TSB to cut interest rate on its current account to 3% - MSE News

Ed-1

schiff wrote: »

I can't imagine this getting to the High Court to interpret the legal standing of what an ex-employee said in an interview. We should move on.

It wasn't just said verbally though. It was given in writing by email.

IanManc

Ed-1 wrote: »

It wasn't just said verbally though. It was given in writing by email.

And it still wasn't part of the terms and conditions of the account which say that the interest rate is variable. :whistle:

Money_Grabber13579

IanManc wrote: »

And it still wasn't part of the terms and conditions of the account which say that the interest rate is variable. :whistle:

So it’s perfectly acceptable to lie, as long as they don’t lie in the small print?

masonic

Money_Grabber13579 wrote: »

So it’s perfectly acceptable to lie, as long as they don’t lie in the small print?

No, it isn't acceptable to lie in promotional material either, but it rather reduces the highest authority to whom you could raise the matter from the High Court to the ASA.

IanManc

Money_Grabber13579 wrote: »

So it’s perfectly acceptable to lie, as long as they don’t lie in the small print?

I didn't say it was perfectly acceptable to lie, nor did I imply it.

Please don't put words in my mouth.

If it was a lie - rather than something sincerely meant by an employee who was subsequently sacked and so not in a position to ensure it was carried out - it still didn't form part of the terms of the contract, which says that the interest rate is variable.

xylophone

Disappointing but can we honestly say that it was unexpected?

Post 46
https://forums.moneysavingexpert.com/discussion/5628758/mse-news-tesco-bank-reopens-applications-for-current-account-offering-3-interest&highlight=tsb+hair+shirt&page=3

phillw

IanManc wrote: »

I said that it didn't, because it wasn't in the terms and conditions governing the relationship between the parties.

It doesn't matter, any communication from the bank which affects any decision you make is a problem for them. You have no hope of getting interest rate back up to 5%, but you can throw in a complaint for the 2018 IT meltdown, and use it as mitigation for why you haven't complained before.

schiff wrote: »

I can't imagine this getting to the High Court to interpret the legal standing of what an ex-employee said in an interview. We should move on.

I'm not sure that he's an ex-employee is particularly relevant, if the bank had not accepted what he said then they have plenty of time to put the record straight. The biggest barrier to this is that pursuing it in court is going to cost significantly more than the 2% interest on £1500 will ever make.

pollypenny wrote: »

The sales pitch suggests a long-term increase to 5%, they want to appear unlike these fly by nights who offer a sweetener for a year.

I agree, but aren't we all fly by nights who jump from deal to deal? It's all part of the game.

Magnus91

I opened my first bank account with TSB at the start of the month (before I knew about the referral).

I didn't switch a current account into it, is it too late to do that and receive the referral bonus?
Or could I close and reopen the account?

Thanks

YorkshireBoy

Magnus91 wrote: »

I opened my first bank account with TSB at the start of the month (before I knew about the referral).

I didn't switch a current account into it, is it too late to do that and receive the referral bonus?
Or could I close and reopen the account?

Thanks

Yes, and yes (but a different one! ).

But don't take my word for it, check out the offer T&Cs.

Magnus91

YorkshireBoy wrote: »

Yes, and yes (but a different one! ).

But don't take my word for it, check out the offer T&Cs.

Great, thanks!

I did read the T&Cs, just wanted to check I wasn't missing something! haha