26-04-2018, 06:46 PM
Just heard on the news that TSB will be paying 5% interest on current accounts in a move to retain customers after a week's IT debacle.
5% from TSB
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26-04-2018, 06:46 PM
Just heard on the news that TSB will be paying 5% interest on current accounts in a move to retain customers after a week's IT debacle.
26-04-2018, 06:53 PM
26-04-2018, 06:55 PM
Sorry - it didn't say - was just a bit of a piece re IT problem - but did say "just announced".
26-04-2018, 06:56 PM
(26-04-2018, 06:53 PM)timmy Wrote: Any limit on balance? New accounts too?https://www.moneysavingexpert.com/news/b...mpensation- ".... It says it will also be increasing the interest rate on its Classic Plus account to 5% AER from 3% AER from 2 May" The Classic Plus account site notes...
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27-04-2018, 05:28 PM
(26-04-2018, 06:56 PM)arcticarnie Wrote: https://www.moneysavingexpert.com/news/b...mpensation-Used to be on up to £3k. If i remember correctly, had hoped they would up that as well.
27-04-2018, 07:22 PM
I should think so, it's absolutely outrageous what's happened.
I attempted to contact TSB yesterday morning, out of three telephone numbers given on the website two gave the message 'this service cannot be connected' and the two calls I made to the third number were cut off after waiting twenty five and fifteen minutes, a classic example of the cr*p that's offered as customer service by far too many organisations. As for the IT people who I presume claimed they could complete the operation in approximately 48 hours, 6pm Friday to 6pm Sunday, every one of them should be shown the door along with Pester and other TSB top brass who were daft enough to believe the IT geeks.
28-04-2018, 08:05 AM
Yes, what a shambles, and no contingency planning it seems. Makes me wonder (a) why there couldn't have been a gradual rollout to groups of customers in order to test the infrastructure and (b) why there was no option to roll back to the Lloyds system. It does appear that there are still problems, for example if I try to use their app it keeps making me reset my password.
Still 5% is welcomed and I got in before they reduced it to one account per customer.
28-04-2018, 08:58 AM
(28-04-2018, 08:05 AM)mason Wrote: Yes, what a shambles, and no contingency planning it seems. Makes me wonder (a) why there couldn't have been a gradual rollout to groups of customers in order to test the infrastructure and (b) why there was no option to roll back to the Lloyds system. It does appear that there are still problems, for example if I try to use their app it keeps making me reset my password.Eighth day of having no desktop access - poor! Disappointing as I was a very happy customer until a week ago. App seems to be working OK now, but I love my 24 inch monitor! That rules out switching to my Monzo account...
28-04-2018, 09:38 AM
I know it's little consolation for those who have been severely affected, but do be sure to put in your compo claims here: https://www2.tsb.co.uk/help/complaint-form/
Banks tend to be relatively quick to compensate with cash payments for general inconvenience, of which nearly everyone with TSB will have experienced. PLus if you have any specific losses then you can request they are refunded too.
28-04-2018, 10:50 AM
(28-04-2018, 08:05 AM)mason Wrote: Yes, what a shambles, and no contingency planning it seems. Makes me wonder (a) why there couldn't have been a gradual rollout to groups of customers in order to test the infrastructure and (b) why there was no option to roll back to the Lloyds system. It does appear that there are still problems, for example if I try to use their app it keeps making me reset my password.Rolling back to Lloyd's wasn't an option as soon as they allowed the ATM and debit transfers to be connected to Link and Visa. The tsb version of the accounts records would have been out of date on the Lloyds system and total chaos would have ensued, making this look mild by comparison. I assume something similar is the reason why it couldn't be done in chunks of customers. Customers would have needed to go to different websites or apps if they were or were not migrated. Interestingly the migration of Halifax into Lloyd?s a few years back, whilst not perfect, did work on day 1. So this sort of migration is possible. edit. The 5% is nice, but at a maximum of £5 per month improvement pre tax per account, it's not going to help that much. I've not seen anything how long that rate lasts either... 1 month?
28-04-2018, 11:46 AM
(28-04-2018, 10:50 AM)swiss Wrote: edit. The 5% is nice, but at a maximum of £5 per month improvement pre tax per account, it's not going to help that much. I've not seen anything how long that rate lasts either... 1 month?There's been no mention of a time limit, but if they only increased it for 1 month then it would probably do more harm to their reputation than if they left it at 3%.
28-04-2018, 12:30 PM
(28-04-2018, 11:46 AM)mason Wrote: There's been no mention of a time limit, but if they only increased it for 1 month then it would probably do more harm to their reputation than if they left it at 3%.I *think* that I read something saying that the intention was that 5% would be a relatively long term rate, but presumably that means "until we decide to cut it". I'd agree that merely offering it for a month or two would not help the situation.
29-04-2018, 01:38 PM
They really have ballsed it up spectacularly. This morning, out of 3 attempts to login and delete a standing order, twice the service was 'unavailable' and on the third all of my standing orders and direct debits had disappeared. I do feel for anyone who uses TSB as their only account.
Edit: Oh, and apparently my direct debit to pay off my TSB CC was last paid on 31/12/2099
30-04-2018, 11:42 AM
Well I'll take the 5% for a year even though the amount that qualifies for interest per account is minute although my wife and I have a total of eight eligible accounts thanks to a c*ck up administrative error by TSB some years back. P-)
30-04-2018, 12:20 PM
(28-04-2018, 09:38 AM)swissfrank Wrote: I know it's little consolation for those who have been severely affected, but do be sure to put in your compo claims here: https://www2.tsb.co.uk/help/complaint-form/Better still, write to the two Executive Directors and COO at TSB HQ in Edinburgh. Some years ago I had a number of issues with one of the big banks which were not being resolved through branch or call centre interactions therefore I wrote letters addressed to the then Chairman and CEO stating that they wouldn't accept such cr*p (rather more politely expressed) service so why should I? This resulted in the problems being sorted within a matter of days plus a better financial gesture of goodwill than would have been paid through the normal complaint channels. The moral being that people in ivory towers don't like being challenged and consider themselves above criticism therefore I suggest that instead of wasting time with the TSB complaints procedure go straight to the top people, if nothing else, the complaint will be dealt with through the regular channels and the compo payment could be enhanced. Nothing ventured, nothing gained!
03-05-2018, 06:42 AM
From tsb email...
Quote:For Classic Plus customers, as well as waiving overdraft fees and interest charges incurred in March and April, to show how grateful we are for your loyalty and patience, we are also increasing the interest rate on our Classic Plus account from 3% to 5%. We promise this won?t be taken away after a year.
03-05-2018, 07:43 PM
Spent approximately two hours today over four separate calls without managing to speak to anyone, it seems impossible to communicate with TSB other than by visiting a branch, unfortunately my bodyguards weren?t available for a trip into Bradford.
04-05-2018, 11:43 AM
Nationwide are doing a current account with 5% for the first year on upto £2500
04-05-2018, 02:12 PM
Good deal for £2.5K but Be Warned, I have found the security aspects etc of navigating Nationwide's website to be fraught with difficulties.
Security that tight is arguably a good thing of course but using their website can be a pain.
05-05-2018, 08:06 PM
I find nationwide to be one of the easiest, as long as i have my card reader at hand. If i have to remember all the magic words and numbers it is indeed a royal pain. Their Android app isn't bad either, slthough first direct is supposedly better.
Wish they had such good deals for long time members though, as they used to sdvertise. |