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TSB Classic Plus rate/limit changing

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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.
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Comments

  • GTR_King
    GTR_King Posts: 1,986 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    O well I now need to move that money to another account which pays good interest
  • Silvertabby
    Silvertabby Posts: 10,138 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Pity. we have 3 TSB accounts, currently getting 5% on £2K each - one each plus a joint account.
  • GTR_King
    GTR_King Posts: 1,986 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    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
    badger09 Posts: 11,578 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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
    neptcury Posts: 14 Forumite
    Part of the Furniture Combo Breaker
    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 :cry:
  • xylophone
    xylophone Posts: 45,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    we may

    What on earth does this mean? We are permitted to? We shall? We might?
  • GTR_King
    GTR_King Posts: 1,986 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    I know but 3% is rubbish o well
  • missile
    missile Posts: 11,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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 :cry:

    I have 6 Classic Plus and have not received this e mail ............... yet
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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
    Dan83 Posts: 673 Forumite
    Eighth Anniversary 500 Posts Combo Breaker
    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.
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