TSB Plus - abolishing credit interest

TSB don’t really have a lot going for them now at all. I can’t think of one thing they excel in.


TSB excels in IT meltdowns and migration cockups. :sweat_smile:


Well, there is that. Apologies.


I hated TSB anyway. They made you go into branch for the smallest things.

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If this is all part of a strategy to get TSB ready for a sale, it’s going very well.

This will now scare off any customers except for the hardcore ones who have already stuck with them through thick and thin - and they won’t mind another IT migration to the “destination” Bank anyway, as history shows.

Then TSB can just put the awful Proteo4UK platform in the bin and finally move on - it was never going to work well if the programming team were based in Spain anyway, how could they have any idea of TSB’s legacy requirements for data?

I thought they were already bought by Sabadell who would they be offloading it to? Or do you mean TSB will be rebranded Banco Sabadell?

Yes they were bought by Sabadell.

But the rumour is that, after the disaster of the 2018 crash, Sabadell started looking to sell TSB off to another player in the U.K. market.

If the Plus account has no interest, I’d hate to think what the standard account has.

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The standard account has been withdrawn from sale!

:thinking: Will be hard to convince another bank to buy a turd in this climate, even if it’s going cheap.

It would be for somebody like CYBG to expand their customer numbers. After all, anybody left at TSB is exceedingly loyal and won’t switch lightly.

The mass branch closures are also a way to get rid of unprofitable locations and make this easier.

Yeah possibly Virgin could buy the customer base. Although it already has the headache of killing off Clydesdale/Yorkshire this year.

Meant to be next month everything becomes Virgin Money but that might get pushed back a second time to 2021.

I think all the banks will be doing this, they’re all anticipating negative interest rates. It’s pretty dire for savers.

I can’t entirely see what negative interest rates will do to help.

TSB was cooked after it’s migration mess up, you’d have to be pretty loyal to stay with them for another migration, if that’s what actually happens.

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Very disappointed myself, but to be honest it seems to be the way things are going at the moment. Negative interest rates look to be on the cards and banks are responding. I’m not convinced they’ll do the market any favours whatsoever, but here we are.

TSB must surely realise after all the IT meltdowns and STILL regular problems with mobile banking, many of us have just lost our only reason to stay.

Nevertheless, this could well be a good reason to switch my secondary account to Monzo and give them more of my business instead.

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