TSB Interest Increased??

supershrimper

I have just checked my interest today for my 2 TSB accounts. Both have had the ful £1,500 in them but both have only earnt £3.41 in interest.

I was under the impression that they was raising the interest they paid on the current account to 5% from the 3% from the 2nd May 2018?

If thats true the interest would be around the £6.00 mark (£1,500 x 5% = £75 / 12 months)

Anyone else found this?

molerat

How have you got interest in your account today when it does not get paid until tomorrow ?

dggar

supershrimper wrote: »

I have just checked my interest today for my 2 TSB accounts. Both have had the ful £1,500 in them but both have only earnt £3.41 in interest.

I was under the impression that they was raising the interest they paid on the current account to 5% from the 3% from the 2nd May 2018?

If thats true the interest would be around the £6.00 mark (£1,500 x 5% = £75 / 12 months)

Anyone else found this?

Out of interest, where did you get the impression that the rate was being raised?

supershrimper

moneysavingexpert.com/banking/online-tsb-banking-problems-complain

Under "What action has TSB taken?" heading Last bullet point

molerat

dggar wrote: »

Out of interest, where did you get the impression that the rate was being raised?

Well publicised on the TSB site and in the press.
https://www.tsb.co.uk/personal/frequently-asked-questions/

We have also increased the interest rate on our Classic Plus account from 3% to 5%. We promise this won't be taken away after a year.

supershrimper

Ah your right, the £3.41 interest i earnt was for the previous month.

After not being able to view transaction on the app (even though i've got transactions going through) i logged onto the web, and saw the interest amount (but as its not what i'm used to using the app i've got confused.

Ignore the thread (until they do pay the interest) Will be interesting to see if they get that right

AndyPK

when i log into the app on the iPhone I can't see a statement, only ballance. I'd better update the app (again) to see if it helps

Terry98

£6.24 interest credited to my account this morning. It looks about right for 5% on the full £1500 for 31 days.

Perhaps they are starting to sort out their problems at last.

binaryuniverse

My interest is also what I'd expect for 5%.:beer:

billn

No interest at all for me so perhaps they haven't sorted themselves out:(

Sea_Shell

Yep full interest here too!:j

(and it allowed me to transfer it out no probs either)