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

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  • Sea_Shell
    Sea_Shell Posts: 10,020 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Dont forget to empty your accounts folks.

    Wouldn't want to leave it too late for TSBs clunky systems to experience issues at the last moment.

    I'll be keeping a tiny amount in and also keep one of them fed with £25 to feed into a RS.



    Thanks, yes, all empty except for £500 to feed our TSB reg savers at the start of December.  
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Tragen
    Tragen Posts: 278 Forumite
    Eighth Anniversary 100 Posts Photogenic Combo Breaker
    edited 28 November 2020 at 10:33AM
    Sea_Shell said:
    Thanks, yes, all empty except for £500 to feed our TSB reg savers at the start of December.  
    Is it worth it for £14.16 ? at these percentages, i throw everything into premium bonds for now, at least there is the possibility of a large prize, as well as an average interest rate of 0.9% tax free
  • Sea_Shell
    Sea_Shell Posts: 10,020 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Tragen said:
    Sea_Shell said:
    Thanks, yes, all empty except for £500 to feed our TSB reg savers at the start of December.  
    Is it worth it for £14.16 ? at these percentages, i throw everything into premium bonds for now, at least there is the possibility of a large prize, as well as an average interest rate of 0.9% tax free

    We're still on 2% with ours.  It's an on going funding, not starting in December!! 😉
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Tragen said:
    Sea_Shell said:
    Thanks, yes, all empty except for £500 to feed our TSB reg savers at the start of December.  
    Is it worth it for £14.16 ? at these percentages, i throw everything into premium bonds for now, at least there is the possibility of a large prize, as well as an average interest rate of 0.9% tax free
    I've maxed premium bonds but look on this as part of my equity bond allocation as much as savings, with government bond yields now negative. My RS finishes up after Xmas so I'll hang on until then and then do a switch to virgin for the wine, pickings are slim bit I'll take what I can get.
  • bristolleedsfan
    bristolleedsfan Posts: 12,644 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 28 November 2020 at 11:16AM
    To convert these accounts to Spend And Save after 1 December   Change Your Account | Help | TSB Bank
  • polymaff
    polymaff Posts: 3,950 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    To convert these accounts to Spend And Save after 1 December   Change Your Account | Help | TSB Bank
    "we'll send a confirmation email to the email address you have registered for TSB Internet Banking. (Please note, this email indicates that you will receive a new debit card and PIN. Please ignore this"
    Classic TSB. ... ;)


  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    To convert these accounts to Spend And Save after 1 December   Change Your Account | Help | TSB Bank
    What are you hoping to gain from that? They will not pay the monthly fivers for S&S accounts that were converted from the old Plus accounts. You need to open new ones if you want the fivers.
  • bristolleedsfan
    bristolleedsfan Posts: 12,644 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 28 November 2020 at 1:30PM
    colsten said:
    To convert these accounts to Spend And Save after 1 December   Change Your Account | Help | TSB Bank
    What are you hoping to gain from that? They will not pay the monthly fivers for S&S accounts that were converted from the old Plus accounts. You need to open new ones if you want the fivers.

    I am pretty sure that a Classic Plus account is not the same as a Classic Account. :)
    This post highlights distinct difference between Classic and Classsic Plus account
    Cashback Terms and ConditionsEligibility 1.1 You are eligible for cashback if you open a new Spend & Save account or Spend & Save Plus account. Opening a new account includes changing an existing TSB account, other than a Classic account, to a Spend & Save or Spend & Save Plus account.

  • Herbalus
    Herbalus Posts: 2,634 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Interest stops on Wednesday doesn’t it? Or have I missed something? My diary says interest stops from 2 Dec so there’s a few more days yet.
  • Sea_Shell
    Sea_Shell Posts: 10,020 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Herbalus said:
    Interest stops on Wednesday doesn’t it? Or have I missed something? My diary says interest stops from 2 Dec so there’s a few more days yet.

    You're going to trust their IT on the day!!? 😉

    🍀
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
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