Top Bank Accounts Discussion Area

polymaff

greensalad wrote: »

Also, how can I work out the AER on 75p per day? Is the rate better?

As you are aware, this isn't an AER/APR-derived figure, but as you'll pay about £270 per annum to borrow that £1,000 you'll have some idea - ouch!

greensalad

polymaff wrote: »

As you are aware, this isn't an AER/APR-derived figure, but as you'll pay about £270 per annum to borrow that £1,000 you'll have some idea - ouch!

Thanks. I'm working hard to pay it off but obviously jumping banks if I can get a better rate along the way is all good with me and will help me pay it off quicker.

polymaff

greensalad wrote: »

Thanks. I'm working hard to pay it off ...

Are you, really? Could you really not earn more? Have you nothing that you could sell? Do you only spend on absolute essentials?

If you get a lower rate than 27%, is that really a long-term solution?

(unless, of course, you are using that £1,000 to directly earn a good deal more than £270 per annum )

System

I already have a 'Premier Plus' account with TSB (from the LloydsTSB days) but would like to know if I can transfer from the PP account to the 'new' Classic Plus using the link provided for this account transfer for the £100 for transfering + 5% interest etc?

Presently the Premier account costs me £25 month (£300 pa) for the 'benefits' that the account comes with but the CP would cost me £17 month/£204 pa. But can I transfer from an existing TSB account to a new TSB account?

The ONLY reason I took the Premier account (many years ago) was that I needed a larger overdraft which the existing 'old' account didn't have. Not sure if this would be a valid enough reason to try the present 're-claim' for bank accounts that is happening at the moment?

Archi_Bald

To get a bonus payment, you must switch a current account to another bank.

enthusiasticsaver

For anyone who is in the process of switching to First Direct there is a delay in the welcome email going out to start the switch process. Just got off the phone to them and they are working on applications made on 11th January so a week ago. Mine made on 12th so hopefully will initiate tomorrow. Just trying to avoid the Santander 123 fee on my existing current account which is due on 29th Monthly.

polymaff

Archi_Bald wrote: »

To get a bonus payment, you must switch a current account to another bank.

.. and you need to get the MSE links to work

System

Archi_Bald wrote: »

To get a bonus payment, you must switch a current account to another bank.

And not transfer a joint account - - - as I later found when digging deeper!

System

polymaff wrote: »

.. and you need to get the MSE links to work

What! They don't work? Well...

auchtieman

Just to pitch in on First Direct. Yes, always very polite on the phone (and they do answer eventually, unlike some others) but I'm in the middle of a switch from Santander 123 (annoyed about the charge hike) and it's not going well so far. Forget 7 days and be ready for a long drawn out affair, several phone calls ("currently experiencing a high volume") and a missed switching date which has caused quite a bit of angst.