TSB - Has anyone gone to the Ombudsman?

pochisoldi

Cotta wrote: »

TSB's regular saver is poor at 2%?

IMHO 2% with a lock in isn't worth it.

If you have a Lloyds Club current account and/or Nationwide Flexaccount you can access 3% on £400/mth, and 5% on £250/mth.

The Flexaccount can be run with a nil balance (rotate £750 in and out each month).

The Lloyds Club current offer is less attractive these days - 1.5% on £5000 down from 2% from the beginning of July, but it's still better than most instant access accounts, but with the downside of having to arrange two direct debits each month (£1 to an ex-Egg savings account and a monthly National Lottery ticket tick those boxes for me).

PochiSoldi

Cotta

pochisoldi wrote: »

IMHO 2% with a lock in isn't worth it.

If you have a Lloyds Club current account and/or Nationwide Flexaccount you can access 3% on £400/mth, and 5% on £250/mth.

The Flexaccount can be run with a nil balance (rotate £750 in and out each month).

The Lloyds Club current offer is less attractive these days - 1.5% on £5000 down from 2% from the beginning of July, but it's still better than most instant access accounts, but with the downside of having to arrange two direct debits each month (£1 to an ex-Egg savings account and a monthly National Lottery ticket tick those boxes for me).

PochiSoldi

I have the Nationwide, First Direct and HSBC Regular savers at 5% but nothing else either bank offers is worthwhile.

Dobbibill

pochisoldi wrote: »

IMHO 2% with a lock in isn't worth it.

If you have a Lloyds Club current account and/or Nationwide Flexaccount you can access 3% on £400/mth, and 5% on £250/mth.
PochiSoldi

2% is not a bad crack if you've fully utilised the NW & CLloyds RS.

It's also instant access so still beating CLloyds current account interest rate.....just.

soulsaver

Dobbibill wrote: »

2% is not a bad crack if you've fully utilised the NW & CLloyds RS.

And Virgin Money, M&S, First Direct, HSBC, Santander, Leeds BS...JOTTOMH and maybe more.
Still better than easy access non rs where best is 1.5%.

Cotta

soulsaver wrote: »

And Virgin Money, M&S, First Direct, HSBC, Santander, Leeds BS...JOTTOMH and maybe more.
Still better than easy access non rs where best is 1.5%.

Virgin money at 2.25% is nothing to write home about.

Westie983

Cotta wrote: »

TSB's regular saver is poor at 2%?

Yes its one of the lower ones but its one of 25 I am currently running.

Its a way to keep money moving and pay off 0% credit cards, after I have funded the 5% ones, I am making little interest in the TSB regular saver from the 0% credit card.

Westie983

OceanSound

@OP: I'm sure many on here will reply to this post saying ombudsman looks at each compliant on its merits. Of course this is so for some cases. However, if you want to get some idea of the likelihood of your case succeeding, visit http://www.ombudsman-complaints-data.org.uk/

and have a look under 'resolved cases - % resolved in favour of consumer'.

Using latest figures (01 Jul to 31 Dec 2017.) - only 22% of customers complaining about TSB succeeded.

Compare this with Paypal, which was also 22%. The figures for 1st half of 2017 isn't any better.

However, go back in time and look at historic data ( 1 January to 30 June 2009 ) and you'll see figures of 64% for Paypal, 60% for HSBC.**

Look at second half of 2009, and you still see over 50% for both HSBC and Paypal. However, data for 1st half of 2010 look very different to 2009. I think it's fair to say something happened in between.

** - I don't think TSB as it is now called existed back then, so no data. Can see data for Lloyds TSB though.

masonic

OceanSound wrote: »

Using latest figures (01 Jul to 31 Dec 2017.) - only 22% of customers complaining about TSB succeeded.

I suspect that figure will be much closer to 100% in the 6 months from 01 Jul to 31 Dec 2018. Failure to consider a complaint within 8 weeks is itself grounds for a complaint to be upheld.

soulsaver

Cotta wrote: »

Virgin money at 2.25% is nothing to write home about.

It is when the comment is about what you should use up before settling for 2%. Did you not read the post before quoting?

OceanSound

masonic wrote: »

.... Failure to consider a complaint within 8 weeks is itself grounds for a complaint to be upheld.

Looks like I was shafted by the Ombudsman when I complained about Paypal. Here's an extract from my complaint form:

I contacted paypal on the 04 October 2016 through their website. (see files attached) Soon after submitting the complaint, I received an email to say a response will be sent within 4 weeks. To date, no response has been received. It's well over 8 weeks since I contacted paypal.

Here's the Ombudsman decision:

My final decision is that I don’t uphold Mr X’s complaint.
Under the rules of the Financial Ombudsman Service, I’m required to ask Mr X to accept or
reject my decision before 24 April 2017.