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  • FIRST POST
    • typistretired
    • By typistretired 12th Mar 14, 11:25 AM
    • 1,423Posts
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    typistretired
    Tsb plus account 5%
    • #1
    • 12th Mar 14, 11:25 AM
    Tsb plus account 5% 12th Mar 14 at 11:25 AM
    The financial pages of the newspapers have been reporting that TSB have launched the above account but I have been unable to find it on their site. Has anyone been able to find on TSB website this current account with TSB which pays 5% on balances up to 2,000 as long as you pay in 500
    "Look after your pennies and your pounds will look after themselves"
Page 2
    • YorkshireBoy
    • By YorkshireBoy 12th Mar 14, 6:21 PM
    • 31,023 Posts
    • 19,027 Thanks
    YorkshireBoy
    MSE HELEN posted 2 hours after my initial post about this account.
    Originally posted by typistretired
    What's new?


    But you waive your right to copyright when you join MSE.


    They did used to do an insert before the member's post, and give some credit/acknowledgement, but don't seem to do that these days.
    • Herbalus
    • By Herbalus 12th Mar 14, 6:27 PM
    • 2,374 Posts
    • 2,083 Thanks
    Herbalus
    I suspect they were too busy trying to fix their email (after the Newcastle ISA went in a few minutes) to get the press release into a story before the other news people reported on it!!
    • Jogle
    • By Jogle 12th Mar 14, 7:55 PM
    • 48 Posts
    • 34 Thanks
    Jogle
    Are you sure? I seem to remember it was 5,000-6,000
    Originally posted by YorkshireBoy
    No, it was originally 5-7,000, on the same terms as the current offer (ie. 1,000 deposit per month and no need for Direct Debits). That tier was then removed (I can't remember when). In October 2012 they introduced the 5-6,000 tier but that required two Direct Debits
    • YorkshireBoy
    • By YorkshireBoy 12th Mar 14, 8:01 PM
    • 31,023 Posts
    • 19,027 Thanks
    YorkshireBoy
    No, it was originally 5-7,000, on the same terms as the current offer (ie. 1,000 deposit per month and no need for Direct Debits). That tier was then removed (I can't remember when). In October 2012 they introduced the 5-6,000 tier but that required two Direct Debits
    Originally posted by Jogle
    I was responding to post #17, which said...


    "It first paid 4% on 5,000-7,000, but this upper tier was later removed."


    ...because I thought it paid 4% on 5-6K during the 2012-13 special offer (which I enjoyed).


    In my original post (on pure rates) I made no reference to the tiers. That was introduced later by others.
    • typistretired
    • By typistretired 13th Mar 14, 9:48 PM
    • 1,423 Posts
    • 1,010 Thanks
    typistretired
    According to Savings Champion 30th of March 2014 is the date this new account is launched.


    Savings Champion Rate Alert for Thursday 13th March

    TSB is launching a new account on 30th March which pays 5% AER interest on balances up to 2,000.
    "Look after your pennies and your pounds will look after themselves"
    • apt
    • By apt 13th Mar 14, 11:10 PM
    • 3,089 Posts
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    apt
    Unlikely, as 30 March is a Sunday.
    • financialbliss
    • By financialbliss 13th Mar 14, 11:16 PM
    • 1,873 Posts
    • 8,359 Thanks
    financialbliss
    Also got Savings champion email advising of 30th March.

    From this is money:

    "It will be open for online and over the phone sign-ups from March 30 and in branch the following day."

    http://www.thisismoney.co.uk/money/saving/article-2579080/TSB-launches-new-current-account-paying-5-cent-interest.html

    FB.
    Mortgage and debt free. Building up savings...
    • anna42hmr
    • By anna42hmr 14th Mar 14, 8:11 AM
    • 2,496 Posts
    • 1,275 Thanks
    anna42hmr
    wonder if they will allow me to get a couple of these as have three enhance accounts already and don't want to convert them to the new product as higher balances allowed for interest in those, so will be interesting to see if i can get this as well?
    • MABLE
    • By MABLE 14th Mar 14, 8:22 AM
    • 3,905 Posts
    • 2,056 Thanks
    MABLE
    I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.
    • Herbalus
    • By Herbalus 14th Mar 14, 8:29 AM
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    • 2,083 Thanks
    Herbalus
    I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.
    Originally posted by MABLE
    Lloyds also have a new account that will be available around that time, but nobody knows what all the details are yet. I've heard that it will have a monthly funding requirement of 1500 (with a 5 fee if not met), and "preferential" things, whatever that means.

    I'm not sure if this means loads of customers will leave Lloyds for TSB. For those saving in Lloyds, they'd only be able to move 4000, which is less than one Vantage account. For normal banking customers, the Nationwide 5% has been advertised for a long time, so presumably those who would've jumped might have already done so.

    I do like the fact that interest rates on current accounts seem to be increasing though - very counter to what we might expect considering how savings are getting lower and lower.
    • DragonQ
    • By DragonQ 14th Mar 14, 8:39 AM
    • 2,078 Posts
    • 706 Thanks
    DragonQ
    I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.
    Originally posted by MABLE
    I'll be taking a trip to the TSB branch in town once these Plus accounts are open, unless Lloyds do a similar thing and I can just convert my Vantage accounts.
    • apt
    • By apt 14th Mar 14, 9:31 AM
    • 3,089 Posts
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    apt
    Why not have both?
    • DragonQ
    • By DragonQ 14th Mar 14, 9:50 AM
    • 2,078 Posts
    • 706 Thanks
    DragonQ
    Why not have both?
    Originally posted by apt
    Both what? If you mean keep the Lloyds Vantage accounts and get Lloyds' equivalent to the new Plus account then I don't see the point. If you mean keep the Lloyds Vantage accounts and get TSB Plus accounts, then of course.
    • Herbalus
    • By Herbalus 14th Mar 14, 10:22 AM
    • 2,374 Posts
    • 2,083 Thanks
    Herbalus
    Both what? If you mean keep the Lloyds Vantage accounts and get Lloyds' equivalent to the new Plus account then I don't see the point. If you mean keep the Lloyds Vantage accounts and get TSB Plus accounts, then of course.
    Originally posted by DragonQ
    I don't see the difference between the two. You seem to be suggesting that it doesn't make sense to have all the accounts with one supplier, but it's ok to have the same accounts but split between two suppliers. As far as I can tell, there's no difference.

    What do you think is pointless about having Vantage accounts and the new Lloyds offering?
  • innovate
    Both what? If you mean keep the Lloyds Vantage accounts and get Lloyds' equivalent to the new Plus account then I don't see the point.
    Originally posted by DragonQ
    Why not? May be there is no point for you personally but it would make a lot of sense for people who are looking to put away more cash than the currently available current accounts allow.

    I will certainly add to my two dozen or so accounts, unless they won't allow the new accounts alongside Vantage ( or Enhance).
    • DragonQ
    • By DragonQ 14th Mar 14, 10:39 AM
    • 2,078 Posts
    • 706 Thanks
    DragonQ
    Why not? May be there is no point for you personally but it would make a lot of sense for people who are looking to put away more cash than the currently available current accounts allow.
    Originally posted by innovate
    Um as far as I could tell the question was addressed to me personally. You can do what you want.

    Keeping accounts open with different banks can prevent hassle in the future. If Lloyds ever came out with a product that I wanted in the future it'd probably be beneficial for me to still have a current account with them.

    Whether I'd be able to take advantage of both Vantage accounts and Plus accounts depends on how many Plus accounts we'll be allowed to have, and how much can be stored in them. Whatever Lloyds' new product is might replace Vantage anyway...I find it hard to believe they'd allow one person to have 3 Vantage accounts and x number of new interest-paying accounts but maybe they will.
    • apt
    • By apt 14th Mar 14, 11:08 AM
    • 3,089 Posts
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    apt
    My point of view is that if you've got an account that costs nothing to run like Lloyds Vantageit's better to keep it either to use to get a switching bonus or in case you run out of space in the accounts that pay more than 3%.
    • matttye
    • By matttye 14th Mar 14, 11:13 AM
    • 4,748 Posts
    • 2,994 Thanks
    matttye
    Anyone know if we will be able to add this like vantage/enhance or will we have to apply for a whole new current account?
    What will your verse be?

    R.I.P Robin Williams.
    • sharpharp
    • By sharpharp 14th Mar 14, 1:27 PM
    • 167 Posts
    • 76 Thanks
    sharpharp
    What i'd like to know is....

    If I open two accounts, to fund them EACH month with the 500, can I use existing TSB money, or does the monthly 500 have to come from external funds for both accounts? Currently with the enhance, you can bring new money into one account and shift it across to the other accounts....
    • neil324
    • By neil324 14th Mar 14, 1:33 PM
    • 459 Posts
    • 126 Thanks
    neil324
    What i'd like to know is....

    If I open two accounts, to fund them EACH month with the 500, can I use existing TSB money, or does the monthly 500 have to come from external funds for both accounts? Currently with the enhance, you can bring new money into one account and shift it across to the other accounts....
    Originally posted by sharpharp
    You don't need to bring new money into the 1st account. Just move 1K through the 3 accounts. Assuming you have 1K in the 1st.
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