TSB Classic Plus - not paying interest on second account

Anthorn

JustAnotherSaver wrote: »

Nice try at being a wiseguy

Of course money needs to be left in an account to earn interest.

However the money you put in the account to hit the interest criteria (some have £500 per month, some £1000, some £1500 etc) does not have to stay in the account. It can simply be dipped in & whipped out as quick as you like.

But then you'll have known that anyway. You just wanted to be a wiseguy eh

Now we're back to square one. When I said money had to be left in an account to earn interest you replied that was "utter rubbish". But now you say it has to be left in the account to earn interest. So now I say again that if you put money in and then take it out as you say in the opening post, you're not likely to earn interest if at all. I wonder if you are again going to say that is "utter rubbish"?

btw I object to being called a "wise guy". I was being sarcastic.

Fletchasketch

Wow what an unneccesarily nasty and aggressive thread. No need.

teddysmum

The bickering going on above is likely to confuse people new to the use of interest paying current accounts, so simply:


The TSB account referred to pays interest on up to £2000 and no more, so if one has £2000 to save, leave the £2000 in place and just pay in and immediately out the required £500, as this money will not earn interest.


However, if there is £1500 or less in the account, to earn more interest the £500 needs to be left longer.(You could if there is no £500 float from other accounts, withdraw the £500 then put it back immediately, so £500 goes in each month, as required).

alternate

bigadaj wrote: »

Yes, but there are frequent queries here on that exact point, people honestly think you can bounce money in and out with zero balance, or put money in at the end of the year and get the full interest.

Can you link to one? Not sure anyone thinks that.

Archi_Bald

alternate wrote: »

Can you link to one? Not sure anyone thinks that.

There have been several such posts. I don't think they are worth digging out, not least as the posters should be spared further embarrassment.

Yorkshire_Pud

I hate this inchoate thread and wish it could be deleted as it serves no good purpose whatsoever. The OP admitted the answer was they hadn't opted for paperless, doh!:o the question didn't need asking and its bringing out the worst in some people.

JustAnotherSaver

Fletchasketch wrote: »

Wow what an unneccesarily nasty and aggressive thread. No need.

If that's aimed my way (& it usually is) then you'll have to forgive me, i get a little tired of the constant 'sarcasm' (& the rest of it - generally unhelpful replies with no effort whatsoever at answering the question at hand ... and for that i'm not just talking about this thread but many over time & i'm not just talking about mine either as i see it happening with others too).

Whatever happened to just asking a question, having a question answered & all the 'funny business' removed? I don't mind a laugh & a joke, but it's the blatant no effort at answering the question ones that really irritate - that is the REAL 'no need'!

Fletchasketch

JustAnotherSaver wrote: »

If that's aimed my way (& it usually is) then you'll have to forgive me, i get a little tired of the constant 'sarcasm' (& the rest of it - generally unhelpful replies with no effort whatsoever at answering the question at hand ... and for that i'm not just talking about this thread but many over time & i'm not just talking about mine either as i see it happening with others too).

Whatever happened to just asking a question, having a question answered & all the 'funny business' removed? I don't mind a laugh & a joke, but it's the blatant no effort at answering the question ones that really irritate - that is the REAL 'no need'!

It wasn't actually, it was aimed at the general tone of the thread. I don't think you asked an unreasonable question, and you can't control the daft responses (no names!) but what you can is how you react.

alternate

It got a bit catty but I think you are over reacting. I suggest never ever visiting a politics message board

Fletchasketch

Haha, if you say so. From the looks of it, I think there might be one or two who agree with me though ;-)

As an aside, the Nationwide account has a great account with a regular saver at 5%. £8500 at 5% is alright in my book!