TSB Classic Plus rate/limit changing

dreaming

So TSB have cut their rate on their Classic Plus account to 3% from January 2017. This will be payable on £1500 instead of the current £2000.


Oh well, it was good while it lasted.

GTR_King

O well I now need to move that money to another account which pays good interest

Silvertabby

Pity. we have 3 TSB accounts, currently getting 5% on £2K each - one each plus a joint account.

GTR_King

Shame as there no good interest rate current account at moment so might have to close it or just downgrade it to classic account

badger09

GTR_King wrote: »

Shame as there no good interest rate current account at moment so might have to close it or just downgrade it to classic account

Why? There is no account fee:cool:

neptcury

From an email I received

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.

The Enhance account pays 0.75% up to £5000

xylophone

we may

What on earth does this mean? We are permitted to? We shall? We might?

GTR_King

I know but 3% is rubbish o well

missile

neptcury wrote: »

From an email I received

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.

The Enhance account pays 0.75% up to £5000

I have 6 Classic Plus and have not received this e mail ............... yet

YorkshireBoy

xylophone wrote: »

What on earth does this mean? We are permitted to? We shall? We might?

1 and 3, but not 2 (but you knew that anyway).


Lots of banks have similar wording in the T&Cs (Santander & Halifax spring to mind), but they don't always carry out their threats...at least haven't done yet anyway.

Dan83

Nothing lasts for ever and 3% is still better then nothing. I will of got 12 months out of mine. I'll put the spare £500 in P2P.