TSB plans for new current accounts

eskbanker

Thrugelmir wrote: »

Still has more branches per 10,000 customers than other competitors.

A rather double-edged measure which can of course be enhanced as much by haemorrhaging customers as by retaining branches!

badger09

stclair wrote: »

This may shed a bit more light in there plans.

https://www.tsb.co.uk/news-releases/tsb-unveils-new-strategy-for-future-growth/

Got me wondering if I’m a ‘Money balancer’ as I definitely don’t fit either of the other 2 definitions in their “Aspiring Middle” target segment

Nebulous2

badger09 wrote: »

Got me wondering if I’m a ‘Money balancer’ as I definitely don’t fit either of the other 2 definitions in their “Aspiring Middle” target segment

Money balancer is a funny phrase. It suggests to me someone who is struggling - having to work at making the money balance.

binaryuniverse

If true, then it'll be yet another credit card stoozing avenue gone.

System

pavane wrote: »

I would hazard a guess the majority of TSB customers are only tolerating TSB due to their market leading rate. They are closing branches faster than anyone else and their IT systems... well... enough said. I would be shocked if TSB were to start offering more attractive rewards and benefits than others already doing this who have far greater buying power case in point trying to compete against Lloyds cinema tickets. TSB should keep it simple and focus on interest rate of current and regular savings and fix their IT. I truly believe scrapping interest would be their end.

They are obviously looking to get leaner for acquisition/merger - once this happens, only the wider branch network will be a consideration.

Eco_Miser

Nebulous2 wrote: »

Money balancer is a funny phrase. It suggests to me someone who is struggling - having to work at making the money balance.

The sort of person who goes into their overdraft every month, but pays it off every month too. The sort of customer a bank can make money from without too much risk.

Cynical, moi?

GTR_King

If it's true that TSB Is scrapping the 3% classic Plus then I will close the account or switch to another bank that has good interest rates but don't think there is any at the moment

badger09

Nebulous2 wrote: »

Money balancer is a funny phrase. It suggests to me someone who is struggling - having to work at making the money balance.

Definitely not me.

Eco_Miser wrote: »

The sort of person who goes into their overdraft every month, but pays it off every month too. The sort of customer a bank can make money from without too much risk.

Cynical, moi?

You’re probably right. Again, not me, but I’m sure the banks make sufficient money from those of us with credit balances:cool:

GTR_King

So who else will leave TSB If they Scrap Classic Plus Account?

will it be like Halifax Reward Account?

Zero_Sum

GTR_King wrote: »

So who else will leave TSB If they Scrap Classic Plus Account?

will it be like Halifax Reward Account?

I still have 2 halifax reward accounts as its still worth it.
If TSB get rid of the interest, theres zero reason for me to keep it as I dont really use it. Just keep the £1500 in for interest