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

badger09

colsten wrote: »

You were supposed to blow your cash in the UK, not in that nasty EU

I'm doing my best to spread it around:p

UK airline, hotel & car parking, overpriced meal & drinks before the flight. Also using my UK credit card (though won't be paying any interest;)) and my UK PAYG phone.

And I bought some new clothes, which I didn't really need in UK:o
The rest is going towards the Greek economy.
Am I forgiven:D

System

He's enjoying his (soon to expire) freedom of movement rights
God bless Little England

colsten wrote: »

You were supposed to blow your cash in the UK, not in that nasty EU

aUser_2

Well, I've just had email confirmation from TSB that rates are falling. 3% on upto £1500 starting January 4th.

From the email:

We’re making some changes to your Classic Plus account. These changes will start from 4 January 2017. This email explains what these changes are and what you need to do next.

Your interest rate is reducing

Your Classic Plus credit interest rate is reducing. The table below shows you what your new interest rate will be:


Your current rate
5.00% AER/4.89% gross variable paid on balances up to £2,000

Your rate from 4 January 2017
3.00% AER/2.96% gross variable paid on balances up to £1,500

The way you earn interest on your account stays the same. You still need to pay in a minimum of £500 a month and be registered for Internet Banking, paperless statements and paperless correspondence. You also need to make sure you log into your Internet Banking at least once every 12 months. And if you have a joint account, both of you must log in.

Changes to your terms and conditions

Your Classic Plus terms and conditions are changing. From 4 January you’ll earn interest on balances up to £1,500. Another new condition is if you have more than one Classic Plus account in your sole name or more than one Classic Plus account in joint names, we may convert your additional account into an Enhance account or another current account from our range. We’ll give you at least two months’ notice before we do this.

We’ve attached a copy of your new terms and conditions.

If you have more than one Classic Plus account in your sole name or joint names, these changes apply to all of your accounts.

No_6

So you knew it was coming !
so what is new

teleaddict

I was expecting an interest rate cut, but wasn't keen on the reduction to £1500 and the amended terms to restrict a customer to only one classic plus account was a bit of a kick in the teeth...

katejo

I got my email about the £1500 limit and the reduction to 3% yesterday. The limit to 1 classic account is reasonable as that was only available to those who could have a single and joint account anyway.
I know that some managed to open 2 separate accounts but that was stopped some time ago.

EarthBoy

katejo wrote: »

I know that some managed to open 2 separate accounts but that was stopped some time ago.

You make it sound like those of us with two sole Classic Plus accounts used a loophole to get two. We didn't "manage" to get two, we got them fairly and squarely, because the original terms and conditions stated that you could have two sole accounts.

bigadaj

EarthBoy wrote: »

You make it sound like those of us with two sole Classic Plus accounts used a loophole to get two. We didn't "manage" to get two, we got them fairly and squarely, because the original terms and conditions stated that you could have two sole accounts.

Well it was a loophole, because it was closed.

dggar

bigadaj wrote: »

Well it was a loophole, because it was closed.

What!!!!!


Bit of Alice in wonderland thinking there.

badger09

bigadaj wrote: »

Well it was a loophole, because it was closed.

No. It was a change in the T&Cs, which TSB chose not to apply to existing account holders:)