Multiple TSB Savings accounts?

xbethany

Are you 'allowed' to have more than one savings account with TSB? I have the Classic Plus current account and the Monthly Saver savings account, but the £250 maximum isn't really enough, and because I'm not earning interest on over £2000 in my current account I don't want to have money 'doing nothing'.

Would I be able to open an eSavings account now, then at the end of the year open a fixed bond? That would mean I have a total of three savings accounts. Are you able to do that?

masonic

There should be no issue opening those additional savings accounts. However, I'm not sure why you wouldn't just go with the best available accounts of each type, rather than keeping everything with TSB.

robotrobo

xbethany wrote: »

Are you 'allowed' to have more than one savings account with TSB? I have the Classic Plus current account and the Monthly Saver savings account, but the £250 maximum isn't really enough, and because I'm not earning interest on over £2000 in my current account I don't want to have money 'doing nothing'.

Would I be able to open an eSavings account now, then at the end of the year open a fixed bond? That would mean I have a total of three savings accounts. Are you able to do that?

hi.
as a married couple we have 6 with help from the people on this forum, so it looks like 2 each & 2 joint account.

badger09

robotrobo wrote: »

hi.
as a married couple we have 6 with help from the people on this forum, so it looks like 2 each & 2 joint account.

I think you have misunderstood OP's question;)

Also, she might not want to/be in a position to open joint accounts.

xbethany - have a look at the many other current accounts paying decent interest before you settle for TSB's other savings accounts..

YorkshireBoy

robotrobo wrote: »

hi.
as a married couple we have 6 with help from the people on this forum, so it looks like it was 2 each & 2 joint account when we opened ours some time ago.

Corrected that for you.

xbethany

badger09 wrote: »

xbethany - have a look at the many other current accounts paying decent interest before you settle for TSB's other savings accounts..

I have the Santander Graduate Account, but that too only earns you interest on the first £2000 (3%). I can't get the Santander 123 because I don't have enough direct debits (I live with my parents so just pay my share of the bills + digs to them directly, the only bill I pay myself is my phone, and that's only £10.33 a month).

I'm worried that opening a third current account may confuse me, haha, and that I won't be able to meet the minimum pay-in for the higher interest current accounts, (I only earn about £1000 a month).

puk999

The Nationwide FlexDirect isn't a bad account. Pays you 5% on balances up to £2500 for a year. It then goes to 1%. Minimum £1000/month pay in. No DDs required

Create a spreadsheet which you open every month and tick off the transfers as you go. I get paid on the 14th, so on that day I open the spreadsheet, then go from top to bottom transferring money from one to the other (or from my main account to each entry then back again), ticking each off as I go. For me, that's removed the worry of forgetting to do one.

puk999

xbethany wrote: »

I'm worried that [...], and that I won't be able to meet the minimum pay-in for the higher interest current accounts

You have at least £2k in your TSB which can be used to meet the minimum pay ins.

xbethany

puk999 wrote: »

Create a spreadsheet which you open every month and tick off the transfers as you go. I get paid on the 14th, so on that day I open the spreadsheet, then go from top to bottom transferring money from one to the other (or from my main account to each entry then back again), ticking each off as I go. For me, that's removed the worry of forgetting to do one.

I've heard about people doing this, but do banks not get suspicious that the minimum pay-in amount goes in the comes straight back out again?

EarthBoy

xbethany wrote: »

I've heard about people doing this, but do banks not get suspicious that the minimum pay-in amount goes in the comes straight back out again?

They might do, but unless there's a clause in the terms and conditions forbidding it, they can't deny you the joining bonus.

They might decide that they don't want your customer anymore and close your account, but any bank can do that at any time.

Gurberly

Where I have been short of a direct debit or two, I 've set them up with the charity Woodlands Trust, Easy enough to set up online and you can do as little as £1 a month.


OK so its money going out, but it is more than offset by the additional interest and it is going to a good cause (Just make sure you tick all the correct boxes about not sharing information with other businesses).


I've not had any issues with an increase in junk mail or e-mails - I also put down the Trusts own telephone number rather than my own....


Dave