TSB to cut Classic Plus current account interest to 1.5% - MSE News

TSB is to cut the interest on Classic Plus Current Account from 3% AER to 1.5% AER from May...

Read the full story:

TSB to cut Classic Plus current account interest to 1.5%

OfficialStampgif
Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free MoneySavingExpert Money Tips E-mail
«13

Replies

  • crumpet_mancrumpet_man Forumite
    371 Posts
    100 Posts Second Anniversary
    ✭✭
    Posted in Credit Card board?
  • biliesbilies Forumite
    6 Posts
    First Post
    MoneySaving Newbie
    Oh well, bye bye TSB. Time to move my money to offset my mortgage!
  • born_againborn_again Forumite
    7.8K Posts
    1,000 Posts Second Anniversary Name Dropper
    ✭✭✭✭
    Seems team MSE are getting worse. Can't even work out the difference between a CURRENT ACCOUNT & a CREDIT CARD....
    Life in the slow lane
  • ConsumeristConsumerist Forumite
    6.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    NatWest/RBS Savings Builder is now starting to look more attractive at 1.5% on up to £10k. Definitely thinking about it, myself.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • emmac1emmac1 Forumite
    27 Posts
    Third Anniversary 10 Posts
    Morning all, did anyone receive notification directly from TSB about this? I have a paperless account, but no e-document or message informing me of the reduction arrived, so it was a surprise to receive half the expected interest a couple of days ago. My understanding is that banks must notify customers of any proposed change in interest rates in good time.
    Advice would be much appreciated
  • AntoMacAntoMac Forumite
    538 Posts
    Seventh Anniversary 500 Posts Name Dropper Combo Breaker
    ✭✭
    Yes I did and I’m paperless too. I’m sure they’ve done what they were obliged to do
    27/5/17 Mort 64705 BTs 19040
    31/12/17 Mort 59815 BT 16730
    07/04/20 Mort 49208 BT 15721
    28/07/20 Mort 47387 BT 12634
    14/11/20 Mort 45905 BT 10134
    20/05/21 Mort 42335 BT 6868
    Sealed Pot Challenge 15 Number 7
  • emmac1emmac1 Forumite
    27 Posts
    Third Anniversary 10 Posts
    AntoMac said:
    Yes I did and I’m paperless too. I’m sure they’ve done what they were obliged to do

    Thanks for your help. How were you notified? Online or by post?
    Many thanks
  • Yorkshire_PudYorkshire_Pud Forumite
    1.6K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭
    emmac1 said:
    AntoMac said:
    Yes I did and I’m paperless too. I’m sure they’ve done what they were obliged to do

    Thanks for your help. How were you notified? Online or by post?
    Many thanks
    If you went paperless for the Classic Plus Interest then the correspondence will be in your desktop online account under messages which tsb never delete. No letter because you went paperless for correspondence.
  • Archi_BaldArchi_Bald Forumite
    9.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    emmac1 said:
    AntoMac said:
    Yes I did and I’m paperless too. I’m sure they’ve done what they were obliged to do

    Thanks for your help. How were you notified? Online or by post?
    Many thanks
    If you went paperless for the Classic Plus Interest then the correspondence will be in your desktop online account under messages which tsb never delete. No letter because you went paperless for correspondence.
    I am fully paperless. Can't see any messages, just Inbox. In there, I only have statements, no notification about interest rate change. I will not be making a complaint as I'd rather they didn't look at my accounts.
  • edited 5 June 2020 at 11:56AM
    RG2015RG2015 Forumite
    3.7K Posts
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    edited 5 June 2020 at 11:56AM
    emmac1 said:
    AntoMac said:
    Yes I did and I’m paperless too. I’m sure they’ve done what they were obliged to do

    Thanks for your help. How were you notified? Online or by post?
    Many thanks
    If you went paperless for the Classic Plus Interest then the correspondence will be in your desktop online account under messages which tsb never delete. No letter because you went paperless for correspondence.
    I am fully paperless. Can't see any messages, just Inbox. In there, I only have statements, no notification about interest rate change. I will not be making a complaint as I'd rather they didn't look at my accounts.
    I received this email on 19th Feb. There are no messages in my online inbox on this issue,

    The interest rate is changing on your Plus account.
    Hello RG2015,
    We wanted to let you know that from 2 May 2020, the interest rate you earn on your Plus account will change from 3% to 1.5% AER. The table below shows how this works.
Sign In or Register to comment.
Latest MSE News and Guides

NS&I to change Premium Bond prize rate

It will rise to 1.40% from June

MSE News

Compers of the MSE Forum:

Show us the prizes you've won recently

Join the MSE Forum discussion