That's good to know about the 5%. I keep the max in there and don't use the account. I had the letter yesterday about Lloyds slashing their interest rates, it's barely worth me keeping most of these accounts open now as the interest is so minimal.
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That's good to know about the 5%. I keep the max in there and don't use the account. I had the letter yesterday about Lloyds slashing their interest rates, it's barely worth me keeping most of these accounts open now as the interest is so minimal.
Then like the other posters fairly reasonable point about not putting all your eggs in one basket it is probably also a good idea not to leave things till the last minute. I don't see why people are being so argumentative about it, the poster had a reasonable point, he was just saying it is useful to have say a credit card, account with another bank etc..
Also with the recent news about the economy in the last quarter having the slowest growth since 2012, would now seem unlikely that the BOE will raise their interest rates as some economists were anticipating.
So yep if they're offering 5% on 1500, i would keep it in there (as i'm also planning to do so).
Soldato
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I got my cash after waiting an hour in the branch, so all's well that ends well for me.
There were a few people in during that time that couldn't access their cash from the ATM. There were also quite a few business customers in and they were pretty stressed out, can't pay staff and can't pay suppliers. Apparently, cheques can't be paid in either.
What a shambles this has been for a week now and still ongoing into a second weekend, I just closed my account while I was there.
There were a few people in during that time that couldn't access their cash from the ATM. There were also quite a few business customers in and they were pretty stressed out, can't pay staff and can't pay suppliers. Apparently, cheques can't be paid in either.
What a shambles this has been for a week now and still ongoing into a second weekend, I just closed my account while I was there.
I have a bills account which I use for savings and the reward.
I appear to have "lost" £400 from it. I can get onto online banking but not the app.
When I look at the running balance, it is different to if I do a defined time period. I only opened it in November and it shows at -£380 ish on the day the account was opened.... So something seriously wrong.
Just as well I use it for savings as my mortgage and all bills are paid from it, so there is money there to pay them anyway, but if there wasn't it could have had a serious impact.
I appear to have "lost" £400 from it. I can get onto online banking but not the app.
When I look at the running balance, it is different to if I do a defined time period. I only opened it in November and it shows at -£380 ish on the day the account was opened.... So something seriously wrong.
Just as well I use it for savings as my mortgage and all bills are paid from it, so there is money there to pay them anyway, but if there wasn't it could have had a serious impact.
Soldato
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My account was just a facility to save, too. However, I'm not willing to risk my cash for £40 a year which is why I just closed it.
Supposedly the interest rate will be increased to 5%, so I'll keep it there for the time being. TSB is also covered under FSCS so the money is safe.
I think that if a bank has proven that it can't be trusted to handle money correctly and can't fix the problems it has caused even after a week, it's not over the top to switch to a different bank. Not always essential, but not over the top. TSB has obviously cut costs far enough to render itself incapable of handling anything out of the ordinary and that's not a reassuring position for a bank (or any business, but especially a bank) to take. It certainly doesn't show competence.
I don't know.
A week without access to banking due to their mistakes is a pretty good reason to no longer trust the bank with your money, they've failed at the most basic level as a bank (at least for the customer).
I wouldn't be surprised if an awful lot of people, including business customers end up feeling the same way as not being able to access your money for a week or more is a major issue, and with business customers i'll affect not only one person but potentially their staff and suppliers as well.
Issues happen though, and the bank are not bothered about customer's leaving, end of day they'll gain more than them leaving. stuff happens no matter how big an organisation. Look at NatWest they've had 2 issues worse than what has happened here, and the're attracting customers in the hordes you can bet.