TSB to increase classic plus rate to 5%

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  • charlieboycat
    charlieboycat Posts: 385 Forumite
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    LuSiVe wrote: »
    They'll probably run through and close second accounts now though... ;)
    My thought exactly.
  • beefturnmail
    beefturnmail Posts: 906 Forumite
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    another reason to keep your eggs in as many baskets as possible
  • MABLE
    MABLE Posts: 4,082 Forumite
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    huw01 wrote: »
    On Radio 5 this morning he seemed to indicate that it would be for existing customers

    https://t.co/PXs2cfz8AS

    And so it should be. Newbies will have not have suffered the inconvenience like existing customers.
  • System
    System Posts: 178,101 Community Admin
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    I would think free Sabadell withdrawals would go a storm with TSB now being on the same IT platform...
  • Westie983
    Westie983 Posts: 5,213 Ambassador
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    Lets just wait and see, but agree they may now target those customers that have more then one classic account.

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • msallen
    msallen Posts: 1,494 Forumite
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    Westie983 wrote: »
    Lets just wait and see, but agree they may now target those customers that have more then one classic account.

    Westie983

    They may, but they may decide not to risk any more bad PR for any reason.
  • B_G_B
    B_G_B Posts: 502 Forumite
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    LuSiVe wrote: »
    They'll probably run through and close second accounts now though... ;)

    The man said "We are not like other banks that give you a high rate then take it away". Surely, closing second accounts would be "taking it away".
  • LuSiVe
    LuSiVe Posts: 1,059 Forumite
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    B_G_B wrote: »
    The man said "We are not like other banks that give you a high rate then take it away". Surely, closing second accounts would be "taking it away".

    So was giving us 5% initially and then taking it away.
    And reducing the amount that earned the interest from £2000? to £1500.
  • tempus_fugit
    tempus_fugit Posts: 1,189 Forumite
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    Excellent news. That's an extra £60 a year on our two accounts. :)
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
  • Mchambers
    Mchambers Posts: 1,054 Forumite
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    5% is nice. I am looking for money due to their incompetence and inconvenience caused to me. They refused to give me a bonus for switching my account to them a few months ago. The compensation will be poetic justice.
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