aju
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Post by aju on Sept 23, 2020 14:52:00 GMT
MSE: TSB will no longer pay any interest on its Classic Plus current account from December. Also Club Lloyds and BoS advantage significantly reducing their rates from 1st Oct. The situation for savers is getting worse and worse. Sad news but to be expected I suppose. I guess I can look on the brighter side in that it's now 4 more accounts (2 each) that are spare for transfer if another account transfer sweetener deal comes through.  Must put a calendar note to stop the reciprocal transfers as well.
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Post by Badly Drawn Stickman on Sept 25, 2020 11:53:53 GMT
Et tu Marcus
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star dust
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Post by star dust on Sept 25, 2020 13:33:38 GMT
Thanks to aju for alerting me to Zopa’s offering. I got in for the 1.29% and have still got my window open to add more. Hadn’t put that much in yet as I’m really not keen on tying up more money and prefer easy access. However, with a couple of regular savers expiring at the beginning of October, accounts to empty at TSB soon and now Marcus I’ll have money needing a new home by the bucket full. I just hope Virgin don’t zero their current account interest rate next or together with TSB I’ll have enough spare accounts to last a lifetime of switches. |
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aju
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Post by aju on Sept 25, 2020 14:44:33 GMT
Thanks to aju for alerting me to Zopa’s offering. I got in for the 1.29% and have still got my window open to add more. Hadn’t put that much in yet as I’m really not keen on tying up more money and prefer easy access. However, with a couple of regular savers expiring at the beginning of October, accounts to empty at TSB soon and now Marcus I’ll have money needing a new home by the bucket full. I just hope Virgin don’t zero their current account interest rate next or together with TSB I’ll have enough spare accounts to last a lifetime of switches. Sounds very familiar to me, well both myself and Mrs aju to be precise, Excel has nearly caught fire with the adjustment spreadsheets to find the best way to structure movement for max returns and also record all the changes for the recent bungs too. It would be helpful if they all had the same time lengths on the changes if you ask me - not sure why they don't I thought there were notification rules but I guess they are guidelines. 
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m2btj
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Post by m2btj on Sept 25, 2020 15:19:49 GMT
I've been a rate tart for years & can honestly say, I had a great run with a dozen or so banks. Santander, ICICI & the Icelandic banks ran some great rates. It looks as if it's all coming to an end as rates flatline & we may yet pay for our banking. I'll be closing a few accounts in the coming months & my banking arrangements will get a whole lot easier. I may even dump the Santander 123 Lite when the account charge doubles to £2pcm in October.
Do I throw my hat in with HSBC for the £125 they are offering new account applications?
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aju
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Post by aju on Sept 25, 2020 15:49:29 GMT
I've been a rate tart for years & can honestly say, I had a great run with a dozen or so banks. Santander, ICICI & the Icelandic banks ran some great rates. It looks as if it's all coming to an end as rates flatline & we may yet pay for our banking. I'll be closing a few accounts in the coming months & my banking arrangements will get a whole lot easier. I may even dump the Santander 123 Lite when the account charge doubles to £2pcm in October. Do I throw my hat in with HSBC for the £125 they are offering new account applications? I'm a little bit wary of HSBC at the moment, it's taking an age and a day to get the info from them, its a new one for us. With any luck they won't penalise me as I haven't as yet got enough info to even set up online ( not on my PC anyway I don't work with toys!) My switch in is to pick up the £125 and maybe use the RegSaver - yeah i too have and still am a rate tart since before the last bank crisis maybe longer. My problem is that the switch should have completed by today but can't see anything on HSBC (No access) and the donor is still active. Got a debit card almost straight away but no info for days despite the initial email promising it quickly. I'm not giving up yet but the snail mail letters from the donors over the last 3/4 weeks are indicating the banks are struggling a little - probably with covid! I also checked out the trust pilot on HSBC and was shocked but to be fair they don;t seem to be interested in it as far as I can tell. I guess its all gonna be ok in the end but its been my worst experience with a bank since I first had a bank account some 50 odd years ago although lloyds is hard to beat for incompetence too.
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Post by Deleted on Oct 10, 2020 13:46:14 GMT
I'm a little bit wary of HSBC at the moment, it's taking an age and a day to get the info from them, its a new one for us. With any luck they won't penalise me as I haven't as yet got enough info to even set up online ( not on my PC anyway I don't work with toys!) My switch in is to pick up the £125 and maybe use the RegSaver - yeah i too have and still am a rate tart since before the last bank crisis maybe longer. My problem is that the switch should have completed by today but can't see anything on HSBC (No access) and the donor is still active. Got a debit card almost straight away but no info for days despite the initial email promising it quickly. I'm not giving up yet but the snail mail letters from the donors over the last 3/4 weeks are indicating the banks are struggling a little - probably with covid! I also checked out the trust pilot on HSBC and was shocked but to be fair they don;t seem to be interested in it as far as I can tell. I guess its all gonna be ok in the end but its been my worst experience with a bank since I first had a bank account some 50 odd years ago although lloyds is hard to beat for incompetence too. , did things get sorted with HSBC? I think I'm probably a few days behind you and, like you, have a debit card but have heard nothing about the switch which should already have happened. Do I need to ring to order the telephone security number or will that come automatically so I can then register for online banking? Has your switch now happened without any prodding from you, or will I need to chase that up to make it happen and get the £125? Thanks for any info you can give!
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aju
Member of DD Central
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Post by aju on Oct 10, 2020 15:49:39 GMT
I'm a little bit wary of HSBC at the moment, it's taking an age and a day to get the info from them, its a new one for us. With any luck they won't penalise me as I haven't as yet got enough info to even set up online ( not on my PC anyway I don't work with toys!) My switch in is to pick up the £125 and maybe use the RegSaver - yeah i too have and still am a rate tart since before the last bank crisis maybe longer. My problem is that the switch should have completed by today but can't see anything on HSBC (No access) and the donor is still active. Got a debit card almost straight away but no info for days despite the initial email promising it quickly. I'm not giving up yet but the snail mail letters from the donors over the last 3/4 weeks are indicating the banks are struggling a little - probably with covid! I also checked out the trust pilot on HSBC and was shocked but to be fair they don;t seem to be interested in it as far as I can tell. I guess its all gonna be ok in the end but its been my worst experience with a bank since I first had a bank account some 50 odd years ago although lloyds is hard to beat for incompetence too. , did things get sorted with HSBC? I think I'm probably a few days behind you and, like you, have a debit card but have heard nothing about the switch which should already have happened. Do I need to ring to order the telephone security number or will that come automatically so I can then register for online banking? Has your switch now happened without any prodding from you, or will I need to chase that up to make it happen and get the £125? Thanks for any info you can give! Still slogging on sadly, its a good job i did not transfer my day to day account as its now been 24 days since opening and transferring my donor account. I got bank counts from all the main banks and then some and this is by far the one that has been like watching paint dry. My switch completion was a bit confusing I thought I had asked for the earliest completion of 25/9 but it turned out it completed on the 30/9. They seem to use snail mail for most stuff as far as I can tell. I only know the completion occurred as it closed my donor account. (I've a feeling that mine was delayed as I selected credit card when I though it meant debit card so that seemed to slow things as far as I could tell.) So I tried to setup my online banking for this account on 2/10 when I received my Telephone Banking ID Letter - it failed at the last page/hurdle so had to ring them up and get the last stage sorted which funnily enough turned out to be the selection for the secure Key. I did not want to use mobiles for any banking as i'm not comfortable they are secure enough for me so the person I spoke to ordered me a "hardware secure key" - a miniature keypad thingy. It finally came today - 10/10. Now I am waiting for an activation code for the secure key - apparently it will arrive "shortly" their words not mine. I only have 6 more days to comply with their £1750 but since I want to transfer it straight back I am waiting for online banking to work. I have catalogued every step of the way - I always do with new accounts - and its like something out of the ark. No wonder this company has so many issues with regulations and dodgy practices!. Not sure its much help to you though and since I'm still struggling with their inability to co-ordinate terminology across multiple documents/teams etc its no wonder I and I guess many others are as confused as fcuk. So far I have telephone banking working and I have sent tester £1 to check it was received but until I get full access I am reluctant to commit nearly £2000 to remove this months fee. Edit: I'm not sure about digital secure key ring them they seemed to be very good when I did this for my online banking set up problems detailed above.
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Post by Deleted on Oct 10, 2020 16:43:07 GMT
My switch completion was a bit confusing I thought I had asked for the earliest completion of 25/9 but it turned out it completed on the 30/9. They seem to use snail mail for most stuff as far as I can tell. I only know the completion occurred as it closed my donor account. (I've a feeling that mine was delayed as I selected credit card when I though it meant debit card so that seemed to slow things as far as I could tell.) So I tried to setup my online banking for this account on 2/10 when I received my Telephone Banking ID Letter - it failed at the last page/hurdle so had to ring them up and get the last stage sorted which funnily enough turned out to be the selection for the secure Key. I did not want to use mobiles for any banking as i'm not comfortable they are secure enough for me so the person I spoke to ordered me a "hardware secure key" - a miniature keypad thingy. It finally came today - 10/10. Now I am waiting for an activation code for the secure key - apparently it will arrive "shortly" their words not mine. thanks for your reply. Just a couple of follow-up queries if I may: 1. Your switch completed on 30/9 - was that without you really doing anything to chase? If so, I expect my switch may happen in the next week which would be good. 2. I think it's the Telephone Banking ID letter I need the most. Did that arrive without any chasing? If so, hopefully that may come next week too. I'm pretty sure there is no fee for the Advance account, even if you don't pay in the £1750 per month. They just downgrade your account to a plebs' standard account. You can also pay in £10500 every 6 months, so they will need to wait 6 months before they know you haven't paid in that amount and downgrade the account. I'm sure there will be some leeway for new accounts too. The switching cashback is only for the Advance account (and Premier?) so once we've got that it doesn't really matter as the regular saver account is available either way (I think they used to pay different rates a while back). Cheers.
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aju
Member of DD Central
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Post by aju on Oct 10, 2020 17:38:02 GMT
My switch completion was a bit confusing I thought I had asked for the earliest completion of 25/9 but it turned out it completed on the 30/9. They seem to use snail mail for most stuff as far as I can tell. I only know the completion occurred as it closed my donor account. (I've a feeling that mine was delayed as I selected credit card when I though it meant debit card so that seemed to slow things as far as I could tell.) So I tried to setup my online banking for this account on 2/10 when I received my Telephone Banking ID Letter - it failed at the last page/hurdle so had to ring them up and get the last stage sorted which funnily enough turned out to be the selection for the secure Key. I did not want to use mobiles for any banking as i'm not comfortable they are secure enough for me so the person I spoke to ordered me a "hardware secure key" - a miniature keypad thingy. It finally came today - 10/10. Now I am waiting for an activation code for the secure key - apparently it will arrive "shortly" their words not mine. thanks for your reply. Just a couple of follow-up queries if I may: 1. Your switch completed on 30/9 - was that without you really doing anything to chase? If so, I expect my switch may happen in the next week which would be good. 2. I think it's the Telephone Banking ID letter I need the most. Did that arrive without any chasing? If so, hopefully that may come next week too. I'm pretty sure there is no fee for the Advance account, even if you don't pay in the £1750 per month. They just downgrade your account to a plebs' standard account. You can also pay in £10500 every 6 months, so they will need to wait 6 months before they know you haven't paid in that amount and downgrade the account. I'm sure there will be some leeway for new accounts too. The switching cashback is only for the Advance account (and Premier?) so once we've got that it doesn't really matter as the regular saver account is available either way (I think they used to pay different rates a while back). Cheers. 1. Not exactly - I queried things on twitter DM but to be honest they didn't do much except suggest things maybe a bit slower due to large number of new customers etc. 2. The TB letter was in fact a snail mail one arrived with the TB ID in post 2/10. I rang them then when it failed the final page setup screen which if the guy I spoke to is right was a selection for the "secure ID keypad" or "mobile digital ID" version. I read everything i could to try and find ouot about the fee/1750 but could not determine if missing the 1750 in the first period was an issue. (I'll be hitting them hard if this stuff fails due to timings as to be honest they are a shower of sh1te compared to the worst banks i've worked with over the last 50 odd years.)
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Post by Deleted on Oct 10, 2020 17:51:15 GMT
Thanks aju I'll give them another week before contacting them. I hope you get your £125 after all the hassle. It's due within 30 days I think. |
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aju
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Post by aju on Oct 10, 2020 18:20:18 GMT
Thanks aju I'll give them another week before contacting them. I hope you get your £125 after all the hassle. It's due within 30 days I think. Me too, i've just noticed in my blow by blow record that my switch completed on 30th and the letter to say this was the case arrived on the doorstep on 5/10. The secure key thingy arrived today 10/10 (8 days). Snail mail is no way to run a business these days and covid issues must be exacerbating the situation too. All looking very noddy and big ears like!
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Post by df on Oct 10, 2020 19:43:13 GMT
Me too, i've just noticed in my blow by blow record that my switch completed on 30th and the letter to say this was the case arrived on the doorstep on 5/10. The secure key thingy arrived today 10/10 (8 days). Snail mail is no way to run a business these days and covid issues must be exacerbating the situation too. All looking very noddy and big ears like! Two 'potty mouth' posts and now testing political correctness? Not at all like you aju I must admit sometimes this 'easy money' seems like an almighty amount of work to get. I think I've cashed on all switching offers for which I'm eligible and most of them were £100-£250 for almost no effort, but some required a lot of time and engagement. The longest one to open was M&S, can't remember exactly, but definitely more than a month. There were endless letters and phone calls before I got it opened and online. I've recently opened 4 Virgin current accounts - 3 of them had an instant success, but 1 took a couple of weeks of letters and very long phone calls.
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Post by df on Oct 10, 2020 20:38:59 GMT
aju thanks for your reply. Just a couple of follow-up queries if I may: 1. Your switch completed on 30/9 - was that without you really doing anything to chase? If so, I expect my switch may happen in the next week which would be good. 2. I think it's the Telephone Banking ID letter I need the most. Did that arrive without any chasing? If so, hopefully that may come next week too. I'm pretty sure there is no fee for the Advance account, even if you don't pay in the £1750 per month. They just downgrade your account to a plebs' standard account. You can also pay in £10500 every 6 months, so they will need to wait 6 months before they know you haven't paid in that amount and downgrade the account. I'm sure there will be some leeway for new accounts too. The switching cashback is only for the Advance account (and Premier?) so once we've got that it doesn't really matter as the regular saver account is available either way (I think they used to pay different rates a while back). Cheers. 1. Not exactly - I queried things on twitter DM but to be honest they didn't do much except suggest things maybe a bit slower due to large number of new customers etc. 2. The TB letter was in fact a snail mail one arrived with the TB ID in post 2/10. I rang them then when it failed the final page setup screen which if the guy I spoke to is right was a selection for the "secure ID keypad" or "mobile digital ID" version. I read everything i could to try and find ouot about the fee/1750 but could not determine if missing the 1750 in the first period was an issue. (I'll be hitting them hard if this stuff fails due to timings as to be honest they are a shower of sh1te compared to the worst banks i've worked with over the last 50 odd years.) I couldn't find anything suggesting that your switch bonus should depend on £1750. There's definitely no fee for Advance account. I've stopped paying in'n'out £1750 some time ago, so they should "upgrade" it to an ordinary current account soon - it doesn't matter anymore because Advance is no longer required for running RegSaver.
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Post by Badly Drawn Stickman on Oct 10, 2020 21:05:35 GMT
Two 'potty mouth' posts and now testing political correctness? Not at all like you aju I must admit sometimes this 'easy money' seems like an almighty amount of work to get. I think I've cashed on all switching offers for which I'm eligible and most of them were £100-£250 for almost no effort, but some required a lot of time and engagement. The longest one to open was M&S, can't remember exactly, but definitely more than a month. There were endless letters and phone calls before I got it opened and online. I've recently opened 4 Virgin current accounts - 3 of them had an instant success, but 1 took a couple of weeks of letters and very long phone calls. Ah yes Virgin, I set a new personal best time from deciding to open to moving funds into of 5 minutes last week. Even I am slightly embarrassed by how many I have. I can no longer match pin numbers to cards they are arriving so quickly. When the inevitable rate reduction happens and they become redundant I will just transfer them into each other in a black hole style clearance and possibly use the redundant debit cards to tile my workshop roof. Surprisingly little exaggeration in that.
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