TSB rate dropping

mapk

colsten wrote: »

Afraid, the best you can find is that they don't "whip the five percent interest away after the first year". And that's only in the Marketing bumph, not in the T&Cs.

Doesn't this imply that they might possibly 'whip it away' after the second year, i.e. 24 months, not a mere 13? Perhaps they should have said at least until after the first year. A moot point anyway.

bigadaj

bumpercars99 wrote: »

Honestly that's a pretty pathetic argument considering that it wasn't even 13 months from when that statement was made to when the changes were announced... A true technicality.

I understand that they haven't breached their written terms and conditions but I would also argue that they haven't stood behind their advertising campaign. When that campaign was centred around the "tricks" that other banks pull, saying you won't drop the rate in 12 months then doing it in 13 is shameful.

Take it you don't deal with contracts in your personal or business life then.

Similarly I hope you don't vote on the basis of any political party's manifesto, as you might be similarly disappointed.

In any walk of life the statement that something will or won't be done needs to be read and interpreted on the basis that cynically the exact opposite may well occur immediately after any guaranteed period.

Take advantage of what is out there, and when it is withdrawn move on.

Eco_Miser

mapk wrote: »

Doesn't this imply that they might possibly 'whip it away' after the second year, i.e. 24 months, not a mere 13? Perhaps they should have said at least until after the first year. A moot point anyway.

The account had already been running for over a year when that bumph was posted, and the rate doesn't drop until 16 months after it's dated, so I can't see anything wrong with it.

teddysmum

adindas wrote: »

Exact wording
"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"

So it i not known yet whether they will convert it or not ....

They could mean that an alternative is to leave the account as it is, but with no 5% interest.