Is TSB about to become the next bank to slash savings rates?

Former_MSE_Faye

It appears the bank is reviewing the 5% rate it pays out to savers on its best-buy Classic Plus account...

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'Is TSB about to become the next bank to slash savings rates?'

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harz99

IMHO they are either looking to drop rates ala Santander, or they may be looking to shed customers who are unproductive for them, or quite probably both.


Either way don't make their job easier by completing the bank 's questionnaire!

karlie88

harz99 wrote: »

Either way don't make their job easier by completing the bank 's questionnaire!

Why not?

I would rather get 3.5% on my money compared to 2%. If we don't complete the questionnaires how would they know our preferred rates of interest?

kingrulzuk

o dear :eek:

dggar

harz99 wrote: »

IMHO they are either looking to drop rates ala Santander, or they may be looking to shed customers who are unproductive for them, or quite probably both.


Either way don't make their job easier by completing the bank 's questionnaire!

How will completing/not-completing make their job easier/harder?

GingerFurball_2

Great, more useless speculation from MSE.

harz99

karlie88 wrote: »

Why not?

I would rather get 3.5% on my money compared to 2%. If we don't complete the questionnaires how would they know our preferred rates of interest?

They already know that - the rate you are currently getting of course (or more but...).


No need to help with their decision to reduce, no need to provide the statistics to back it up when they announce a reduction in interest as being acceptable in the current climate.

harz99

GingerFurball wrote: »

Great, more useless speculation from MSE.

Yes, I had that thought as well - thanks.

Kim_13

It's a shame that they don't seem to be acting on changing/charging for second accounts and seeing how the land lies in a few months. Inflation will creep in and interest will go back up.

ceredigion

Kim_13 wrote: »

It's a shame that they don't seem to be acting on changing/charging for second accounts and seeing how the land lies in a few months. Inflation will creep in and interest will go back up.

You have posted similar before and seem to have a bee in your bonnet with regard those of us with multiple accounts.
It was within the rules. If you missed it that is your fault not mine.

Pincher

In a vain attempt to keep the goodies, we should say we will hold our breaths until we go blue in the face, and then slash our wrists if they take away the 5%.