TSB interest rates are down

Money, investing, mutuals etc
parchedpeas
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Re: TSB interest rates are down

Post by parchedpeas » Wed Sep 23, 2020 7:51 pm

£30 spend for £5 return is pretty good rate, especially if you can automate it.

Amazon spenders can do a recurring £1 a day top-up that will cover it, for example. If you're likely to spend £180 at Amazon at some point in the next six months, then it's worth considering.

Sarah
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Re: TSB interest rates are down

Post by Sarah » Wed Sep 23, 2020 9:05 pm

TSB Spend & Save Account - Cashback T&Cs
https://www.tsb.co.uk/current-account-c ... itions.pdf

I was usually achieving 30 small supermarket purchases a month for Co-op Everyday Rewards (which works on a similar basis) quite easily before lockdown; although it's slightly more difficult lately. I don't think there's a need to spend £1 each time. I typically use a debit card for some of the cheapest items in my shopping basket, like 17p bottled water and anything reduced to clear, then pay for everything else with a gift card. However, I won't be attempting 30 transactions for TSB + another 60 transactions for the Co-op each month!

TSB paying £5 cashback for 30 transactions works out at 16.7p each, significantly better than 5p each from the Co-op, so long as you reach the target!

planteria
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Re: TSB interest rates are down

Post by planteria » Thu Sep 24, 2020 8:54 am

Sarah wrote:
Wed Sep 23, 2020 9:05 pm
I typically use a debit card for some of the cheapest items in my shopping basket, like 17p bottled water and anything reduced to clear, then pay for everything else with a gift card.
again, it's good commitment. but i would feel like a bit of a berk buying individual items via separate transactions.

Sarah
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Re: TSB interest rates are down

Post by Sarah » Thu Sep 24, 2020 9:22 am

It's not a problem using self service when it's quiet so that other customers aren't delayed. I wouldn't do that (and preferably avoid shopping at all) when a supermarket is busy.

Here's another tip that I discovered: In some supermarkets (e.g. Sainsbury's but not Tesco) it's possible to split payments for a single transaction when using a gift card, so can easily put most of the cost on a gift card and just the last 5p or whatever on a debit card. This also has a secondary advantage that if you later return anything, they usually offer the refund as cash or debit card, instead of going back onto the gift card.

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Re: TSB interest rates are down

Post by pabenny » Thu Sep 24, 2020 10:43 am

The TSB £5/month is only for the first 6 months.

planteria
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Re: TSB interest rates are down

Post by planteria » Fri Sep 25, 2020 9:49 am

you're a pro Sarah.. and i clocked that on their email yesterday too pab..
fwiw getting into the habit for 6 months, and getting a system in place, for it to dry up after £30, doesn't feel worth the hassle to me. my TSB account is ripe for a transfer when the right opportunity presents itself.

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Re: TSB interest rates are down

Post by AAAlphaThunder » Fri Sep 25, 2020 6:46 pm

planteria wrote:
Fri Sep 25, 2020 9:49 am
you're a pro Sarah.. and i clocked that on their email yesterday too pab..
fwiw getting into the habit for 6 months, and getting a system in place, for it to dry up after £30, doesn't feel worth the hassle to me. my TSB account is ripe for a transfer when the right opportunity presents itself.
Agree, Sarah is something else.
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Re: TSB interest rates are down

Post by kevinchess1 » Wed Oct 14, 2020 10:51 am

I only ever got the TSB account for the decent east access interest, 5% on 2K? Plus anither £5 for using the DD card.
I stuck with it because, even at the reduce rates it was still good
Come DEC I will move it to another bank, maybe NW, for the interest or any/other for a incentive. Then probably move again/again
Politically incorrect since 69

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