TSB Classic Plus - not paying interest on second account

JustAnotherSaver

I've had 2 solo accounts for a little while now & they both pay interest.

My wife recently (couple month ago or so) opened her second solo TSB Classic Plus account. £1,000 gets cycled through all the accounts that require it & this has had £1,000 put in & taken out.

It's received no interest, yet her older account which gets the same treatment did get interest.


My brother also opened a second solo account. Exact same thing. His 'original' account gets interest no problem but this second solo account received nothing.

Did they stop paying out on secondary solo accounts after a certain date (because like i said, i get paid on mine).

Ed-1

JustAnotherSaver wrote: »

I've had 2 solo accounts for a little while now & they both pay interest.

My wife recently (couple month ago or so) opened her second solo TSB Classic Plus account. £1,000 gets cycled through all the accounts that require it & this has had £1,000 put in & taken out.

It's received no interest, yet her older account which gets the same treatment did get interest.


My brother also opened a second solo account. Exact same thing. His 'original' account gets interest no problem but this second solo account received nothing.

Did they stop paying out on secondary solo accounts after a certain date (because like i said, i get paid on mine).

Besides the fact you're only meant to have 1 sole Classic Plus account now, have they turned on paperless statements and correspondence as well as putting £500 through the account in a monthly billing period?

JustAnotherSaver

The £500 is covered.

I'll tell them to take a look at the paperless statements. It's been that long since i set up mine that i'd totally forgotten about that requirement. Thanks.

And what you're meant to have & what you can have ...

youngretired

Customers were allowed 2 of each accounts (2 sole and 2 joint) when they 1st introduced this account in 2014.

I think it was at the end of last year that they changed it that new/existing customers could only have 1 sole and 1 joint if applying after this date.

If you had opened your accounts before this new T&C came in then you are able to keep them all and are entitled to the 5% interest.

xylophone

When this account was introduced, it was possible to open a couple of sole accounts and receive the 5% interest on both.

After a certain point, TSB no longer permitted this, although those who already had two were permitted to keep them on the same terms.

More minus than plus...:(

As your brother and wife have only very recently opened second accounts, they won't get the 5% on them?

Kim_13

The rules changed around September/October 2014, if I recall. From what I read on here, there was a small window for those with one account to get a second after that date.

By the time I applied for mine in December 2014, it was one sole only.

ffacoffipawb

Kim_13 wrote: »

The rules changed around September/October 2014, if I recall. From what I read on here, there was a small window for those with one account to get a second after that date.

By the time I applied for mine in December 2014, it was one sole only.

I have three and they all pay 5%. All were ex Lloyds TSB Vantage which I converted to Plus post the split from Lloyds. The conversions were made on-line.

alternate

Call them and ask them.

No being facile - just nobody here seems to know what has happened.

badger09

JustAnotherSaver wrote: »

I've had 2 solo accounts for a little while now & they both pay interest.

My wife recently (couple month ago or so) opened her second solo TSB Classic Plus account. £1,000 gets cycled through all the accounts that require it & this has had £1,000 put in & taken out.

It's received no interest, yet her older account which gets the same treatment did get interest.


My brother also opened a second solo account. Exact same thing. His 'original' account gets interest no problem but this second solo account received nothing.

Did they stop paying out on secondary solo accounts after a certain date (because like i said, i get paid on mine).

T&Cs changed October 2014:cool:

http://www.moneysavingexpert.com/news/banking/2014/10/planning-on-getting-a-tsb-current-account-do-it-now-if-you-want-to-open-four

badger09

alternate wrote: »

Call them and ask them.

No being facile - just nobody here seems to know what has happened.

It doesn't look as if anything has happened, which is in accordance with the T&Cs

Anthorn

JustAnotherSaver wrote: »

I've had 2 solo accounts for a little while now & they both pay interest.

My wife recently (couple month ago or so) opened her second solo TSB Classic Plus account. £1,000 gets cycled through all the accounts that require it & this has had £1,000 put in & taken out.

It's received no interest, yet her older account which gets the same treatment did get interest.


My brother also opened a second solo account. Exact same thing. His 'original' account gets interest no problem but this second solo account received nothing.

Did they stop paying out on secondary solo accounts after a certain date (because like i said, i get paid on mine).

If as you say the £1000 has been put in and taken out it's not likely to earn very much interest if at all. You have to leave the money in there for it to earn interest.