General Discussion and Whimsical Banter

ranciduk

I don’t understand this bit though:

“If TSB were sold, current accounts would probably be switched to the new owner.”

 Whatever happens to TSB after any such takeover- it would surely still have its own current accounts?!?

wmb194

ranciduk said:

I don’t understand this bit though:

“If TSB were sold, current accounts would probably be switched to the new owner.”

 Whatever happens to TSB after any such takeover- it would surely still have its own current accounts?!?

Maybe, maybe not. It depends on whether Santander (or another established bank) decides to ditch the TSB brand and move everyone over to Santander. For instance Santander moved all Alliance & Leicester accounts to Santander and dropped all A&L branding when it took that over.

Your account wouldn't be closed, though, if that's what you're worried about. If the TSB brand was retired your account would just be transferred to Santander's systems and you'd login to Santander's internet banking instead. This is what happened with A&L accounts and in my experience they kept the same account numbers.

Maintaining multiple brands can be a headache and TSB's brand is pretty weak so I could understand someone wanting to ditch it. Halifax on the other hand is a surprisingly strong brand so I understand why Lloyds kept that.

subjecttocontract

I guess it would eventually mean the end of the TSB 6% regular saver......which is the only reason I have a TSB account. They don't seem to offer me anything else that's remotely worthwhile.

flaneurs_lobster

subjecttocontract said:

I guess it would eventually mean the end of the TSB 6% regular saver......

...already ended, it's now 5% for new applicants.

subjecttocontract

Yes, but even at 5% it's not bad.
Apart from the reg saver I've never found them remotely competitive for anything.
I still hold a grudge that as a Lloyds customer my account was transferred to TSB a few years back.

flaneurs_lobster

subjecttocontract said:

Yes, but even at 5% it's not bad.
Apart from the reg saver I've never found them remotely competitive for anything.
I still hold a grudge that as a Lloyds customer my account was transferred to TSB a few years back.

Tend to agree, I did get a few quid for switching a current account to them a few years ago but there was also some complicated "make 50 payments a week with your debit card to earn an extra £5" clause that I really couldn't be bothered with.

Bridlington1

It seems Principality BS think it's going to be a long month. I was just having a skeg at their withdrawn savings rates list and noticed this:

ircE

OrangeBlueGreen said:

ircE said:

Anyone heard anything on the grape vine about anything spicy coming from Virgin Money? 

The 12% rate on current account balances up to £1,000 expires at the end of the month, and the 10% regular saver matures at the end of July. If they don't offer anything soon I suspect they will see a mass exodus of funds. But I suppose it depends on whether Virgin Money and new parent Nationwide think that's a problem.

My gut is telling me the 10% was probably more linked to getting the numbers up for the Nationwide takeover. Could be wrong though.

I suspect you're right, but I'm ever the optimist! Contrary to the Ipsos tables I've actually been quite happy with the Virgin Money experience for the current account and savings accounts I hold with them.

subjecttocontract

My experience with Virgin approx 3 years ago was awful. Their performance was attrocious, especially with ISAs but recently they seem to have improved considerably and I'm now very happy with them also.

Vitor

Received my payment for IDS plc today, capital gain of £68.10 from IPO. If I'd put the money into Bitcoin, would be looking at £440,000 gain.