TSB Interest Increased??

katejo

Terry98 wrote: »

£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.

£6.17 for me but the balance did drop just below £1500 for a brief period so looks about right.

gsix14

No interest posted to my account. I rang them this morning (the system only hung up on me once) and they opened a complaint for me and credited it manually (£6.23).

It will be interesting to see whether it arrives properly next month.

Ed-1

YorkshireBoy wrote: »

Did they say what had happened?

As I have a couple of accounts more than I should have I'm reluctant to put my head above the parapet. I'd planned to wait until next month to see if it corrects itself.

I decided to ring them despite my multiple accounts. It didn't go well. "There's no way we can reinstate the interest as you're only eligible to receive it on one sole and one joint account. In a way you're quite lucky that you've received it on the other X accounts!". See what happens next month... In the meantime I've shifted money out of the dud account. You watch - it'll be one/some of the others that don't pay next month. However I'm convinced that something must have been turned off on 3rd May and anything that was credited during the time it was turned off hasn't been recognised. That's my theory.

Nick_C

Ed-1. What they have told you is untrue.

They have the right to close your second CP account but must give you two months notice.

But the CP account pays interest. That's in the T&Cs. They cannot refuse to pay. Complain!

Ed-1

Nick_C wrote: »

Ed-1. What they have told you is untrue.

They have the right to close your second CP account but must give you two months notice.

But the CP account pays interest. That's in the T&Cs. They cannot refuse to pay. Complain!

The problem is if they exercised the right to close multiple accounts, I'd be a lot worse off than one month's lost interest.

ceredigion

YorkshireBoy wrote: »

Did they say what had happened?

As I have a couple of accounts more than I should have I'm reluctant to put my head above the parapet. I'd planned to wait until next month to see if it corrects itself.

Ed-1 wrote: »

I decided to ring them despite my multiple accounts. It didn't go well. "There's no way we can reinstate the interest as you're only eligible to receive it on one sole and one joint account. In a way you're quite lucky that you've received it on the other X accounts!". See what happens next month... In the meantime I've shifted money out of the dud account. You watch - it'll be one/some of the others that don't pay next month. However I'm convinced that something must have been turned off on 3rd May and anything that was credited during the time it was turned off hasn't been recognised. That's my theory.

A thought. As I have already said, all mine paid as expected. Transfers all completed on the 1st, but from an external account. No internal transfers setup. The same setup on the Other halves and they paid as well.

Ed-1

Has anyone who had £500 go in after 3rd May (and not before) been paid interest?

Yorkshire_Pud

Ed-1 wrote: »

Has anyone who had £500 go in after 3rd May (and not before) been paid interest?

Yes I have. St. Ord from external bank, both ways. You would think TSB would have an explanation but is it only those with more than one classic account that have been affected?

Herbalus

Yorkshire_Pud wrote: »

Yes I have. St. Ord from external bank, both ways. You would think TSB would have an explanation but is it only those with more than one classic account that have been affected?

No. Ive lost the thread on here slightly but if it helps I have 2 single and 1 joint and had interest on all of them in May and June. Internal standing orders going 1 -> 2 -> 3 in mid month. 2x 6.23 and 1x 6.24 in June as it happens.

Ed-1

YorkshireBoy wrote: »

We wrote to customers a while ago saying we would close additional accounts. You haven't got your interest because you have too many accounts". I reminded them the letter said they "may" close additional accounts (with notice), not that they would stop paying interest on them!

Actually, they say 'convert' rather than 'close'.

Please note: if you have more than one Plus account in your sole name or more than one 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.

https://www.tsb.co.uk/current-accounts/classic-plus-account/