember reading a letter.

    Maybe I left money in there as had exhausted the other accounts.

    Hadn't got round to opening a Club Lloyds monthly saver - so that is next task, followed by a big clear up (closure) of old accounts.

    You can open the Club Lloyds monthly saver online. Takes seconds:)

    Have you considered using some of your old accounts for switching bonuses, rather than simply closing them?
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    elektra wrote: »

    Hadn't got round to opening a Club Lloyds monthly saver

    Have you done the TSB Monthly Saver yet? It's max £250 a month but does pay 5%.
  • elektra
    elektra Posts: 1,361 Forumite
    Part of the Furniture Combo Breaker Cashback Cashier
    edited 27 August 2015 at 6:27PM
    badger09 wrote: »
    You can open the Club Lloyds monthly saver online. Takes seconds:)

    Ta for info, will do at weekend.
    badger09 wrote: »

    Have you considered using some of your old accounts for switching bonuses, rather than simply closing them?

    No I hadn't, already have an account at most places.:) Will have to have a look around to see who is paying switching bonuses, but most of my old accounts don't have anything to switch ( no regular SO or DDs).
    colsten wrote: »
    Have you done the TSB Monthly Saver yet? It's max £250 a month but does pay 5%.

    Thanks, another one for my list. I really have been dozing/ side tracked !
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    elektra wrote: »
    Will have to have a look around to see who is paying switching bonuses, but most of my old accounts don't have anything to switch ( no regular SO or DDs).
    You don't need SOs or DDs for all the offers.

    And for those you do need DDs for, they're very easy to set up. £100s to be had for very little effort!
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    elektra wrote: »
    I think I have been on another planet for the last year.
    Based on what you said, I can't really say I can disagree with you. Good to have you back now ;)
    elektra wrote: »
    No I hadn't, already have an account at most places.:) Will have to have a look around to see who is paying switching bonuses, but most of my old accounts don't have anything to switch ( no regular SO or DDs).
    You do not necessarily have to be a new customer to be eligible for a switching bonus. I would check e.g. Halifax and Nationwide.

    DDs are dead easy to get. Many people just have a couple of Tesco savings accounts as these will enable any number of DDs.
  • sjw1
    sjw1 Posts: 45 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 28 August 2015 at 10:42AM
    I have 5 Enhance accounts - but the .75% rate is too poor to keep them full.
    Time to transfer I think.
    I already have a (joint) Santander 123 account - can I have another?
    I already have a (joint) Lloyds Club account - can I have another?

    What other accounts are worth considering?
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