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TSB to cut interest rate on its current account to 3% - MSE News
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You can be pedantic over the exact wording, but it was obvious to me that the spirit of their promise was that the 5% rate would last for around 1 year.0
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I expect you also thought that despite whatever they said and whatever they did, Take That only wanted the girl back for 1 year too.You can be pedantic over the exact wording, but it was obvious to me that the spirit of their promise was that the 5% rate would last for around 1 year.0 -
You are of course correct, I haven't provided as much mirth as you have on these boards
You are our resident Eddie Izzard - reliably wrong
Customers currently get 5% which is about £74 a year.
It's being cut to 3% which is about £45 a year.
Their linked 2% Monthly Saver, at the end of the 12 months, would generate about £28. So, like I said in my OP about being over the course of 12 months, a customer could still maintain what they get now by operating both accounts and still generate about £70-£75 from TSB should they desire to over 12 months when the rate drops.
How is that wrong? I don't see anyone saying so.
You've all shown yourselves up by replying in a disrespectful, rude and wholly unnecessary way, and you are all still continuing to perpetuate your rudeness even now.0 -
If I were you, I would stop digging.
You have already proven that you have a profound misunderstanding by suggesting there'd be one way to maintain 5% with TSB.
It's been pointed out by various people that you are wrong and why. Verbally attacking those people only makes you disappear completely in the hole you dug for yourself. Regulars on this forum know whose posts on financial matters they can rely on, and I am afraid to say, it isn't yours.
You mean like how you and others are attacking me, even now, and with your thumbing up of each other? A pack of lions mentality where you all gang up and group together, making your subtle digs by giving each other thumbs up. Because that's what it is. You're all bullying yet you are continuing regardless. This forum is meant to be used to help in good faith, not to attack and abuse in the way that you and others are guilty of not just on this thread but for months in order to make some kind of alleged superior point of position. You won't see it like that, of course.
As I just said:
Customers currently get 5% which is about £74 a year.
It's being cut to 3% which is about £45 a year.
Their linked 2% Monthly Saver, at the end of the 12 months, would generate about £28. So, like I said in my OP about being over the course of 12 months, a customer could still maintain what they get now by operating both accounts and still generate about £70-£75 from TSB should they desire to over 12 months starting from when the rate drops.
That is not wrong.0 -
Customers currently get 5% which is about £74 a year.
It's being cut to 3% which is about £45 a year.
Their linked 2% Monthly Saver, at the end of the 12 months, would generate about £28. So, like I said in my OP about being over the course of 12 months, a customer could still maintain what they get now by operating both accounts and still generate about £70-£75 from TSB should they desire to over 12 months when the rate drops.
How is that wrong? I don't see anyone saying so.
You've all shown yourselves up by replying in a disrespectful, rude and wholly unnecessary way, and you are all still continuing to perpetuate your rudeness even now.
It is wrong because your stake is increasing.
A better way of maintaining the return would be to take advantage of their credit card offer at 0% and stooze it in to Markus0 -
If you'd originally said that it's possible to continue to earn £70-75 from TSB (but from a larger balance than £1,500) then that wouldn't have been wrong.a customer could still maintain what they get now by operating both accounts and still generate about £70-£75 from TSB should they desire to over 12 months when the rate drops.
How is that wrong? I don't see anyone saying so.
However, what you originally said was
Earning a similar amount of interest from a larger balance doesn't maintain 5%, it generates interest at between 2 and 3%.One way to maintain 5% with TSB is to open the linked 2% Monthly Saver
Your point about the forum being a place to help conveniently ignores the fact that posting inaccurate information obviously doesn't help anyone, so when this happens it's only right that it's corrected, so that other posters aren't misled....0 -
That is not wrong.
It is a little bit wrong.
It's possible to maintain getting c£75 a year from TSB, but it's not accurate to say that equates to maintaining 5%.
The part you're missing is that you need more funds to get the same level of return. You need the £1500 at 5% to get £75, but when the rate drops to 3% you need another £3000 to put into their monthly saver to get the £28 and back up to £75 overall.
You are right that forums are meant to be a place of help, but I understand you're saying a 5% return on £1500 is the same as a 3% and a 2% return on £4500. I'm struggling to see the value in that?
You might as well say you can get £75 in interest from TSB on £1500 at 5%, but you can also get the same £75 in interest if you put £100,000 in an account earning 0.075%.0 -
aj23, if you read back the posts I was not rude to you in the slightest I was just highlighting the inaccuracy in your post. You were however rude to me. I'm a big boy though, I can take it.0
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Your logic is flawless so far... but next you need to explain how TSB can be made to pay the 3% and the 2% on the same money at the same time. :whistle:Customers currently get 5% which is about £74 a year.
It's being cut to 3% which is about £45 a year.
Their linked 2% Monthly Saver, at the end of the 12 months, would generate about £28.0
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