Tesco Bank to cut current account interest from 3% to 1% - MSE News

YorkshireBoy

Mummy2cheekymonkeys wrote: »

me and hubby have tsb accounts and I have 1 month left of 5% with nationwide before that drops to 1%

3 of each between you?

Mummy2cheekymonkeys

YorkshireBoy wrote: »

3 of each between you?

We have a tsb each. Was going to open a joint one as well but they will only let you do this in branch and the nearest one is miles away. Nationwide I had one in my name and we now have a joint one. Hubby had one before so isn't eligible for the 5%

Fingerbobs

colsten wrote: »

You're not into Regular Savers then :rotfl:

I do Regular Savers, but not to the extent of some here! I've got 12 RS accounts now, with one maturing every month of the year, which was my target. I have a little bit of work to do each month, but it's manageable and I basically have the same lump sum just cycling round and round.

ScoobyZ

Will close my 2, this combined with selling my BTL will pay my mortgage off Woohoo!

lovingtescoforever

I wasn’t expecting such a big drop. Maybe 2% but to 1% is rubbish. Poor move Tesco. Lots will leave I’m sure, not worth it.

AndyPK

had my letters today

eskbanker

lovingtescoforever wrote: »

I wasn’t expecting such a big drop. Maybe 2% but to 1% is rubbish. Poor move Tesco. Lots will leave I’m sure, not worth it.

Even those whose unusually committed usernames might suggest otherwise?

aj23_2

lovingtescoforever wrote: »

I wasn’t expecting such a big drop. Maybe 2% but to 1% is rubbish. Poor move Tesco. Lots will leave I’m sure, not worth it.

I was expecting 1.5%, which I probably would have left it as that. I'll wait until June 8th which is when interest is paid for me, then I'll drip feed to a regular saver.

harz99

Well we have the old version and have simply been skimming the interest off into Internet Savers. Given the amount of time the money has sat in Mr T we will probably just stick the cash in the best 1-2 year fixed rate account as we don't need easy access, and keep a nominal sum in each a/c. Anyone else considering this route?

Herbalus

harz99 wrote: »

Well we have the old version and have simply been skimming the interest off into Internet Savers. Given the amount of time the money has sat in Mr T we will probably just stick the cash in the best 1-2 year fixed rate account as we don't need easy access, and keep a nominal sum in each a/c. Anyone else considering this route?

Depends how many other pots you have and the likelihood of needing them. It does make people think a bit more - the days when the highest rates were instant access made everything much simpler.

My own preference is to keep all in instant access and load up on regular savers as this can take huge amounts of cash.