If you considering changing your current account TSB are now offering a £125 incentive to switch to them, This is on top of 5% interest on balances up to £2000, 5% Cashback on up to £100 of Contactless payments per month and the option of a 5% regular saver account.
The £125 incentive starts today is exclusive to Money supermarket .com, so make sure if you switch you do so via the link, and not via the TSB normal web site.
Get up to £185 on the current account that gives you plusness
£125 for switching - open a Classic Plus account by
2 November 2015 and switch to us using the Current Account Switch Service before 23 November 2015.
Pay in at least £500 into your new account within
28 days of the switch completing and register a minimum of 2 active Direct Debits.
Plus get up to £60 in the first year - If you have a contactless debit card (subject to status and eligibility) and you are registered for internet banking, get 5% cashback on your first £100 of contactless payments every month - ends Dec 2016.
What you get
£125 when you open a Plus account and then switch to us
5% AER/4.89% gross variable interest paid monthly on balances up to £2,000
To earn interest (which is paid monthly) just pay in a minimum of £500 a month and register for Internet Banking, Paperless Statements and Paperless Correspondence. No interest is paid on your balance over £2,000
No monthly fees
TSB Visa debit card – contactless debit card subject to status and eligibility
5% cashback on your first £100 of contactless payments every month (ends Dec 2016)
Optional fee free £25 planned overdraft available (subject to application and approval)
Access your account online, via mobile banking, telephone banking or in branch
Once you have a TSB current account, get a 5% AER/gross (fixed) Monthly Saver for 12 months. Simply setup a standing order and save from £25 to £250 a month - at the end of your term your account will convert to a variable rate Easy Saver Account, currently paying 0.75% gross/AER variable including a fixed bonus of 0.55% for the first 12 months
Note: You cannot replace money withdrawn. Instant access
You must be 18 or over and a UK resident to apply. The Classic Plus account is restricted to one account in your sole name, and another Plus account in joint names
Top comments
marineville to stephenr
11 Oct 1516#19
what you'll get in total is:
125.00 joining fee
80.00 interest (after basic tax) on 2000.00
80.00 interest (after basic tax) on another 2000.00 (you can open a second account but assuming you can't transfer two accounts over)
64.60ish on regular saving of 250.00 for 12 months (after basic tax)
so, just short of 350.00 in the first year PLUS whatever you can make on the 5% using the contactless payment card (although it's a bit patchy as most petrol stations won't take it, morrisons do at both, as do morrisons and tesco have an icon on their tills but still don't) and it's prone to not working without a normal pin number payment to reset, which is a royal pain when you're trying to pay for petrol at 19.99 and then it refuses to go contactless so you then have to pay with your santander card to get the 3% off from them instead).
so damned well worth it.
incidentally, mods... where would i set up a discussion to list which retailers use contactless payments?
HankHandsome
11 Oct 156#1
nuts .. just switched to nationwide for "only" £100 cashback ..
stryker2001
17 Nov 154#289
Today, exactly 28 days after opening my account ive just received £125 credit. Thanks TSB and thanks to everyone who posted the deal
leeparsons to cliosport65
11 Oct 154#47
loyality gets you no where with the scum that crippled the country. So play them at there own game, ditch and switch
All comments (301)
HankHandsome
11 Oct 156#1
nuts .. just switched to nationwide for "only" £100 cashback ..
rdbradshaw to HankHandsome
11 Oct 152#3
Me to but did you not go through quidco , it was £75 at the time .
lady_muck
11 Oct 151#2
thank you op!
HankHandsome
11 Oct 152#4
no, it was an "exclusive" moneysupermarket offer. i should hopefully get the cheque in a couple of weeks.
stephenr
11 Oct 15#5
On the £2k you'll get about £6.44 a month
marineville to stephenr
11 Oct 1516#19
what you'll get in total is:
125.00 joining fee
80.00 interest (after basic tax) on 2000.00
80.00 interest (after basic tax) on another 2000.00 (you can open a second account but assuming you can't transfer two accounts over)
64.60ish on regular saving of 250.00 for 12 months (after basic tax)
so, just short of 350.00 in the first year PLUS whatever you can make on the 5% using the contactless payment card (although it's a bit patchy as most petrol stations won't take it, morrisons do at both, as do morrisons and tesco have an icon on their tills but still don't) and it's prone to not working without a normal pin number payment to reset, which is a royal pain when you're trying to pay for petrol at 19.99 and then it refuses to go contactless so you then have to pay with your santander card to get the 3% off from them instead).
so damned well worth it.
incidentally, mods... where would i set up a discussion to list which retailers use contactless payments?
dk2401 to stephenr
12 Oct 151#164
That's assuming you're a basic rate taxpayer...
tonks13
11 Oct 15#6
Switched to this account last month so not eligible for £125
karlie88
11 Oct 152#7
Ta OP. Possibly the best fee-free current account out there at the moment.
tonks13
11 Oct 15#8
Rang to lodge complaint and they said if they get lots more then they will have to honour it to those who went direct to TSB!
The Bandit
11 Oct 15#9
How easy and reliable is it to switch banks? Do they sort out all of your direct debits, etc?
johnro
11 Oct 15#10
when you switch accounts, the new bank takes your direct debits too or you have to set them up?
Aeschylus to johnro
11 Oct 15#16
all done easily, you dont have to lift a finger, your old accounts are made dormant for 2 years so any transactions that happen on them automatically happen on your new acount
starbidder
11 Oct 15#11
TSB the bank that likes to say "YES!"
yahamesz
11 Oct 15#12
Yes the banks switching services will transfer all your direct debits, payee's for transfers so you don't have to re-enter them and your balance.
rdbradshaw
11 Oct 15#13
Ok that's why , I went down the refer a friend route , I'm aware you have to stay with the bank minimum off 3 months to keep the incentive .
dtj90
11 Oct 152#14
Do you have to close your account with other banks to take advantage of this deal?
delboyd
11 Oct 151#15
This is the third time I've voted hot on this same deal, people keep reposting it hahahaha. Strange site.
karlie88 to delboyd
11 Oct 151#20
As far as I'm aware, this is the second time the '555' deal has been posted.
It's certainly the first time that it's been posted with the £125 switch incentive.
peroxidase
11 Oct 153#17
Looks like a good account. Tempting - requires alot of work to keep at £2000 to exploit the 5% interest if using as only current account. Likely to be under and over £2000 all the time. I am thinking perhaps put £2000 in and then every month the £500 and move it back out - £250 to instant saver and £250 back where it came from. Also carry on using the 123 Santander for everything else.
RogerN to peroxidase
11 Oct 15#92
dont forget 123 account charge going up from £2 to £5 pm january...
MJ10 to peroxidase
11 Oct 15#96
Yea this is what I would try and do.
Any idea if I can 'switch' account but not actually close my current account? Want to keep my Halifax account but want to take advantage of this TSB one ASAP!
CheapLife
11 Oct 15#18
did this in June for £100 and they didn't pay so save all T's and c's and be ready for a fight if you go for it
marineville to CheapLife
11 Oct 15#23
there are all sorts of conditions: eg. they will only transfer like for like so, if you have a credit card with the incoming account, you MUST have one with the new one... similarly, if you set up a ghost account merely to take advantage of such deals but DON'T have a card with this ghost account then you MUSTN'T request one with the new account. am sure i could have explained that better but trust you get the gist. plus make sure (although not sure if TSB have it as a rule) that you have a minimum of two direct debits to transfer over too (they will do the paperwork to transfer those).
i only know this through falling foul of such terms myself!
kipikachuko
11 Oct 15#21
So I need to open an account first? Then wait until they accept me and switch to get £125? I'm confused! It says "you must first complete the account application and then the separate online switching form"
joejohnson39589
11 Oct 15#22
I just left this account last month anyone know if that means im not eligible for the £125?
leeparsons
11 Oct 15#24
man good deal, its not fair
Kimbrehhh
11 Oct 15#25
may sound silly, but I have old DDs set up that lay dormant on my current Natwest account (I think that's the best way of putting it)... they won't suddenly appear active on the new account will they?
and standing orders are transferred, too? thanks in advance!
HankHandsome to Kimbrehhh
11 Oct 15#29
I chose the account switching service with nationwide as you had to do it to get the offer and all of my direct debits and standing orders were created on the new account exactly as they were on my barclays account so I would assume any direct debits you have WILL be created. the "dormant" ones you have already are active, it's just that the company hasn't claimed them so this will be reflected in the new account
Andaho
11 Oct 152#26
Reading the Eligibility in the terms and conditions, this seems to have expired:
ssc1
11 Oct 15#27
ooh will go for the savings account.
vidic007007
11 Oct 15#28
Potentially interested, can anybody tell me what their mobile app/online banking system is like?
jonathan_d to vidic007007
11 Oct 15#42
they use the same app and website design that halifax uses, so one of the better ones out there.
paddymcn
11 Oct 15#30
Do any of the banks offer retention deals to hold on to your business?
HankHandsome to paddymcn
11 Oct 15#48
i've never known any bank ever to offer retention deals
rodman to paddymcn
11 Oct 15#67
Yes free to leave any bank
oscarcat
11 Oct 15#31
I have a current account and regular saver paying 4% with HSBC, Anyone know if I switch my current account now will the regular saver at HSBC continue, or will it be closed or the interest rate reduced?
friar_chris to oscarcat
11 Oct 15#43
You need a HSBC current account to run the regular saver. I have "switched" accounts before and avoided "closing" the old account. To really cash in on the b@[email protected][email protected] you need a second current account which is perpetually being switched between ever [email protected]!ng bank
cliosport65
11 Oct 152#32
shame its not available to existing customers :disappointed:
leeparsons to cliosport65
11 Oct 154#47
loyality gets you no where with the scum that crippled the country. So play them at there own game, ditch and switch
umar
11 Oct 15#33
im thinking about switching to halifax same money +£5 every month anyone with them?
take it this account is only better if you have savings etc...
thanks
oscarcat to umar
11 Oct 151#34
Think it depends whether your able to maintain a £2000 balance throughout the year in your account if so interest at 5% after tax would be £80 as opposed to £60 ( £5 per month) from Halifax, you can also get potentially an extra £5 a month extra if you contactless card.
AstalaVista to umar
11 Oct 15#72
Well I have accounts with both banks.
TSB have the 555 as mentioned by OP, while Halifax have switch incentive, ¿5 per month and if you have their credit card and spend ¿300 per month you get another ¿5 per month. And you can have 1 single and 1 joint account.
Hocky
11 Oct 15#35
I'm in tsb and upgraded so get all that
jennagough
11 Oct 15#36
do you have to put in a minimum amount each month does anyone know?
lugsy3 to jennagough
11 Oct 15#58
Yes £500. What I did last time was opened 2 accounts, one in mine and one in the Mrs names, then have £500 going backwards and forwards by standing order. £2000 in each account and the £500 going between the two if you can afford it, best option.Easy money.
m.ad
11 Oct 15#37
Damn it, signed up last week and currently in the middle of switching :disappointed: anyone know if they could honour it retroactively?
kel64
11 Oct 15#38
Why not?!
trumpton
11 Oct 15#39
I only have a joint account so that's ruled me out then!
kel64
11 Oct 15#40
Looking to switch our joint 123 account with the fee hike, guess they wont be getting our business then!
friar_chris
11 Oct 15#41
switch again then....
LoRdPlOps111
11 Oct 15#44
Just done this, for anyone worried about it being complicated, what with you having to fill out two forms and all, don't worry, incredibly easy took me literally 5 minutes.The cash will certainly come in handy at this time of year!
No, I don't work for TSB.
jennagough
11 Oct 15#45
do you have to out a minimum in each month?
FatherTed to jennagough
11 Oct 15#46
£500
stephenr
11 Oct 15#49
It's all about new business is this sector
defgimp
11 Oct 15#50
Yeah, I agree with that, there's a tidy "profit" to be made each year by switching an account :wink:
I struggle with having enough direct debits to satisfy the eligibility criteria, which can be annoying!
As much as Santander's fee hike is annoying, don't know of anywhere else to get 3% on 10k+?? so I'm not in a rush to ditch them just yet :wink:
This account requires a "switch", any decent deals out there for new accounts?? (With a view to it being used as an account to switch next year/year after/etc?)
DarkBat1
11 Oct 152#51
banks are taking the pi** with these savers rates
karlie88 to DarkBat1
11 Oct 15#56
With the Bank of England base rate remaining at 0.5% for several years, any savings/current account offering more than 0.5% credit interest is actually a good deal. Plenty are offering 3-6% credit interest, which is fantastic really when you think about it - especially when there's no risk to your capital.
leeparsons to DarkBat1
12 Oct 15#159
They are indeed. But you know how you can get back at them, is for everyone to be organized and with draw there funds. If everyone was organized and did this at a certain date ( a bit like the london riots, but not in a malicious thieving way like those scum did). Cripple them, and make them listen we wont put up with it, while they pay there selves increase of allot more than the so called worker, not including the bonus they take. Do you get a bonus I ask? Not likely. lol.
Rant over, and if all else fails, guns usually are pretty effective way of getting them to see your point of view. so try first option :smile:
Disclaimer i am not held responsible for my mad rant! :smile:
sazandy
11 Oct 15#52
available as joint account?
timp123
11 Oct 15#53
So what new account shall I open to then switch to this from? Need to find a couple of new direct debits too.
timp123 to timp123
11 Oct 15#54
Speaking of which, are there any rules on how long the ' donor' account has to be open for?
friar_chris
11 Oct 152#55
In the first instance just acquire 'any' new account and then 'switch' that new account. Banks will open an account in less than a month and you can switch more than once a year. AS for direct debits..... I use PayPal for one, and just transfer a penny to in each month in addition to the things I buy on eBay. Creditcards are also good. Most allow you to set up a new direct debit or change the account details online. I pay the full balance on 6 each month and cycle through them with purchases. I've dropped the credit limit to £200 on all of them. That plus any utility bills you have means you can operate quite a few current accounts.
ACIDFORUMS
11 Oct 15#57
out?
myskepticsight
11 Oct 15#59
Hot! Great account, 5% in credit interest up to £2000 is brilliant, plus the additional benefits of having cash back on contactless spend, all they need now is to support Apple Pay. With the joining bonus this is a must have - sadly I already have two accounts with them so I can't take advantage of the offer!
jennagough
11 Oct 15#60
put!!!!!
FatherTed
11 Oct 15#61
In.
Or in and then straight back out to another account on the same day as I do.
Antagonist1
11 Oct 15#62
Got one of these myself. Good interest, the bank is really bad though, have had nothing but problems with them.
simonhzero to Antagonist1
11 Oct 15#66
What issues have you had with them?
TheBoss96
11 Oct 15#63
thanks
Kimbrehhh
11 Oct 15#64
awesome, thanks for the info!
josephmccowie
11 Oct 15#65
Thanks, just switched from Halifax (switched to them from Santander just over a year ago for their £100 reward :laughing: .)
karlie88
11 Oct 15#68
Why leave for free? Might as well get £100 with First Direct.
I did this in August for the £100 credit. It all went well, you need to switch to paperless statements and correspondence as well as the rest of the criteria. The credit was paid 1 month after the switching date directly into the account. The contactless doesn't work if it's the first time in one place. At least that's how it seems.
The mobile app is OK, identical to Lloyds if that helps.
BrandoX
11 Oct 15#70
I recently (this June) switched from TSB to Halifax for switching incentive. Do you think I'm eligible for £125 if I return to them? Can't see it in terms and conditions
Pristar007
11 Oct 15#71
Great offer, does anyone know when I will be able to switch to another current account? I heard constantly switching can harm your credit rating.
danielle10
11 Oct 15#73
This may be a stupid question but would I have to register an additional two new direct debits on top of the ones that will switch over? It doesn't specify in the terms and conditions.
backtothecaves
11 Oct 15#74
just thinking about switching. This looks sweet.
Antagonist1
11 Oct 15#75
When I had to send proof of identity to them, I went in branch and they said that I should get a response in a few days. Had to call em two weeks later and found out they forgot.
I didn't get a contactless card, went in branch to get one and they said I was not eligible, but didn't know why or what to do to be eligible, best they could suggest was to come back in 3 months.
Recieved multiple warnings from them saying that if I don't go paperless I'll lose my 5% interest rate, even though I signed up to paperless immediately and it says so on my account.
Couldn't set up a standing order as the system was down repeatedly.
Even though they asked me for a username/password when signing up for the account, I wasn't apparently signed up online. I had to give them another username/password when signing up online and had to wait a few more days for the correct numbers and things to come through. I have no idea what the first username/password combo was used for.
A few little things, few relatively major, but they all add up to being me not being happy with them. I think I just got really unlucky.
ihaveaquestion
11 Oct 15#76
When it says "Pay in at least £500 into your new account within 28 days of the switch completing and register a minimum of 2 active Direct Debits" I assume that means I don't have to transfer across any Direct Debits, just set them up after? So switching a simple donor account would be fine?
ihaveaquestion to ihaveaquestion
11 Oct 15#80
Anyone?? I just want to make sure I do things in the right order :smiley:
Smuggling Pnuts
11 Oct 15#77
Thanks
fishmaster
11 Oct 15#78
It's about the best you'll do for next to nothing, in the last year I've made 15% on investments, so I'm fairly happy. Certainly no Warren Buffet, but you'll almost never see 15% return on invested money in a bank.
Forgottenshopper
11 Oct 15#79
Thanks..
ceunant5342
11 Oct 15#81
hot op, cheers pal!
timp123
11 Oct 15#82
As it says "register" and not "transfer" i'm sure it's fine to set them up afterwards.
senor_eggnogs
11 Oct 15#83
Is it possible to switch from halifax to this? They are both under the same parent company but are registered differently with FCA
mcormack to senor_eggnogs
11 Oct 15#109
Yes it is.
foggy
11 Oct 15#84
Yep that's fine. I set up the DD's after the account opened.
Thanks for confirming that it's fine to set up the direct debits after :smiley:
chezvegas85
11 Oct 15#87
Notice you said petrol at £19.99. Transaction limit for contactless is £30 now though, unsure whether you thought it was still £20 or not
Babbler
11 Oct 15#88
How much do they charge for going into overdraft?
jennagough
11 Oct 15#89
do your exsisiting direct debits you take over on your old account count? or do you need to add 2 new direct debits im confused
keshfu to jennagough
11 Oct 15#103
Would also like this clarified. Never switched before and all seems too good to be true?
Grancanaria080816
11 Oct 15#90
I'm with Norwich and Peterborough Building Society, they are not part of the switching service. How do I get the £125 for switching? Any ideas anyone please
mcormack to Grancanaria080816
11 Oct 151#110
You could try Busking.
jukes21
11 Oct 15#91
can you do this for a joint account?
mancrunch to jukes21
11 Oct 15#95
How to get £125 for switching
To qualify for the switching offer and receive the £125 payment you must:
- Switch to TSB using the Current Account Switch Service by 23 November 2015
- Transfer all active credits and debits from your old account and close it
- Credit at least £500 to your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits
You can only benefit from this offer once You cannot switch your joint account to TSB under this offer
The offer is not available to employees of TSB Bank plc
You are not eligible for this offer if you have previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service
Jawz
11 Oct 15#93
Not all contactless payments have been updated to the £30 limit.
Went into Wilkinson today and they accepted over £20, but went Taybarns for food and wouldn't accept £22 because they hadn't yet been upgraded.
truegamer
11 Oct 151#94
Why would people not just go to Halifax? You get the bonus plus the £5 a month, you can also move your money into another account that pays interest like an ISA etc...
jazlabs to truegamer
12 Oct 15#126
Because £5 a month is less than the (5%) interest you'd earn on a £2,000 balance with this account. If you can't maintain a £2,000 balance, then sure Halifax is going to better (assuming the switching bonus is the same that is).
dantoe12
11 Oct 15#97
good timing. need to switch from santander with the upcoming changes to the 123 account
dantoe12
11 Oct 15#98
any thoughts around closing the santander account?
mcormack to dantoe12
11 Oct 151#111
If you are Spanish a feeling of treachery may present itself.
adrian2000
11 Oct 15#99
Seems good.
Ashan85
11 Oct 15#100
if I only have one or soon none direct debits I won't qualify, is that correct?
smulx
11 Oct 15#101
Anyone know what kind of credit rating you need for this? Do they increase the requirements because of all the benefits. I wouldn't want an overdraft or anything, but something they're still picky.
mcormack to smulx
11 Oct 151#107
preferably no County Court Judgements!
DarkBat1
11 Oct 15#102
No it isn't when you take into account inflation. People with your mindset is why they get away with it.
Rack up 10% interest rates and savers... when is the timer going to hit 0... come on
karlie88
11 Oct 151#104
Just stating the facts.
Inflation rates for the past 2 years have not gone above +2%. In fact, for the past 8 months or so, the inflation rate has been around 0%.
So any bank offering 3, 4, 5 or 6% interest should not be sniffed at.
sofiasar
11 Oct 15#105
can you switch from a savings account???
i currently dont have Direct debit,but can standing order be considered?
mcormack to sofiasar
11 Oct 15#106
No
mcormack
11 Oct 15#108
They switch over automatically.
slo_moshun
11 Oct 15#112
Pooh. Just completed Halifax switch for £125 then £5 pm if in debit. Could I be cheeky and do this before the end date??
senor_eggnogs to slo_moshun
11 Oct 151#114
I remember reading somewhere in terms and conditions for halifax that you need to be with bank for 6 months or the reward amount could be re debited. Best thing would be to confirm with the bank.
I switched back when halifax were offering 'only' £100 and have been with them for over a year. I will definitely be going for this offer.
Brun
11 Oct 15#113
Anybody know if I could switch as a Lloyds customer? Obviously they were Lloyds TSB so would i be regarded as an existing customer? Anyone tried?
Thanks in advance
marineville to Brun
11 Oct 15#117
lloydstsb are now just lloyds... tsb was stripped out from them for that purpose, surely? but if you're unsure, a quick call to tsb will give you al the answers you need.
lisah31 to Brun
11 Oct 15#118
I'm a Lloyds customer (previously LloydsTSB) and have applied today switching one of my Lloyds accounts. The new account has opened fine.
I didn't see anything in the T&Cs saying anything about Lloyds customers not eligible for cashback (but there was a lot to read and I just scanned quickly through most of it). Whether or not it pays out only time will tell.
RobDay
11 Oct 15#115
Hi all,
First off thanks to the OP for the HUK deal
How does one go about changing their current DD from a current bank to a new one?
Rob
LoRdPlOps111 to RobDay
11 Oct 15#116
Use the switch service it takes care of it for you.
ether707
11 Oct 15#119
I switched to halifax banking for £100 last year. Would it be wise to switch to this bank ?
karoliskatauskas7
11 Oct 15#120
where is the link to compare site?
PinkyPonk
11 Oct 15#121
hi, we have 2 current accounts but both are joint and in T&C of this offer: ''You cannot switch your joint account to TSB under this offer'' , does anyone know if i could open it as an individual account and switch 2 direct debits from our joint account?
BroadbandBilly
12 Oct 15#122
No risk to your capital? You're clearly not aware of the bank bail-in legislation (passed on the QT) or the BRRD (Google it - & before anyone yells "conspiracy theory" it's on the Bank of England website).
hukduserr
12 Oct 15#123
can i have savings account with more than two banks?
currently, i am only with hsbc. can i transfer 2000 quids to tsb (for the above mentioned benefits) and then follow up on all the instructions? i would like to keep my hsbc accounts too.
leeparsons to hukduserr
12 Oct 15#160
There is no limt
he6rt6gr6m
12 Oct 15#124
I'm with Natwest and have a £500 overdraft, currently £400 into it.
Would that carry over too, or would I have to clear that first?
There is also a contact no if you have a specific question
'Phone us at any time day or night - call 0345 975 8758.'
Hope this helps
karlie88
12 Oct 15#127
The Financial Services Compensation Scheme protects you up to £85,000 (soon to be £75k).
hahauk
12 Oct 15#128
Hi, I have a TSB current account already - could sign up for a new one and switch over that one?
if not could I switch over a savings account from another bank?
stubbadub
12 Oct 15#129
I signed up for First Directs £100 at the start of the year. They offer £100 if you want to leave. Could i take up their offer and still get the bonus from signing up on this account? Are there any problems with changing accounts too often?
mail28 to stubbadub
12 Oct 15#138
I'd never want to leave first direct. Best bank by far. Use a separate 'bills' account for the switching. I've switched twice now to get incentives. This should be the third. Was tempted to switch to Yorkshire bank but you can't do that online so couldn't be bothered.
Smuggling Pnuts
12 Oct 15#130
Offer not valid for joint accounts...shame
BroadbandBilly
12 Oct 15#131
In theory, yes: in reality, no. The FSCS is woefully underfunded. Besides, they're very clever with how this works. The FSCS only pays-out in the event that a bank goes bust, but they bail-in the bank with depositors cash BEFORE this happens in an effort to avoid it going bust. I can see how this is advantageous to the banks, & even to our own government, but fail to see how that would benefit depositors who have their life savings confiscated. Please read the article & spread the word. The public are being duped.
rocky01
12 Oct 15#132
Sorry, Didn't understand about 2nd account. What do you mean when you said
"80.00 interest in another 2000" what can this second be ? You mean another current account on the same name.
adamck
12 Oct 15#133
Signed up!
Good timing too, just as Santander has decided to increase charges to £5 from £2 making the cashback crap!
Thanks OP!
marineville
12 Oct 151#134
yes... you can open up two tsb accounts but i don't think it's possible to get two separate joining fees... you would have to open the second account after the first one had been opened (and i'm not sure how long one would have to wait to be allowed to do that).
ant1g
12 Oct 15#135
Just to check, you have to open a Classic Plus account via the TSB website by going through money super market? There isn't an additional switching service you have to go through?
Thanks
auran666
12 Oct 15#136
Waiting...waiting...I applied and am still waiting to see if I'm eligible. Anyone have any idea how long it takes for confirmation /declined email?
mail28
12 Oct 15#137
I applied and it said there has been a technical error.
Tried re-applying and it says I have already applied.
No emails. Nothing. Think I'll stick with existing bank if TSB really are this ****!
signed up - clicked on the switching account form - but it didn't like the postcode - there was no where to enter a postcode. So logged in and using a link once I had logged in - hope it works...
mail28 to abulkasam
12 Oct 15#142
How long did it take from when you applied to hear anything back from them?
reviewone
12 Oct 15#141
Very painful to deal with though. I had so much trouble with them, it wasn't really worth the agro' . It could be just me so you might be lucky.
mrT786
12 Oct 15#143
just set up to a charity donation on DD of your choice for a quid or more to meet the DD requirements
abulkasam
12 Oct 15#144
online only so far - a few minutes but not heard anything back.
b3ats
12 Oct 15#145
If I wasn't with FirstDirect I'd probably do this in a heartbeat. FirstDirect are too good to leave.
BroadbandBilly to b3ats
12 Oct 15#149
Wot 'e sed.
First Direct are the dog's danglies.
DragonQ
12 Oct 15#146
Not sure if it's worth me going for this. I already have 2 of these accounts and now you can only have 1 (plus 1 joint account). So I'd have to ditch both existing accounts, then create a new account and switch. I'd (probably) get the £125 but I'd also lose half of my 5% interest cap.
bigcheez2k5
12 Oct 15#147
I used the link above and have done the switch agreement. Is there anyway of knowing if I did it all correctly and that I will receive the cashback?
liamhart96
12 Oct 15#148
Is this a credit or debit card?
pikey321
12 Oct 15#150
Be careful - I switched to this account and received the incentive money then it was taken back as I 'didn't fulfil the criteria',
Please read the terms and conditions carefully.
allikerr002
12 Oct 15#151
I've just signed up for this but wasn't sure about how the overdraft works, couldn't see anything online.
I've moved to First Direct and then to Clydesdale within the past year and seemed straightforward regarding od, so hopefully I'll be able to get £500 sorted with this account and claim my £125 no hassle. Fingers crossed!
autolycus
12 Oct 15#152
Thanks for the info - just opened the regular saver. Shame TSB never mentioned it to me.
redbullmaster
12 Oct 15#153
Filled in the form last night, how long before my account is active? only received "we're processing your application" email.
allikerr002
12 Oct 15#154
My account was active instantly. They gave me sort code and account number and I set up internet banking password. They post out an activation code for that. Need to set up DD switching process but will do that tonight skived enough in work setting up the account!
pikey321
12 Oct 15#155
Be careful - I switched to this account and received the incentive money then it was taken back as I 'didn't fulfil the criteria',
Please read the terms and conditions carefully.
timp123 to pikey321
12 Oct 15#158
So where did you go wrong?
Martinwmg
12 Oct 15#156
Can I switch in branch or it is just online offer?
senor_eggnogs to Martinwmg
12 Oct 15#157
Surely we can take this offer to a branch and switch there. has anyone done this?
krism88
12 Oct 15#161
There is only link to account opening form and according to T&C you only need to open the current account via link. So i assume that switch can be made via TSB website or im wrong?
goldy12
12 Oct 15#162
This special deal is in conjunction with Money Superamarket.com, so you have to apply via the special moneysupermarket.com link in order to qualify for the £125. If you apply via TSB's web site direct, you will not get the £125 incentive.
krism88
12 Oct 15#163
Yes its about account opening: "This offer is available if you open a new TSB Classic Plus Account through MoneySupermarket or Money Saving Expert" but nothing about switching. Im curious because i just opened the account via link but i had to close my webbrowser before switching and it says that the deadline for switching is 23/10 so i think once you opened account via this link you can do the switch using TSB website, becuse the there is no separete link to switch on this Money supermakret webiste.
mixmixi
12 Oct 15#165
"To qualify for £125, you must first complete the account application and then the separate online switching form" - you open the account first then switch later on as it says..
krism88 to mixmixi
12 Oct 15#166
Exactly so basically you dont need to switch using this money supermarket form just open account through their link and then switch on their website.
Jamplayya
12 Oct 15#167
Nothing in the T&Cs saying you need to use the Money Super Market link.
Eligibility
To qualify for the offer you must:
a. Open a new Classic Plus account by 2 November 2015 and switch to TSB using the Current Account Switch Service by the 23 November 2015
b. Transfer all active credits and debits from your old account and close it
c. Pay at least £500 into your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits
Account opening is subject to our assessment of your circumstances. You must be 18 or over and a UK resident to apply.
You can only benefit from this offer once.
The Classic Plus account is restricted to one account in your sole name and another Plus account in joint names.
You cannot switch your joint account to TSB under this offer.
This offer is not available to employees of TSB Bank plc.
You are not eligible for this offer if you have previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service.
Payment
Payment will be made to your new TSB bank account 28 days after the switch has completed and you have complied with the conditions of the offer.
goldy12
12 Oct 15#168
But nothing on the TSB web site says you are entitled to the £125, it only says that on the money supermarket link, try applying elsewhere if you like but you risk forfeiting £125 , so is it worth it?
dave_m8
12 Oct 15#169
Sorry if this has already been mentioned but regarding the T&Cs for the £125....
for b) I'm assuming the old account is closed when you go through the switching service, correct?
and for c) again I'm assuming if I already have several direct debits on my account at the moment, when I switch those being transferred count towards the 2 needed to be registered? Also is there any obligation for the £500 paid in to stay in the account for any period of time, or can it simply include my wages being paid in and then taken out via bills etc?
ihaveaquestion
12 Oct 15#170
Just to clarify, the Money Super Market link you mention is on the TSB site. I'm just saying in case people are unsure if they've signed up to the right thing. As long as it mentions the £125 on the page you land on (by clicking on the offer link here) I think you're good to go.
Jcorrigan
12 Oct 15#171
Switched myself thanks op.
rvcshart
12 Oct 15#172
Ive never had contactless fail and use iy a hell of a lot. What's this pin reset thing youre in about? Also its 30£ noyt 20£ now. The signs in Morrisons still say 20£ but I paid 24£ on one today there.
Nanajane
12 Oct 15#173
Unfortunately already have tsb... but tsb told me you have to spend at least £100 a month contactless to get the 5% ... eg its is not 5% on whatever spend on contactless as I originally thought. Can anyone confirm this as I seem to be getting mixed messages
thanks Jane
marineville to Nanajane
13 Oct 15#174
well, and trying not to be an @rse but, it took me five seconds to google 'tsb' and 'contactless' to get this:
How do I get 5% cashback on my contactless purchases?
From 1 September, if you have a Classic Plus account with a contactless debit card and are registered for Internet Banking you'll earn 5% cashback on your first £100 of contactless payments every month.
We'll pay you your cashback every month from October 2015 until January 2017. A contactless Visa debit card is subject to status.
if only you had the internet you could have found this out for yourse... oh!
Ashe
13 Oct 15#175
Just to be clear - you cannot now open a second account (except for a joint account).
ihaveaquestion
13 Oct 15#176
When did they change that? I would definitely open a second account if was an option, though your comment sounds like it no longer is :disappointed:
chezvegas85
13 Oct 15#177
I didnt realise everybody had to manually update, odd they havent done it yet as its cheaper for them to accept contactless
samk06
13 Oct 15#178
cant click on the apply for account button in the given link.. is anybody else having the same issue?
Nanajane
13 Oct 15#179
1. You don't seem to be trying very hard not to be an @rse but I will take your word for it.
2. ' 5% cashback on your first £100 of contactless payments every month.' ... yes but I didn't realise (and neither did several people I have spoken to) that if you don't spend £100 you get nothing. We thought we would not get anything back over £100 (fair enough correct) but not that if you did not spend the full £100 you would also not get anything.
3. Anyway, thanks for your help
Jane
hukduserr
13 Oct 15#180
can i apply for this in tsb banks? or do i have to do it online?
tsb989
13 Oct 15#181
I currently only have one bank account and that is with Barclays. I also have a mortgage with Barclays. I think it would be a pain to move banks.
Could someone write some simple steps that I can do to prepare to 'switch' to this account. For example, could I setup a brand new account with Nationwide, add in £1.00 and then do this switch to TSB and take advantage of the deal (if it's still available at this time). For the people who do take advantage of these banking schemes, do you have multiple random bank accounts setup in advance.
delboyd to tsb989
13 Oct 15#183
If you want to slaughter your credit rating, go ahead.
But yeah, best to have two current accounts. One permanent/Semi permanent, and the other to take advantage of these deals.
I've found that a switch every 8 months has only a tiny effect on credit rating. Any quicker than that and it seems to give you quite a knock.
mcormack to tsb989
14 Oct 15#196
Yes, you can have as many bank a/c as you wish.
marineville
13 Oct 15#182
no idea why you keep suggesting that you have to spend 100.00 before you get cashback? if you can point to the terms and conditions that make that point then i'd happy to be proved wrong. but, as far as i'm concerned, it's 5% cashback on the first 100.00 of contactless payments or apple pay transactions each month. i can find absolutely no reference to a minimum spend of 100.00 so i'd put it down to misinterpretation or gossip on this site. hence, suggesting you search for it yourself. if you really want to hear it from the horse: tsb - 03459758758 (i even phoned it to make sure it works... YOU'RE WELCOME!)
Hi I don't want to get into a slanging match or take up time and space on this thread. I am just reporting what I was told when I went into the local branch last week to query interest payments I was expecting on my account that had not been paid. In light of your comments I will check again with the bank.
delboyd
13 Oct 15#187
No you're misunderstanding me.
Opening an account does not affect your rating, nor does possessing accounts.
HOWEVER, switching an account after only having it for a few months most definitely does affect you. It's seen as 'shifty' and can knock your rating down a fair bit if you do it too many times.
rvcshart
13 Oct 151#188
They dont. Its there stupid till software.
The hardware, mainly Ingenico 330/350 along with there merchant accounts work natively with the increase. Just fools who make stupid epos software.
cannibalwombat
13 Oct 151#189
Opened an account Sunday and just went to do the identity check thing. Happened to ask whether I could use the switch service in branch and mentioned the incentive. Staff asked if I had opened the account via MSE or MSM - first I'd heard about that! Wasn't on the TSB web page, even in the bullet points. Now noticed it's buried in the T&Cs! Bloody typical!
The guy called up customer services for me and they offered the following options:
1) cancel the account and reopen via MSM or MSE, though such a quick cancellation/reopening could get the fraud team involved as it may be seen as suspicious activity (the guy said another customer earlier today had exactly that problem)
2) open the account, switch and wait a month and if the bonus isn't paid to call customer service again and be like "where's ma munnay?!" and they make the payment manually by treating it as a complaint/gesture of good will.
3) forgo the bonus and deal with it
I haven't decided which to do yet. Least risk to the bonus being paid seems to be option 1, provided the cancellation turnaround isn't too long, though this does risk fraud alert and another credit check on my record.
I imagine there are lots of people in this position and they certainly did NOT make it clear that one has to open the account via a third party.
Knew it was too good to be true. And don't get me started on the big question mark around cashback on contactless payments totalling less than £100 a month!
ihaveaquestion to cannibalwombat
14 Oct 15#193
If you applied via the link on this page that stated the £125 on it, I think you're fine.
Ashe
13 Oct 15#190
I'm pretty sure it was the same time the £125 switching offer first opened. I helped my parents with opening accounts one week, then this offer came out. I was quite annoyed that had missed the £125, but then realised if had opened the week after, wouldn't have been able to open a second, possibly better long-term.
CheapLife
13 Oct 15#191
you can open a second account but you're not supposed to. I did it in June and didn't get the bonus payment because I breached the ts and cs by having more than one. when I opened my first acct in 2014 you were allowed 4 accts but they must have changed it to 1 sole 1 joint
Anonknowmouse
13 Oct 15#192
Honestly this is the best new customer deal I've seen. I'm tempted, and I think people should consider it.
cannibalwombat
14 Oct 15#194
"This offer is available if you open a new TSB Classic Plus Account through MoneySupermarket or Money Saving Expert"
I didn't do that. What makes you say I'll be fine?
ihaveaquestion
14 Oct 15#195
I'm not 100% sure on this myself.. but if you click the offer link in this thread, it is the MSM offer but it's hosted on the tsb.co.uk domain, so i don't believe you have to go via the MSM site itself as such is what I'm saying. If you went direct to TSB.co.uk though and actually manually clciked from the homepage to the current account one with no mention of any cashback offers on the page, then no I doubt you'll get the cashback I'm afraid.
Longy
14 Oct 15#197
Anyone know how to tell if it has "tracked" for the £125 cashback - i.e. did anyone get an email with this mentioned at any point having opened the account? I have emails titled "Your current account application was successful" and "Your registration has been successful" in relation to the internet banking but neither mention the £125.
For anyone else that has just applied, it took three or four hours for any emails to come through after completing the application.
ihaveaquestion to Longy
14 Oct 15#202
I didn't receive anything specifically related to cashback or from MSM.. I did when I applied to Nationwide previously though. I assume(d) that nothing has been sent out.
leeparsons
14 Oct 15#198
If you already have the TSB current account, will you get 5% cashback on spend on contactless payments, and tier 5% interest on savings?
jsty3105
14 Oct 15#199
question - have any of you with non-british naming orders on your passport/id managed to get this online - and how?
My passport name order is [First name] [Last name] [Other first name] which complicates things like this
DonkeyKonk
14 Oct 15#200
My application got turned down, anyone else ?
Surprised really I am on good money, (£40G+) nineteen years in my job, no mortgage etc. My property is shred ownership, I own half of it and rent other, I wonder if that would go against me (?).
Shame as was looking for a decent savings account.
ihaveaquestion to DonkeyKonk
14 Oct 15#201
Do you know what your credit score is? Maybe you have oponed too many accounts iin the past? If not, then possibly the shared ownership point? From the info you've given here it seems silly that they turned you down tbh.
DonkeyKonk
14 Oct 15#203
I should have a very good score, as far as I know, thanks for feedback.
ess
14 Oct 15#204
I remember the last time I've used switching service, I had an option to not close the main account and only switch the active direct debits, main income and so on but the main account could be active.
But, as I've checked the TSB's T&C, it states the original account should be closed.
Does any one tried to get the bonus by apply for switching without closing the original account ?
Thanks in advance
gaijintendo to ess
17 Oct 151#218
I am in the same boat here. I wouldn't mind switching, but I don't know what happens to my savings accounts if I close my current account. So that's me out of the game.
jsty3105
14 Oct 15#205
Different banks use different providers though. Scores aren't always identical across providers
dougieskins
14 Oct 15#206
Reading the T&C's it says
"- Transfer all active credits and debits from your old account and close it "
So do you have to actually close your other current account to qualify..?
DarkBat1
14 Oct 15#207
Reports that inflation hasn't gone above 2%, however take a recent bill into account. Sky IIRC line rental has gone from £15 to £17.... calculate the percentage increase on that and tell me that we haven't gone above 2%.
karlie88
14 Oct 15#208
Are you really comparing inflation rates with Sky bills? :confused:
You need to be talking about a tank of fuel costing £10 less than it did 2 years ago, a loaf of bread being cheaper, price of a pint of milk etc.
These are the type of things which drive inflation rates up/down.
sotomonkey
15 Oct 15#209
you can open two accounts as one person?
marineville
15 Oct 15#210
i did, last year, though i had to wait a couple of months before opening the second account. not suggesting you can open two accounts immediately or through the cashback offer...
abulkasam
15 Oct 15#211
any easy direct debits to set up?
lambyUK to abulkasam
15 Oct 15#212
Charities.
sbenton
15 Oct 15#213
Switching in progress...Thanks!
angelking
16 Oct 15#214
Does anyone know if I can switch by TSB classic account to Classic Plus??
jezzery
16 Oct 15#215
Oops i applied through the link on this page and then applied again through money supermarket before switching over on that application after realising. Hope it still goes through. Really the link on this page should be to the money supermarket page as people may do the same.
Thats funny it is now - wasn't about an hour ago.
jezzery
16 Oct 15#216
hmm I think i first registered on the non money supermarket link now and then switched on the supermarket link. Would TSB know the status of the cash back eligibility if i phoned?
jezzery
16 Oct 15#217
ah just figured it - this link is a hukd link which is the money supermarket link. There must be some affiliation going on somewhere as the url says hotukdeals and not the money supermarket address that is on their site. If you refresh the page after this link it shows the money supermarket link. Sorry for the confusion and panic over now.
happydeals
18 Oct 15#219
Thanks OP
crgritchie
18 Oct 15#220
Thanks OP - heat added. I have opened an account as I have been looking for a new current account since RBS informed me they'd be jacking up my monthly charge by 35%.
dk2401
18 Oct 15#221
Hello Jane,
Just to say it's definitely 5% off on up to £100 of contactless purchases each month. So in other words up to a fiver a month.
The person you spoke to must have misunderstood or got it wrong. :smiley:
Log in and theres a form on right hand side (that's what I did)
stryker2001
20 Oct 151#225
Hi, ive recently switched and as of today my LLoyds account has closed . My TSB account has been open since the day i applied. Ive been sent a debit card. All the direct debits were done last week. Ive just got to wait 28 days for the £125 to be credited. If it doesnt ive got a phone number to call. Very smooth no hassle. Just got to wait now. Ill be back to tell you if ive got my £125 or not
paulhea to stryker2001
21 Oct 15#228
What is the number you have?
kyy1
20 Oct 15#226
I am thinking of switching to tsb from Halifax, which I have only 2 direct debit on it, 1 for a £1 donation each month, and 1 for the Halifax credit card (but hardly ever used). Also have money goes in each month.
does anyone know if this is good enough for a switch?
j2theg
21 Oct 15#227
So.. contrary to the OP's instructions, once the TSB account is set up you switch via the standard TSB website link?
There appears to be no moneysupermarket link to do this.
j2theg to j2theg
22 Oct 15#231
Anyone? I've skimmed the whole thread and can find no answer to this.
stryker2001
21 Oct 151#229
If you experience any issues in receiving your incentive payment or feel that you have satisfied all conditions yet not been paid, please call us on (Lines are open 8am to 8pm Mon-Fri, 8am-4pm at weekends).
0345 835 3863
sofiasar
21 Oct 15#230
Iv opened one today, too confused about the 2 direct debit, should I set them in the old bank or on tsb, iv been told different on both times I called.
I applied (opened) a new tsb account through this link, and switched down the line. HTH
j2theg
22 Oct 151#233
That's the link the HUKD link takes you to. I opened a new account through it too. That bit is clear.
The OP states "The £125 incentive starts today is exclusive to Money supermarket .com, so make sure if you switch you do so via the link, and not via the TSB normal web site."
Therefore what is not clear is how you switch. I've assumed it's via the TSB website directly and done that just now. This should be clarified though.
allikerr002
22 Oct 15#234
Just been told by tsb you can't apply for an overdraft until the account has been open for 3 months, so looks like I won't be switching after all.
timp123 to allikerr002
22 Oct 15#235
I applied as part of the main application process and it was approved within 24hrs?
allikerr002
22 Oct 15#236
I must have missed that part, serves me right for rushing through the application in work :disappointed:
senor_eggnogs
23 Oct 15#237
Has anyone been paid the £125 yet or got the 5% cashback on contactless payment as per the op post?
olliemad5
23 Oct 15#238
so im a bit worried all this hassle has been done for nothing as it says you have to apply through MSM or MSE websites? is that the link provided when clicking 'get deal' or not OP? im going to transfer over the 500 tonight and then back to my main bank tomorrow . fingers crossed :neutral_face:
fishleg
23 Oct 15#239
I want to switch from halifax to tsb but i want to keep my halifax credit card, is it possible and get the £125?
How will the bank know I have or havent got a credit card with my old bank?
Its worth it for me anyway but the £125 is the main reason.
Raimonds
24 Oct 15#240
Hi. I opened the TSB Classic Plus account less than a month ago. Can I use the switch service and get the incentive? Or it is only for opening new account and switching at same time via the MSM and MSE links?
mcormack to Raimonds
24 Oct 151#241
No you cannot, and Yes it is.
mcormack
24 Oct 151#242
try the CO-OP
Raimonds
24 Oct 15#243
I see.
A bit putting off, not allowing customers with recently opened (same new Current Account Plus) to get incentive for switching to them. Will look into the Coop's offer as well.
I am currently in process of setting everything up with First Direct, little time consuming to go through all their unique security process for internet banking and mobile app, so different from any other bank. I could not bear to wait their estimated 48 hours to receive any kind of confirmation/communication about my application. Filled in application last night, and phoned their free number to find out if my application has been received and considered. The adviser helped me to set up the initial security features and info, also gave me the new account details, so I could actually go ahead and set up internet banking and mobile app access. Now, the switching process, required pay in and wait for the kind incentive to credit!
Kallisti
24 Oct 15#244
So, tried to open a TSB account - all worked fine online, gave my account transfer details, all OK.
Get a text saying, "transfer failed, call us".
Eventually have time to call them - 20 mins going through details, guy discovers old account is joint, can't continue - waste of time.
Told to go to branch to change it to joint - go in with my wife this morning. "You need an appointment to do that". Wanders off to get manager (obviously used to people telling her that's stupid and didn't need to be told)
Manager says, you need two forms of ID - hand over driving license and a credit card. Sorry - no, needs to be a really specific set of ID - can't switch.
Say, fine, I just want to close the account then - argues with me in the middle of the bank, getting quite irritable. Eventually had to say, I don't want to argue, just close the account and consider it a lucky dodge from having been a customer.
Not worth the free cash in the first year... Moving bank is easy? Bull...
timp123 to Kallisti
24 Oct 15#245
Well the terms do clearly state: "You cannot switch your joint account to TSB under this offer" and that's not even in small print. Don't get mad about the terms when you can't even be bothered to read them.
Kallisti
25 Oct 15#246
As I say, lucky dodge as far as I'm concerned. First Direct may have the worst IT systems I've come across in years but at least the people you end up having to phone over-and-over again are pleasant enough...
ihaveaquestion
26 Oct 15#247
My transfer went smoothly... and I've just set up a couple of direct debits and transfered £2000.. My debit card hasn't arrived yet though..hmmm. If it doesn't by mid week I'll give them a call.
Reecapp
26 Oct 15#248
can you explain how you get the second account for £80
fishleg
26 Oct 15#249
But can you switch and keep credit card >
Hker to fishleg
26 Oct 15#250
I think you can...not 100% sure though
marineville to fishleg
26 Oct 15#253
credit cards have nothing to do with your current account. they exist as a separate contract... the only difference is that you will need to arrnage another standing order to pay whatever monthly amount you usually pay.
mcormack to fishleg
29 Oct 15#268
Yes! you are "switching" your current account, not your credit contract.
he6rt6gr6m
26 Oct 15#251
Still wondering if you can switch an already-in-use overdraft from one bank to this?
Jcorrigan to he6rt6gr6m
26 Oct 151#252
I've switched successfully from my student overdraft account with Halifax.
draeburn78
26 Oct 15#254
Do banks give loyal customers who stay with them anything, if not I think I will leave this bank, what other banks give best switch deal?
he6rt6gr6m
27 Oct 15#255
I'd be surprised. No company really does anything for loyal customers. Especially when compared to new customer deals.
he6rt6gr6m
27 Oct 15#256
That's great, cheers. I'll give it a shot. :-D
olivermills6
27 Oct 15#257
Not on Windows Phone. It's just a link to the website basically. Dreadful.
jonathan_d
27 Oct 15#258
get an android then :wink:
Coolbeans_coolbeans
27 Oct 15#259
Does anyone know if the £250 standing order has to come from your tsb current account or can it be from another bank account?
olivermills6
28 Oct 151#260
To be fair, if I save £300 it might be enough to buy a second phone! :smiley:
Winspiration
28 Oct 15#261
Hi, can someone help? I've just signed up, got accepted, I've received my account number and sort code and I chose my local branch; I printed the page off so that I had all of the details. After printing the page though, the screen went funny and all of the page was jumbled up. I couldn't scroll down or do anything. Stupid work PC...
Did I need to do anything else after that to qualify for this offer? I've received an e-mail saying what ID to bring in, but I'm just worried there was something else I needed to do, and there's no way of going back on to check without signing up again...
mrT786
28 Oct 15#262
Does anyone know if you have to stay with any of these banks for a certain amount of time after getting the bonus payment? or any claws to paying it back if you switch again too soon or anything like that. Thanks
stryker2001
29 Oct 15#263
if you know any banks and current accounts that pay more than 5% interest mrT786 please share it with us
fishleg
29 Oct 15#264
Says 2 active direct debits that just mean they need to showing on the account? or do they have to take money out within 28 days?
jennagough
29 Oct 15#265
can you transfer 500 in a month and take it back out? i want to change to this but im unsure and if you take your existing direct debits does that count as setting up 2 new direct debits please can someone help me pleasseee
fishleg to jennagough
29 Oct 15#266
Id say that will count as 2 dd but im unsure aswell. Ive just set up online banking and have 2 dd's showing on the account so i guess thats all thats needed.
jennagough
29 Oct 15#267
thank you @ fishleg .
im just unsure about it all lol
adm9147
31 Oct 15#269
I have applied for the account today but I need to go into branch with my ID, I won't be able to do this until after 2nd of November now. Will I still get the switching bonus? As I applied before the 2nd of November, but I didn't switch before this date.
mcormack to adm9147
31 Oct 15#270
??????
mcormack
31 Oct 15#271
ID ??
ess
1 Nov 15#272
I've applied for this account few minutes ago and it went through successfully for a credit check, but, regretfully on the Register for Internet Banking & Your branch page, although, I've chosen my nearest branch and filled all the required internet banking username and so on, the following error would appear,
There is a problem with some of the information you have submitted.
Please enter a valid value.
No idea what its on about as I have selected a branch, clicked continue and it keeps bouncing me back.
I've googled it and seems some people had the same issue which is a IT technical issue and they requset to re-apply again, which may have an impact on your credit score as it needs to go through a credit check again.
So, may I know whether does anyone else had a similar issue and how he/she resolved it ?
Thanks in advance
HereKittyKitty
1 Nov 15#273
How far into your overdraft were you (if you don't mind me asking)? I'd like to switch but I don't wanna lose the £1800 overdraft I get with Lloyds. If I withdrew my entire overdraft, would they be forced to give me a matching overdraft to cover the negative balance?
truegamer
1 Nov 15#274
I can't see me spending £100 every month on the contactless thing, are there any tricks?
Fellows to truegamer
1 Nov 15#275
I'd like to know this as well. Also is there a limit or terms on how many current accounts you can hold?
user777 to truegamer
2 Nov 15#277
TfL PAYG (if you do not have travelcard)
Boots
Lidl
Morrisons
Tesco
Poundland (£5 min spend required)
Wetherspoon (still £20 limit in my local)
Waitrose
That's where I used my card last month.
erykryzko
2 Nov 15#276
One of the requirements states that you should register 2 direct debits to get the £125 bonus. Can they be 2 direct debits you already have on your old current account and therefore which will be transferred when you switch or do they want you to set up two new direct debits ?
ferrarian
2 Nov 15#278
So this offer is ending today, you must open the bank account by today, then use the current account switching service by 23/11. Just put in my application online and it is all done in 10 minutes, very efficient.
thomasrykala
3 Nov 15#279
So I applied for the account on Sunday, but on Monday afternoon I've received an email asking me to bring copy of my ID and proof address to a branch "to complete opening of the account". The T&C's of the deal state that to qualify I need to open account by 2nd, so if I bother going to the bank today, will my application on Sunday matter or is it too late already?
Weird that I have to bring the documents as well to be honest, as I am homeowner living under my address for three years and have no bad credit history. Hope that's nothing to do with me being foreign, although I have lived in the UK for ten years now. Maybe it's the fact that I applied for the offered overdraft too, hopefully not. I never use overdraft, but thought, why not.
cumbreras to thomasrykala
3 Nov 15#280
What did you do? I've applied for it a couple of days ago but didn't went to get my account verified but I think it counts as open (partially) if you do it online just confirmation will make it go through.
Lucas_0224
3 Nov 15#281
Similar here, I applied a couple of weeks ago, managed to take ID in over the weekend and had e-mail confirming application successful and able to log in etc now.
How long does it take for the £125 incentive to hit the account? I've set up the switch for next week, which will cover the minimum pay in and 2 x direct debits...
fishleg
7 Nov 151#282
If people are after an easy dd national lottery easy to setup.
fishleg
7 Nov 15#283
I wasnt asked to bring in ID btw is that normal?
Zygus
10 Nov 15#284
Hi. How long you wait to get £125 incentive for switch acc?
Also who's pay for switch TSB or moneysupermarket com??
user777 to Zygus
10 Nov 15#285
account opened more than 3 weeks ago, switch completed more than 2 weeks ago, fully funded, 2 DD established (1 already paid), still no incentive money - wouldn't worry till the end of the year, then might chase
mcormack
11 Nov 15#286
How long after switch date does the £125 incentive hit a/c ?
stryker2001
12 Nov 151#287
Minimum of 28 days from opening the account til you get the incentive
mcormack to stryker2001
15 Nov 15#288
THX
stryker2001
17 Nov 154#289
Today, exactly 28 days after opening my account ive just received £125 credit. Thanks TSB and thanks to everyone who posted the deal
olliemad5
17 Nov 15#290
already registered all this jibber jabber. my 28th day is the 30th of this month so hope I get ma monies too! already have 2 DD's registered so hoping thats enough rather than registering 2 new ones
nightshot
18 Nov 15#291
Just checked and I got the £125 today :smiley:
pedro12
18 Nov 15#292
got my £125 today, exactly 28 days since switch date. :smile:
geforce to pedro12
18 Nov 15#293
is that 28 days since you opened the account and requested the switch or 28 days since the switch completed? Thanks :smiley:
pedro12
18 Nov 151#294
28 days since the day the switch completed.
user777
21 Nov 151#295
£125 in, exactly 28 days after switching
olliemad5
22 Nov 15#296
got my monies!!!!!!!!!!!!!! yeyyyyyyyyyyyyyyyyyyyyyyyyy :stuck_out_tongue:
BobMass
26 Nov 15#297
Exactly 28 days from switch date to £125 payout. Wonder when I can expect my first contactless cashback to pay??
clashpie
13 Dec 15#298
I got mine, but my Mrs hasn't as of yet???
Odd!
CheapLife
14 Dec 15#299
had to go to the ombudsman for mine, will see how it goes
jonnyfaz
21 Dec 151#300
Just had my first contactless payment bonus. Grand total of £4.87 went in today.
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Opening post
The £125 incentive starts today is exclusive to Money supermarket .com, so make sure if you switch you do so via the link, and not via the TSB normal web site.
Get up to £185 on the current account that gives you plusness
£125 for switching - open a Classic Plus account by
2 November 2015 and switch to us using the Current Account Switch Service before 23 November 2015.
Pay in at least £500 into your new account within
28 days of the switch completing and register a minimum of 2 active Direct Debits.
Plus get up to £60 in the first year - If you have a contactless debit card (subject to status and eligibility) and you are registered for internet banking, get 5% cashback on your first £100 of contactless payments every month - ends Dec 2016.
What you get
£125 when you open a Plus account and then switch to us
5% AER/4.89% gross variable interest paid monthly on balances up to £2,000
To earn interest (which is paid monthly) just pay in a minimum of £500 a month and register for Internet Banking, Paperless Statements and Paperless Correspondence. No interest is paid on your balance over £2,000
No monthly fees
TSB Visa debit card – contactless debit card subject to status and eligibility
5% cashback on your first £100 of contactless payments every month (ends Dec 2016)
Optional fee free £25 planned overdraft available (subject to application and approval)
Access your account online, via mobile banking, telephone banking or in branch
Once you have a TSB current account, get a 5% AER/gross (fixed) Monthly Saver for 12 months. Simply setup a standing order and save from £25 to £250 a month - at the end of your term your account will convert to a variable rate Easy Saver Account, currently paying 0.75% gross/AER variable including a fixed bonus of 0.55% for the first 12 months
Note: You cannot replace money withdrawn. Instant access
You must be 18 or over and a UK resident to apply. The Classic Plus account is restricted to one account in your sole name, and another Plus account in joint names
Top comments
125.00 joining fee
80.00 interest (after basic tax) on 2000.00
80.00 interest (after basic tax) on another 2000.00 (you can open a second account but assuming you can't transfer two accounts over)
64.60ish on regular saving of 250.00 for 12 months (after basic tax)
so, just short of 350.00 in the first year PLUS whatever you can make on the 5% using the contactless payment card (although it's a bit patchy as most petrol stations won't take it, morrisons do at both, as do morrisons and tesco have an icon on their tills but still don't) and it's prone to not working without a normal pin number payment to reset, which is a royal pain when you're trying to pay for petrol at 19.99 and then it refuses to go contactless so you then have to pay with your santander card to get the 3% off from them instead).
so damned well worth it.
incidentally, mods... where would i set up a discussion to list which retailers use contactless payments?
All comments (301)
125.00 joining fee
80.00 interest (after basic tax) on 2000.00
80.00 interest (after basic tax) on another 2000.00 (you can open a second account but assuming you can't transfer two accounts over)
64.60ish on regular saving of 250.00 for 12 months (after basic tax)
so, just short of 350.00 in the first year PLUS whatever you can make on the 5% using the contactless payment card (although it's a bit patchy as most petrol stations won't take it, morrisons do at both, as do morrisons and tesco have an icon on their tills but still don't) and it's prone to not working without a normal pin number payment to reset, which is a royal pain when you're trying to pay for petrol at 19.99 and then it refuses to go contactless so you then have to pay with your santander card to get the 3% off from them instead).
so damned well worth it.
incidentally, mods... where would i set up a discussion to list which retailers use contactless payments?
It's certainly the first time that it's been posted with the £125 switch incentive.
Any idea if I can 'switch' account but not actually close my current account? Want to keep my Halifax account but want to take advantage of this TSB one ASAP!
i only know this through falling foul of such terms myself!
and standing orders are transferred, too? thanks in advance!
take it this account is only better if you have savings etc...
thanks
TSB have the 555 as mentioned by OP, while Halifax have switch incentive, ¿5 per month and if you have their credit card and spend ¿300 per month you get another ¿5 per month. And you can have 1 single and 1 joint account.
No, I don't work for TSB.
I struggle with having enough direct debits to satisfy the eligibility criteria, which can be annoying!
As much as Santander's fee hike is annoying, don't know of anywhere else to get 3% on 10k+?? so I'm not in a rush to ditch them just yet :wink:
This account requires a "switch", any decent deals out there for new accounts?? (With a view to it being used as an account to switch next year/year after/etc?)
Rant over, and if all else fails, guns usually are pretty effective way of getting them to see your point of view. so try first option :smile:
Disclaimer i am not held responsible for my mad rant! :smile:
Or in and then straight back out to another account on the same day as I do.
http://www1.firstdirect.com/1/2/banking
The mobile app is OK, identical to Lloyds if that helps.
I didn't get a contactless card, went in branch to get one and they said I was not eligible, but didn't know why or what to do to be eligible, best they could suggest was to come back in 3 months.
Recieved multiple warnings from them saying that if I don't go paperless I'll lose my 5% interest rate, even though I signed up to paperless immediately and it says so on my account.
Couldn't set up a standing order as the system was down repeatedly.
Even though they asked me for a username/password when signing up for the account, I wasn't apparently signed up online. I had to give them another username/password when signing up online and had to wait a few more days for the correct numbers and things to come through. I have no idea what the first username/password combo was used for.
A few little things, few relatively major, but they all add up to being me not being happy with them. I think I just got really unlucky.
http://www1.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_Onsite_PWS_CUR_125Switch_125BushBabySwitch_DR_Banking_Standard_CUR2343
To qualify for the switching offer and receive the £125 payment you must:
- Switch to TSB using the Current Account Switch Service by 23 November 2015
- Transfer all active credits and debits from your old account and close it
- Credit at least £500 to your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits
You can only benefit from this offer once
You cannot switch your joint account to TSB under this offer
The offer is not available to employees of TSB Bank plc
You are not eligible for this offer if you have previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service
Went into Wilkinson today and they accepted over £20, but went Taybarns for food and wouldn't accept £22 because they hadn't yet been upgraded.
Rack up 10% interest rates and savers... when is the timer going to hit 0... come on
Inflation rates for the past 2 years have not gone above +2%. In fact, for the past 8 months or so, the inflation rate has been around 0%.
So any bank offering 3, 4, 5 or 6% interest should not be sniffed at.
i currently dont have Direct debit,but can standing order be considered?
I switched back when halifax were offering 'only' £100 and have been with them for over a year. I will definitely be going for this offer.
Thanks in advance
I didn't see anything in the T&Cs saying anything about Lloyds customers not eligible for cashback (but there was a lot to read and I just scanned quickly through most of it). Whether or not it pays out only time will tell.
First off thanks to the OP for the HUK deal
How does one go about changing their current DD from a current bank to a new one?
Rob
currently, i am only with hsbc. can i transfer 2000 quids to tsb (for the above mentioned benefits) and then follow up on all the instructions? i would like to keep my hsbc accounts too.
Would that carry over too, or would I have to clear that first?
There is also a contact no if you have a specific question
'Phone us at any time day or night - call 0345 975 8758.'
Hope this helps
if not could I switch over a savings account from another bank?
"80.00 interest in another 2000" what can this second be ? You mean another current account on the same name.
Good timing too, just as Santander has decided to increase charges to £5 from £2 making the cashback crap!
Thanks OP!
Thanks
Tried re-applying and it says I have already applied.
No emails. Nothing. Think I'll stick with existing bank if TSB really are this ****!
at the top it states 2 direct debits. But at the bottom it states "c. Pay at least £500 into your new TSB account within 28 days of the switch completing and register a minimum of 3 active Direct Debits"
First Direct are the dog's danglies.
Please read the terms and conditions carefully.
I've moved to First Direct and then to Clydesdale within the past year and seemed straightforward regarding od, so hopefully I'll be able to get £500 sorted with this account and claim my £125 no hassle. Fingers crossed!
Please read the terms and conditions carefully.
Eligibility
To qualify for the offer you must:
a. Open a new Classic Plus account by 2 November 2015 and switch to TSB using the Current Account Switch Service by the 23 November 2015
b. Transfer all active credits and debits from your old account and close it
c. Pay at least £500 into your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits
Account opening is subject to our assessment of your circumstances. You must be 18 or over and a UK resident to apply.
You can only benefit from this offer once.
The Classic Plus account is restricted to one account in your sole name and another Plus account in joint names.
You cannot switch your joint account to TSB under this offer.
This offer is not available to employees of TSB Bank plc.
You are not eligible for this offer if you have previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service.
Payment
Payment will be made to your new TSB bank account 28 days after the switch has completed and you have complied with the conditions of the offer.
But nothing on the TSB web site says you are entitled to the £125, it only says that on the money supermarket link, try applying elsewhere if you like but you risk forfeiting £125 , so is it worth it?
for b) I'm assuming the old account is closed when you go through the switching service, correct?
and for c) again I'm assuming if I already have several direct debits on my account at the moment, when I switch those being transferred count towards the 2 needed to be registered? Also is there any obligation for the £500 paid in to stay in the account for any period of time, or can it simply include my wages being paid in and then taken out via bills etc?
Just to clarify, the Money Super Market link you mention is on the TSB site. I'm just saying in case people are unsure if they've signed up to the right thing. As long as it mentions the £125 on the page you land on (by clicking on the offer link here) I think you're good to go.
thanks Jane
How do I get 5% cashback on my contactless purchases?
From 1 September, if you have a Classic Plus account with a contactless debit card and are registered for Internet Banking you'll earn 5% cashback on your first £100 of contactless payments every month.
We'll pay you your cashback every month from October 2015 until January 2017. A contactless Visa debit card is subject to status.
if only you had the internet you could have found this out for yourse... oh!
2. ' 5% cashback on your first £100 of contactless payments every month.' ... yes but I didn't realise (and neither did several people I have spoken to) that if you don't spend £100 you get nothing. We thought we would not get anything back over £100 (fair enough correct) but not that if you did not spend the full £100 you would also not get anything.
3. Anyway, thanks for your help
Jane
Could someone write some simple steps that I can do to prepare to 'switch' to this account. For example, could I setup a brand new account with Nationwide, add in £1.00 and then do this switch to TSB and take advantage of the deal (if it's still available at this time). For the people who do take advantage of these banking schemes, do you have multiple random bank accounts setup in advance.
But yeah, best to have two current accounts. One permanent/Semi permanent, and the other to take advantage of these deals.
I've found that a switch every 8 months has only a tiny effect on credit rating. Any quicker than that and it seems to give you quite a knock.
Opening an account does not affect your rating, nor does possessing accounts.
HOWEVER, switching an account after only having it for a few months most definitely does affect you. It's seen as 'shifty' and can knock your rating down a fair bit if you do it too many times.
The hardware, mainly Ingenico 330/350 along with there merchant accounts work natively with the increase. Just fools who make stupid epos software.
The guy called up customer services for me and they offered the following options:
1) cancel the account and reopen via MSM or MSE, though such a quick cancellation/reopening could get the fraud team involved as it may be seen as suspicious activity (the guy said another customer earlier today had exactly that problem)
2) open the account, switch and wait a month and if the bonus isn't paid to call customer service again and be like "where's ma munnay?!" and they make the payment manually by treating it as a complaint/gesture of good will.
3) forgo the bonus and deal with it
I haven't decided which to do yet. Least risk to the bonus being paid seems to be option 1, provided the cancellation turnaround isn't too long, though this does risk fraud alert and another credit check on my record.
I imagine there are lots of people in this position and they certainly did NOT make it clear that one has to open the account via a third party.
Knew it was too good to be true. And don't get me started on the big question mark around cashback on contactless payments totalling less than £100 a month!
I didn't do that. What makes you say I'll be fine?
For anyone else that has just applied, it took three or four hours for any emails to come through after completing the application.
My passport name order is [First name] [Last name] [Other first name] which complicates things like this
Surprised really I am on good money, (£40G+) nineteen years in my job, no mortgage etc. My property is shred ownership, I own half of it and rent other, I wonder if that would go against me (?).
Shame as was looking for a decent savings account.
But, as I've checked the TSB's T&C, it states the original account should be closed.
Does any one tried to get the bonus by apply for switching without closing the original account ?
Thanks in advance
"- Transfer all active credits and debits from your old account and close it "
So do you have to actually close your other current account to qualify..?
You need to be talking about a tank of fuel costing £10 less than it did 2 years ago, a loaf of bread being cheaper, price of a pint of milk etc.
These are the type of things which drive inflation rates up/down.
Thats funny it is now - wasn't about an hour ago.
Just to say it's definitely 5% off on up to £100 of contactless purchases each month. So in other words up to a fiver a month.
The person you spoke to must have misunderstood or got it wrong. :smiley:
does anyone know if this is good enough for a switch?
There appears to be no moneysupermarket link to do this.
0345 835 3863
I applied (opened) a new tsb account through this link, and switched down the line. HTH
The OP states "The £125 incentive starts today is exclusive to Money supermarket .com, so make sure if you switch you do so via the link, and not via the TSB normal web site."
Therefore what is not clear is how you switch. I've assumed it's via the TSB website directly and done that just now. This should be clarified though.
How will the bank know I have or havent got a credit card with my old bank?
Its worth it for me anyway but the £125 is the main reason.
A bit putting off, not allowing customers with recently opened (same new Current Account Plus) to get incentive for switching to them. Will look into the Coop's offer as well.
I am currently in process of setting everything up with First Direct, little time consuming to go through all their unique security process for internet banking and mobile app, so different from any other bank. I could not bear to wait their estimated 48 hours to receive any kind of confirmation/communication about my application. Filled in application last night, and phoned their free number to find out if my application has been received and considered. The adviser helped me to set up the initial security features and info, also gave me the new account details, so I could actually go ahead and set up internet banking and mobile app access. Now, the switching process, required pay in and wait for the kind incentive to credit!
Get a text saying, "transfer failed, call us".
Eventually have time to call them - 20 mins going through details, guy discovers old account is joint, can't continue - waste of time.
Told to go to branch to change it to joint - go in with my wife this morning. "You need an appointment to do that". Wanders off to get manager (obviously used to people telling her that's stupid and didn't need to be told)
Manager says, you need two forms of ID - hand over driving license and a credit card. Sorry - no, needs to be a really specific set of ID - can't switch.
Say, fine, I just want to close the account then - argues with me in the middle of the bank, getting quite irritable. Eventually had to say, I don't want to argue, just close the account and consider it a lucky dodge from having been a customer.
Not worth the free cash in the first year... Moving bank is easy? Bull...
Did I need to do anything else after that to qualify for this offer? I've received an e-mail saying what ID to bring in, but I'm just worried there was something else I needed to do, and there's no way of going back on to check without signing up again...
im just unsure about it all lol
There is a problem with some of the information you have submitted.
Please enter a valid value.
No idea what its on about as I have selected a branch, clicked continue and it keeps bouncing me back.
I've googled it and seems some people had the same issue which is a IT technical issue and they requset to re-apply again, which may have an impact on your credit score as it needs to go through a credit check again.
So, may I know whether does anyone else had a similar issue and how he/she resolved it ?
Thanks in advance
Boots
Lidl
Morrisons
Tesco
Poundland (£5 min spend required)
Wetherspoon (still £20 limit in my local)
Waitrose
That's where I used my card last month.
Weird that I have to bring the documents as well to be honest, as I am homeowner living under my address for three years and have no bad credit history. Hope that's nothing to do with me being foreign, although I have lived in the UK for ten years now. Maybe it's the fact that I applied for the offered overdraft too, hopefully not. I never use overdraft, but thought, why not.
How long does it take for the £125 incentive to hit the account? I've set up the switch for next week, which will cover the minimum pay in and 2 x direct debits...
Also who's pay for switch TSB or moneysupermarket com??
Odd!