Is TSB a reliable bank ? Just opened a current account plus with them

colsten

upsidedownpancake said:

eskbanker said:

upsidedownpancake said:

TSB is one of the most unreliable banks that exists in the UK.

upsidedownpancake said:
They've had several outages recently, hence why I said they're the most unreliable.

Fortunately, objective data relating to operational or security incidents affecting bank customers is now collated by the FCA and published at https://www.fca.org.uk/data-visualisation/operational-and-security-incidents-12-months-personal, where you'll see that TSB are far from the worst, having substantially fewer such incidents than Lloyds/Halifax/BOS, HSBC/FD/M&S, RBS/NatWest, Clydesdale/Yorkshire, Santander, and, perhaps significantly in the context of this thread, Monzo....

I'd say thanks but I really don't care about your point-scoring "data."  When the forum lights up regularly with the app, or internet banking being down for TSB and TSB alone, and people being unable to access their accounts, that's what matters.

Christ, you're full of yourself.

Actual data published by the FCA is far more reliable and mesningful than reports on social media, incl on MSE. Whether you care about is, frankly, neither here nor there. 

colsten

SebSai said:

Just worried if my money going to be safe if i move it there. 

..

All deposits with TSB are FSCS protected, up to £85,000. No need to worry if you don‘t exceed that sum.

Any reports that people lost money as a result of TSB outages are almost certainly untrue. If anyone had lost money due to the TSB IT problems, it would be due to their own incompetence, as they would not have claimed it back from TSB

TheMightySwordfish

Had my TSB through the IT problems and still have it as my main. They aren't that bad. I use their App and online banking and only suffered slight inconveniences when they have been updating at 2am for a few minutes. The only reason I would move is the Interest rate 😂

[Deleted User]

upsidedownpancake said:

eskbanker said:

upsidedownpancake said:

TSB is one of the most unreliable banks that exists in the UK.

upsidedownpancake said:
They've had several outages recently, hence why I said they're the most unreliable.

Fortunately, objective data relating to operational or security incidents affecting bank customers is now collated by the FCA and published at https://www.fca.org.uk/data-visualisation/operational-and-security-incidents-12-months-personal, where you'll see that TSB are far from the worst, having substantially fewer such incidents than Lloyds/Halifax/BOS, HSBC/FD/M&S, RBS/NatWest, Clydesdale/Yorkshire, Santander, and, perhaps significantly in the context of this thread, Monzo....

I'd say thanks but I really don't care about your point-scoring "data."  When the forum lights up regularly with the app, or internet banking being down for TSB and TSB alone, and people being unable to access their accounts, that's what matters.

Christ, you're full of yourself.

And you're a real charmer, aren't you 😣 
Bad forum etiquette.

@cymruchris is a trusted member on here and it's your attitude that makes these members decide to up and leave and that's to others' bad fortune, keep your rudeness to yourself 😣

colsten

SebSai said:

I have basic account in Santander, which i am using to deposit monthly savings. 

Interest rates are not exciting anywhere, but pretty abysmal at Santander. You might want to review whether you can get better rates elsewhere https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

SebSai

Thank you so much everyone for the valuable comments.

i have decided to stick with tsb and see how it goes.

wants to build my credit score very badly.

i have 3 defaults and 2 active loans, which will be cleared in 6 months.
then i want to start repaying the defaults.

eskbanker

upsidedownpancake said:

eskbanker said:

upsidedownpancake said:

TSB is one of the most unreliable banks that exists in the UK.

upsidedownpancake said:
They've had several outages recently, hence why I said they're the most unreliable.

Fortunately, objective data relating to operational or security incidents affecting bank customers is now collated by the FCA and published at https://www.fca.org.uk/data-visualisation/operational-and-security-incidents-12-months-personal, where you'll see that TSB are far from the worst, having substantially fewer such incidents than Lloyds/Halifax/BOS, HSBC/FD/M&S, RBS/NatWest, Clydesdale/Yorkshire, Santander, and, perhaps significantly in the context of this thread, Monzo....

I'd say thanks but I really don't care about your point-scoring "data."  When the forum lights up regularly with the app, or internet banking being down for TSB and TSB alone, and people being unable to access their accounts, that's what matters.

Well pardon me for pointing out facts that happen not to support your opinions....

upsidedownpancake said:

Christ, you're full of yourself.

Completely uncalled for.

Fingerbobs

In my own personal experience (as someone who holds accounts with most of the major high-street banks), I don't think TSB is significantly worse than any other. They all have issues and outages from time to time. Yes, TSB had a major meltdown a couple of years ago which hit the national headlines, but that aside they've been just as good/bad as any other bank for me. 

Vortigern

Rather than losing money, many people gained from TSB's 2018 disaster in the form of generous compensation. Here's hoping for another crash ;-)

Katiehound

Whichever major bank you use you are protected for up to £85k . The issue here might be that you are unable to access your funds for a short period.  TSB are no worse than others, it just seems to be if there is a problem then everyone comments, whereas if other banks have problems there is silence!
The TSB crash meant that many folk had compensation.
sadly pretty much no-one will be giving any decent interest, with the basic bank rate it means most are paying peanuts!- if not now, then scheduled for a rate reduction in the near future.

Stick with TSB but keep Monzo too. It is not wise to have all your eggs (or £s) in one basket.