TSB current account - rate will reduce to 1.5%

born_again

karlie88 said:

1.5% instant access on up to £85k is still good in the current climate.

Except it's only on the 1st £1.5K

crumpet_man

The admin wouldn't be worthwhile.  TSB internet banking is slow enough with two or three accounts.  I can only imagine how bad it would be to login and wait for dozens of account details to appear.

Ed-1

crumpet_man said:

The admin wouldn't be worthwhile.  TSB internet banking is slow enough with two or three accounts.  I can only imagine how bad it would be to login and wait for dozens of account details to appear.

Tell me about it...

karlie88

You have to remember that those who have more than 1 account, would have earned 5% for a decent amount of time, then 3% for another period of time. Initial set up would have taken 15 minutes or so, but once that was done it was all automated with £500 SOs going from one TSB account to another and SOs creaming off the interest on a monthly basis.
Just have to edit all the SOs now to reflect the % change on interest, will do that when I do the quarterly checks making sure all accounts are working as they should.
@born_again - try not to delete when quoting to change the context of my reply. 56 accounts with the full balance of £1.5k in each account = £84k.

Yorkshire_Pud

Oh TSB what sheisters. Since November tsb have made a Quidco offer and an offer through mse to attract new or existing customers to open current accounts with the advertised classic plus rate of 3%.

Then true to form (remember the uplift to 5% that didn’t even last as long as their original promise) they reduce the interest rate by a mere 50%. New customers are going to be so happy with tsb.

Why lure new customers in when tsb MUST have known they were going to reduce the interest rate?

Cynical?

Along with closing branches I think tsb are just preparing to offer themselves up for sale.

Don’t put your trust in tsb. They have proved time and time again they will let us down.

P.S.  Mse when I type a new sentence it’s usual for the first letter to be a Capital letter, viz.

this is a new sentence

so is this. So is this. Doesn’t work if the sentence is a new paragraph. Not like this.

like this!

JustAnotherSaver

Not really sure why people whinge about this saying they're going to jump ship?

Happens every time someone reduces their regular savers also.

Where else provides easy access for 1.50%? I know i'll move to Marcus ....... oh wait a second.

If it's the highest around, regardless of how low it is, then it's still the highest around. Until something beats it i'll stay with it. My £500 SO will stay in place and the 4 accounts my wife and I have will remain.

GTR_King

TSB Has got worse since since there it !!!!!! up last year... 
So tempted to switch it to Natwest for £175 reward the maybe reward account later on..

nottsphil

karlie88 said:

@born_again - try not to delete when quoting to change the context of my reply. 56 accounts with the full balance of £1.5k in each account = £84k.

Instead of rebuking Born Again, you should be apologising for getting the arithmetic wrong. As you originally stated £85K, people would have presumed you were referring to the maximum guaranteed capital (as me, Born Again and probably everybody else did). 

pinkdalek

It's still a decent rate in the current climate.

born_again

Yorkshire_Pud said:

Oh TSB what sheisters. Since November tsb have made a Quidco offer and an offer through mse to attract new or existing customers to open current accounts with the advertised classic plus rate of 3%.

Then true to form (remember the uplift to 5% that didn’t even last as long as their original promise) they reduce the interest rate by a mere 50%. New customers are going to be so happy with tsb.

Why lure new customers in when tsb MUST have known they were going to reduce the interest rate?

Cynical?

Along with closing branches I think tsb are just preparing to offer themselves up for sale.

Don’t put your trust in tsb. They have proved time and time again they will let us down.

P.S.  Mse when I type a new sentence it’s usual for the first letter to be a Capital letter, viz.

this is a new sentence

so is this. So is this. Doesn’t work if the sentence is a new paragraph. Not like this.

like this!

I can live with this as it is possible that the reduction in interest rate was not know at that point.
Now what is bad. Is have you seen the latest TSB adds on TV that are still touting the current interest rate... Now they can not deny that the rate will drop soon, as it is already known. Not even any small print to cover the reduction....