TSB classic plus and Classic Enhance interest rates reduction to 0%

older_wiser

another one gone tesco ended the 1% as of today hardly anywhere left to get decent interest
my marcus account and lloyds  i think are still 0.75% ? how long will that last 

schiff

It has meant £1.90 a month to me so it's no great loss. I have £500 going in on the 1st OTM and £250 to each of the TSB and Saffron RSs that I have. Which, on current plans, I won't be renewing. I don't do much more than 50 Debit Card transactions in a year, so I'm not going to go through the mind-bending time consuming ways to do 50 a month. Prefer the simpler life! 

typistretired

Just received the email I will reduce accounts  to £1 from 2nd December.  Following on from the NS&I reducing from the end of November this is becoming a nightmare.  

Missus_Hyde

fred246 said:

I remember reading that when Banco Sabadell bought TSB they were impressed by the number of people opening new current accounts with them. Of course they were just opening them as savings accounts because the interest rate was good. I am sure they will be impressed by the speed at which they will lose all those customers.

That's it for TSB for us; we've got three accounts with them, so the money will be coming out of those on 2nd December. No point in banking with them without the incentive of the interest rate.😏

That's three accounts to switch at a later date ( I've done all the switching bonuses available for the present.)

grimsalve

I was thinking of closing my TSB accounts anyway.

veryintrigued

At least it's positive that they're not dropping the interest rate on balances above the £1500 threshold.

 

quirkydeptless

Yorkshire_Pud said:

PRAISETHESUN said:

Looks like I'm going to have a few spare switching accounts in a few months time...
Hardly a suprise though with the way TSB seems to be wanting to "shake up" their offering.

Tsb have a newish ceo Debbie Crosbie who helped bring Clydesdale/Yorkshire Bank out of the doldrums so with branch closure programme and radical changes to current accounts expect there is a much bigger game plan for this bank. Maybe selling it or amalgamating with another bank next year?

(Bring back Paul Pester)

Sell it to Lloyds, I've even got a catchy new name for them...

hollie.weimeraner

6 accounts with them and only recently opened NS&I, also just switched from Santander to RBS

Eco_Miser

I've just opened TSB's monthly saver for the guaranteed 1%, so I'll have to keep one account open. But there'll be another £3k looking for a home in December.

Yorkshire_Pud

quirkydeptless said:

Yorkshire_Pud said:

PRAISETHESUN said:

Looks like I'm going to have a few spare switching accounts in a few months time...
Hardly a suprise though with the way TSB seems to be wanting to "shake up" their offering.

Tsb have a newish ceo Debbie Crosbie who helped bring Clydesdale/Yorkshire Bank out of the doldrums so with branch closure programme and radical changes to current accounts expect there is a much bigger game plan for this bank. Maybe selling it or amalgamating with another bank next year?

(Bring back Paul Pester)

Sell it to Lloyds, I've even got a catchy new name for them...

Good idea, hope they kept all the old stationery they’ll save a mint!