Don't forget TSB Plus Interest and eligible amount going down on 4 Jan 2017

Frogletina

Yorkshire_Pud wrote: »

Well the Cashback is all but done for many of us and on 4th January 2017 the eligible amount for the new lower 3% interest rate reduces from £2,000 to £1,500.

Well it was good while it lasted and its still not bad compared to most other offers;)

Thanks for the reminder

I will move £500 on 4th January from my two accounts to my Santander account which has dipped under the maximum.

I have opened two Virgin regular savers which will reduce my Santander balance further but which will give me 2.25%.

It will seen strange using my Santander as my main account - I used to use my Vantage account to top up all of my accounts to the maximum each month, but with all of my regular savers I cannot keep my Santander at its max any more. As each regular saver pays out it will be returned to Santander and so the circle begins again.

frogletina

gt94sss2

Frogletina wrote: »

It will seen strange using my Santander as my main account - I used to use my Vantage account to top up all of my accounts to the maximum each month, but with all of my regular savers I cannot keep my Santander at its max any more.

Given Santander now only pay 1.5% I suspoect quite a few people are closing there accounts or keeping a lot less in them then they used too..

mt99

If anyone tries closing their TSB account after the 3rd Jan and reopening it (to get the 5% contactless back until September) would they please let us know if successful or not!

bigadaj

mt99 wrote: »

If anyone tries closing their TSB account after the 3rd Jan and reopening it (to get the 5% contactless back until September) would they please let us know if successful or not!

Yes, would be interesting.

I've not benefitted from a TSB switching bonus as yet so should this pop back up in the next couple of months then I'll close mine and take advantage.

I didn't renew my regular saver at 2% and now think this is probably a good move, may well open one if the switching offer pops back up and contactless cashback would be a useful bonus, if available!

katejo

Frogletina wrote: »

Thanks for the reminder

I will move £500 on 4th January from my two accounts to my Santander account which has dipped under the maximum.

I have opened two Virgin regular savers which will reduce my Santander balance further but which will give me 2.25%.

It will seen strange using my Santander as my main account - I used to use my Vantage account to top up all of my accounts to the maximum each month, but with all of my regular savers I cannot keep my Santander at its max any more. As each regular saver pays out it will be returned to Santander and so the circle begins again.

frogletina

I have 1 newly opened Virgin Regular saver but it hadn't occurred to me that I would be allowed 2. My TSB monthly saver comes to an end in January so I am thinking about what to do with that money (other than start a new monthly saver at the lower rate).

Westie983

veryintrigued wrote: »

... and not forgetting Halifax reward reducing to £3 a month around this time too!

This changes on 1st February, so first £3 will be on the 2nd working day of March, backdated to the 1st.

YorkshireBoy

Westie983 wrote: »

This changes on 1st February, so first £3 will be on the 2nd working day of March, backdated to the 1st.

I have it down as a month earlier, being as Halifax say...

We are making a change to the terms and conditions that apply to our Reward Current Account. The amount of the reward payment we pay on our Reward Current Account is being reduced from £5 to £3 starting with the monthly reward payment paid on or after the 1st February 2017.

Westie983

YorkshireBoy wrote: »

I have it down as a month earlier, being as Halifax say...

Thats correct the first £3 will be for the month of February, paid on the 2nd of March

2nd January will be for the payments and credits made in Dec 2016
2nd February will be for the payments and credits made in Jan 2017
2nd March will be for the payments and credits made in Feb 2017

The reward changes in February so the first month of reduced payments will be March, for the previous month.

Its paid in arrears of the month before, so therefore the reward payment paid in February will be from January.

YorkshireBoy

Westie983 wrote: »

Thats correct the first £3 will be for the month of February, paid on the 2nd of March

2nd January will be for the payments and credits made in Dec 2016
2nd February will be for the payments and credits made in Jan 2017
2nd March will be for the payments and credits made in Feb 2017

The reward changes in February so the first month of reduced payments will be March, for the previous month.

Its paid in arrears of the month before, so therefore the reward payment paid in February will be from January.

I don't agree, and nor does the MSE editorial...

MSE_Editorial wrote:

Need-to-knows

• The £5/mth reward is being cut to £3/mth from February 2017, so you'll only get a £5 reward payment in January

But lets look at the Halifax wording again, this time with a change of emphasis...

Halifax wrote:

being reduced from £5 to £3 starting with the monthly reward payment paid on or after the 1st February 2017.

The Reward payment paid on or after 1st February is for January...yes?

It will be £3...yes?

djpailo

3% is still quite good. I forgot that it will be only up to £1500 though.

My monthly saver just matured, got ~£92