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2 TSb accounts, close 1 ?
DCFC79
Posts: 40,644 Forumite
I have 2 of the TSB Classic plus accounts opened in 2015, I only spend enough on 1 account to earn earn the cashback. I only get the 3% interest on the £1500 so is it worth closing it and moving the money elsewhere ?
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Comments
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That would depend on what you could make elsewhere, wouldn't it? And of course your own assessment of "worth".
What could you make elsewhere? Is it worth it?...to you.0 -
I would keep both open for now. TSB now limit the Classic Plus to one account per customer, unless the second one's a joint account, so if you close it and your circumstances improve in future, you wouldn't be able to open another Classic Plus account.0
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I have 2 of the TSB Classic plus accounts opened in 2015, I only spend enough on 1 account to earn earn the cashback. I only get the 3% interest on the £1500 so is it worth closing it and moving the money elsewhere ?
I certainly wouldnt. Why not split the £1500 between the 2 accounts, £750 each then you don't need to worry about moving interest out each month. I have kept mine despite not having them full after clearing a credit card recently.Remember the saying: if it looks too good to be true it almost certainly is.0 -
YorkshireBoy wrote: »That would depend on what you could make elsewhere, wouldn't it? And of course your own assessment of "worth".
What could you make elsewhere? Is it worth it?...to you.
To be honest I hadn't looked into it.I would keep both open for now. TSB now limit the Classic Plus to one account per customer, unless the second one's a joint account, so if you close it and your circumstances improve in future, you wouldn't be able to open another Classic Plus account.
Yes that was something that had crossed my mind, its not like I need to close the account or need the money.I certainly wouldnt. Why not split the £1500 between the 2 accounts, £750 each then you don't need to worry about moving interest out each month. I have kept mine despite not having them full after clearing a credit card recently.
Thanks for the replies, think I'll keep it open.0 -
I agree that keeping them open is the better option.
With the restrictions on how many accounts you can have it's better to hang on to them, than lose one and regret it.
Although there are a few better paying accounts out there, it's getting more and more challenging to find 3% or more at the moment.......and no signs it's going to get any easier in the near future
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