TSB rate dropping

YorkshireBoy

Be_Happy wrote: »

The e-mail goes on to say that they will be transferring any second single Classic Plus Accounts or second joint Accounts to another savings account.

My email doesn't. It says they "may"...

$nake_eye$

FYI guys you might get a lot more of the TSB 5% interest rate depending on when you opened the account:

If you opened your Classic Plus account before 1 June 2016, you'll stop earning the 5% cashback on 31 December 2016.

If you opened your Classic Plus account on or after 1 June 2016, you'll stop earning the cashback on 30 September 2017.

Kim_13

Maximum_Saving wrote: »

I read that the TSB Classic Plus Account will go from 5% to 3%. It will allow up to £1500. Right now it is £2000. I am very upset by this news. It will begin at the start of February next year. It is currently one of the best deals.

Received an email from them stating that the changes are effective from 4th January (so February will be the first payment at the reduced rate.)

Halifax Reward reduces from February.

MissTasmanian

$nake_eye$ wrote: »

FYI guys you might get a lot more of the TSB 5% interest rate depending on when you opened the account:

If you opened your Classic Plus account before 1 June 2016, you'll stop earning the 5% cashback on 31 December 2016.

If you opened your Classic Plus account on or after 1 June 2016, you'll stop earning the cashback on 30 September 2017.

Is this on the contactless transactions? So no word on if they'll drop it then

sheramber

Classic plus account pays interest on money held in the account, not cash back.

TSB contactless card pays cash back on £100 purchases

$nake_eye$

MissTasmanian wrote: »

Is this on the contactless transactions? So no word on if they'll drop it then

This is on the balance in the Classic plus acccount

SG27

Such a shame but inevitable i suppose. Wouldnt be suprised if tesco and nationwide follow too Need to find a home for £2000 now.

bossymoo

$nake_eye$ wrote: »

FYI guys you might get a lot more of the TSB 5% interest rate depending on when you opened the account:

If you opened your Classic Plus account before 1 June 2016, you'll stop earning the 5% cashback on 31 December 2016.

If you opened your Classic Plus account on or after 1 June 2016, you'll stop earning the cashback on 30 September 2017.

I only opened mine last month and my email says 4th Jan for the interest. But still 5% cash back on contactless payments up to £100 per month.

jimjames

$nake_eye$ wrote: »

This is on the balance in the Classic plus acccount

No it's not, based on the text you quoted. It specifically refers to cashback not interest

katejo

$nake_eye$ wrote: »

Thats bad news.. now im curious as to why i didnt get the email

I haven't had it either. Is the drop happening straight away?