TSB Regular Saver/Monthly Saver

Placitasgirl

My TBS Regular Saver matured yesterday and has today converted to a Monthly Saver Account as expected.

If I leave the accrued balance of £3k here will it, along with new monthly savings added after today earn 2% interest, or will that only be paid on future monthly contributions to this "new" account and not on the "inherited" balance? I have checked the T's and C's but still unclear on this and deciding how to proceed.

Thanks in advance for your help.

joe134

Placitasgirl wrote: »

My TBS Regular Saver matured yesterday and has today converted to a Monthly Saver Account as expected.

If I leave the accrued balance of £3k here will it, along with new monthly savings added after today earn 2% interest, or will that only be paid on future monthly contributions to this "new" account and not on the "inherited" balance? I have checked the T's and C's but still unclear on this and deciding how to proceed.

Thanks in advance for your help.

only on new RS, which are not to this a/c, but, to new RS, if you set another one up?.
I intend moving my matured balance from MSA to another A/c.
it pays very little

Placitasgirl

Thanks for the prompt response Joe.

My plan was exactly that; to open a new RS today and begin contributions to it, but nowhere on the site is the option to open a new a RS available to me.....

The interest rate being quoted for the Monthly Saver is 2%, which isn't great but as I'm maxed out with NW and Club Lloyds will do for now.

eskbanker

Placitasgirl wrote: »

My TBS Regular Saver matured yesterday and has today converted to a Monthly Saver Account as expected.

This sounds like mistaken identity to me - TSB's regular saver account is branded as Monthly Saver and as far as I'm aware always has been, so I don't think you can convert from one to the other as they're the same thing! On maturity they convert to an Easy Saver at something like 0.4% interest, the 2% is the current rate for their only regular saver product, i.e. Monthly Saver (which used to be 5% until a couple of months ago).

Placitasgirl

Thank you so much eskbanker, you're right - I've confused this account name with my NW holdings and hadn't updated my interest details. Doh !