24-09-2020, 12:15 PM
1
My Stingy Bank!
Oh well, that just about sums up the way Banks treat its customers. We have over the years,had a Platinum current account with the TSB. We have paid £20 per month (which kept going up from the original £10 per month) for the 'privilege' of the small perks that went with it such as authorised overdraft (never used) of £250, AA Roadside and Travel Insurance (now useless with Covid) so really all that it is good for is the AA Roadside. For £240 per year I would expect the AA to come and open my door for me every time I used the bloomin car!Anyhow, the current interest was a pathetic 0.25% but this morning we had a letter stating that the interest was being changed to a magnificent 0.0% !! Thank you for your kind generosity,TSB. Thank God we don't have to depend on interest to survive!
Obviously, we will be closing this account and reverting to a basic Classic account, but what a way to treat customers.
Is your bank as stingy as ours?
P.S. Just been told by my brother that the TSB have raised the fee from £20 to £21 per monthfor the Platinum account. Not a mention in the interest letter though!
24-09-2020, 12:20 PM
2
Re: My Stingy Bank!
Originally Posted by shropshiregirl
->
Oh well, that just about sums up the way Banks treat its customers. We have over the years,had a Platinum current account with the TSB. We have paid £20 per month (which kept going up from the original £10 per month) for the 'privilege' of the small perks that went with it such as authorised overdraft (never used) of £250, AA Roadside and Travel Insurance (now useless with Covid) so really all that it is good for is the AA Roadside. For £240 per year I would expect the AA to come and open my door for me every time I used the bloomin car! Anyhow, the current interest was a pathetic 0.25% but this morning we had a letter stating that the interest was being changed to a magnificent 0.0% !! Thank you for your kind generosity,TSB. Thank God we don't have to depend on interest to survive!
Obviously, we will be closing this account and reverting to a basic Classic account, but what a way to treat customers.
Is your bank as stingy as ours?
Yep, HSBC are.
I have an AAdvantage account with them, 9.05 a month.
Useless apart from the travel insurance, which ends when I am 70'
24-09-2020, 12:30 PM
3
Re: My Stingy Bank!
I'm in agreement with you there Swimmy. I'm getting mighty tired of Banks and Insurance companies take take take from loyal customers.Nothing to do with the banks I appreciate, but I am pleased at last that the Government has come down hard on all of the insurance companies and the law is being brought in before the end of this year that any Insurance company that charges loyal customers a penny more than they charge with the discounts for new customers, will be for the high jump!
I do wish they would do the same with interest rates. They have our money and yet treat us disgracefully.
24-09-2020, 01:27 PM
5
Re: My Stingy Bank!
Originally Posted by shropshiregirl
->
I'm in agreement with you there Swimmy. I'm getting mighty tired of Banks and Insurance companies take take take from loyal customers.Nothing to do with the banks I appreciate, but I am pleased at last that the Government has come down hard on all of the insurance companies and the law is being brought in before the end of this year that any Insurance company that charges loyal customers a penny more than they charge with the discounts for new customers, will be for the high jump!
I do wish they would do the same with interest rates. They have our money and yet treat us disgracefully.
Interest Rates could soon go negative.
Being charged for having money in the Bank.
24-09-2020, 02:31 PM
6
Re: My Stingy Bank!
Originally Posted by swimfeeders
->
HiInterest Rates could soon go negative.
Being charged for having money in the Bank.
They have!!! The letter from the TSB this morning states
Quote
We wanted to let you know that from 2 December 2020, we're reducing the interest rate on your Platinum Enhance account from 0.25% AER* to 0% AER.
Unquote
Be damned if we are going to continue to pay for the privilege of the TSB having our money.
We may as well keep it under the mattress!
The customer is obviously last on the list for consideration.
Thanks to the Government helping the banks out with cash surplus, the banks no longer need to depend on customers' money, hence the way we are being treated with interest rates.
24-09-2020, 02:43 PM
8
Re: My Stingy Bank!
Originally Posted by Mags
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Same with Lloyds, we have now reverted back to their Classic Account after not taking advantage of their offers.
the bank AA policy is offering less than the going with the AA and RAC direct. They are offering good deal for £14 per month so happy with that. 12 month travel insurance within the UK cannot be that much, and mobile phone hardly leaves the coffee table so not much chance of it being lost or stolen.
24-09-2020, 03:10 PM
9
Re: My Stingy Bank!
When you really look into these so-called "Premium" accounts, they are, each and every one of them, a rip-off, serving only to swell the banks' coffers. We used to have such an account with the Halifax (tied to our mortgage offer) which cost £5/month then but, after we remortgaged, we closed the account because we could get the "perks" cheaper elsewhere. Since then, we have told our bank (not the Halifax any more) to stop pestering us with these stupid offers or we would take our custom elsewhere - it stopped!24-09-2020, 04:28 PM
10
Re: My Stingy Bank!
Good for you Percy. The banks seemingly treat us customers as necessary irritants while at the same time robbing us of the interest that they used to first entice us to bank with them and we foolish people then pay them for the privilege. No more!My goodness, does anyone remember the good ol' days when banks used to actually compete with each other with attractive interest rates? especially with long term investments. Where did they go?
Sadly, I don't think we will ever see that happening ever again.
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