Slightly less incentive than last time at £100 to switch ( previously £125), but none the less you still get £5% interest on balances up to £2000, and still receive 5% cashback on your first £100 of contactless payments each month. The account also come with an optional £5% ( for the first year) regular savings account.
How to apply
1.This offer is available if you open a new TSB Classic Plus Account through MoneySupermarket or Money Saving Expert between 11 January and 8 February 2016. You must then complete your switch using the Current Account Switch Service by 4 March 2016. TSB have the right to withdraw, alter or replace the offer at any time.
2.To receive the £100 payment, you must allow cookies in your browser before starting an application for a Classic Plus Account.
3.This offer is not available through our branches, over the telephone or directly through TSB.co.uk or through Mobile Banking.
Eligibility
4.To qualify for the offer you must:
a. Open a new Classic Plus account by 8 February 2016 and have completed your switch to TSB using the Current Account Switch Service by 4 March 2016.
b. As part of the switch transfer all active credits and debits which must include a minimum of 2 active Direct 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 still have a minimum of 2 active Direct Debits registered at that time
5.Account opening is subject to our assessment of your circumstances. You must be 18 or over and a UK resident to apply.
6.You can only benefit from this offer once.
7.The Classic Plus account is restricted to one account in your sole name and another Plus account in joint names.
8.You cannot switch your joint account to TSB under this offer.
9.This offer is not available to employees of TSB Bank plc.
10. 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.
11.Switches completed after the 4 March 2016 will not be eligible to receive the £100 payment.
Payment
12.Payment will be made to your new TSB bank account 28 days after the switch has completed (or the next working day if this is a bank holiday) and you have complied with the conditions of the offer.
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 0345 835 7838 (Lines are open 8am to 8pm Mon-Fri, 8am-4pm at weekends).
Note: In order to receive the 5% interest on balances up to £2000, you must pay in £500 per month (though all you have to do is set up a standing order from your main account to this one, then set one up to send it back to your main account the next day). You must also sign up to online banking and enable paperless statements/banking.
- xeroc
Top comments
zworld
11 Jan 1632#12
COLD!
Signed up for a current account and a business bank account. They wanted me to go to my nearest branch and show my ID and docs.
Went there the first day and they asked me to sit and wait. Sat around for 2 hrs and no one managed to see me. I just got up and left at the end. Next day, I thought I would do things the smart way and book and appointment. Spent the whole day and couldn't get through to anyone by phone at my local branch to even book a bloody appointment. Do I want to bank with such a bank? Hell not !
crumpetman
11 Jan 169#4
Best way round the direct debits is to setup a savings account at Tesco as you can use it to setup direct debits to pull money in from current accounts.
karlie88
11 Jan 167#9
5% interest on £2000 = £100
£100/12 = £8.33
Still, one of the best fee free current accounts out there IMO.
Ta OP.
skeewc1
11 Jan 166#46
Easy:
£2,000 at net interest rate of 3.91% = £78.20/year interest. Interest is calculated daily, so £78.20/365 = 21.4p/day.
Then the period from 2 Nov to 1 Dec is 29 days, therefore 29*21.4p = £6.21
Period from 1 Dec to 4 Jan is 34 days, therefore 34*21.4p = £7.28
Give or take a small amount of rounding, that's what you were paid...
All comments (185)
xeroc
11 Jan 165#1
I have this account, but don't use it as a main one. It's pretty good. Have £2000 sitting in there at all times and a SO to funnel the £500 through each month, with £250 staying in and going across to the Saver. Worthwhile.
LesD to xeroc
11 Jan 16#11
Where's the requirement for more than one £500 deposit?
"c. Pay at least £500 into your new TSB account within 28 days of the switch completing and still have a minimum of 2 active Direct Debits registered at that time "
cliosport65
11 Jan 16#2
can existing customers get the switching bonus ?
mcormack to cliosport65
11 Jan 165#6
Yeh, as many times as they want...........
lisamack to cliosport65
11 Jan 16#13
doesnt look like it - i just tried it and cant switch from a tsb account :disappointed:
iAmLegendFam
11 Jan 163#3
b. As part of the switch transfer all active credits and debits which must include a minimum of 2 active Direct Debits from your old account and close it.
That is an issue for me...
thebestrc to iAmLegendFam
11 Jan 16#58
Sign up to charities. Setup two DD's that way. Give as much or as little as you want
crumpetman
11 Jan 169#4
Best way round the direct debits is to setup a savings account at Tesco as you can use it to setup direct debits to pull money in from current accounts.
mcormack to crumpetman
11 Jan 161#8
One can do that with any funder's savings account.
woldranger to crumpetman
13 Jan 16#124
I'm out of the country for a couple of months so I obviously can't go and physically show my ID, is that necessary when setting up one of these? Also, which one, internet saver, instant access? Obviously I don't care about the account I just want another direct debit that will show up in my account.
martyn333
11 Jan 161#5
how do you get £120 interest ?
goldy12 to martyn333
11 Jan 16#7
If you maintain a balance of £2000 in the current account for a year at 5%, per month this gives you £10 interest each month (Interest paid monthly) , making £120 per year.
karlie88
11 Jan 167#9
5% interest on £2000 = £100
£100/12 = £8.33
Still, one of the best fee free current accounts out there IMO.
Ta OP.
amurray88
11 Jan 16#10
How do you do this? I have savings with Halifax and TSB and have set up standing orders to them but have never seen the ability to create direct debits from them? ta
zworld
11 Jan 1632#12
COLD!
Signed up for a current account and a business bank account. They wanted me to go to my nearest branch and show my ID and docs.
Went there the first day and they asked me to sit and wait. Sat around for 2 hrs and no one managed to see me. I just got up and left at the end. Next day, I thought I would do things the smart way and book and appointment. Spent the whole day and couldn't get through to anyone by phone at my local branch to even book a bloody appointment. Do I want to bank with such a bank? Hell not !
bigbolam to zworld
12 Jan 16#104
I've experienced a similar lack of service from their Leeds Headrow branch. All I wanted was a joint account for me and the wife. Turned out this is far too complex for the staff to sort, so now have two individual accounts (opened online), which on reflection may be better. Have struggled to use contactless due to the number of businesses who do not yet accept this method of payment, but the pub does.
zhenliuffc to zworld
12 Jan 16#110
You wait 2hours for everything in life rather than taking some initiative don't you?
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
![[Xbox One] Q. u. b. e: Director's Cut on Deals with Gold](/images/topics/208716_1.jpg)
Opening post
How to apply
1.This offer is available if you open a new TSB Classic Plus Account through MoneySupermarket or Money Saving Expert between 11 January and 8 February 2016. You must then complete your switch using the Current Account Switch Service by 4 March 2016. TSB have the right to withdraw, alter or replace the offer at any time.
2.To receive the £100 payment, you must allow cookies in your browser before starting an application for a Classic Plus Account.
3.This offer is not available through our branches, over the telephone or directly through TSB.co.uk or through Mobile Banking.
Eligibility
4.To qualify for the offer you must:
a. Open a new Classic Plus account by 8 February 2016 and have completed your switch to TSB using the Current Account Switch Service by 4 March 2016.
b. As part of the switch transfer all active credits and debits which must include a minimum of 2 active Direct 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 still have a minimum of 2 active Direct Debits registered at that time
5.Account opening is subject to our assessment of your circumstances. You must be 18 or over and a UK resident to apply.
6.You can only benefit from this offer once.
7.The Classic Plus account is restricted to one account in your sole name and another Plus account in joint names.
8.You cannot switch your joint account to TSB under this offer.
9.This offer is not available to employees of TSB Bank plc.
10. 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.
11.Switches completed after the 4 March 2016 will not be eligible to receive the £100 payment.
Payment
12.Payment will be made to your new TSB bank account 28 days after the switch has completed (or the next working day if this is a bank holiday) and you have complied with the conditions of the offer.
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 0345 835 7838 (Lines are open 8am to 8pm Mon-Fri, 8am-4pm at weekends).
Note: In order to receive the 5% interest on balances up to £2000, you must pay in £500 per month (though all you have to do is set up a standing order from your main account to this one, then set one up to send it back to your main account the next day). You must also sign up to online banking and enable paperless statements/banking.
- xeroc
Top comments
Signed up for a current account and a business bank account. They wanted me to go to my nearest branch and show my ID and docs.
Went there the first day and they asked me to sit and wait. Sat around for 2 hrs and no one managed to see me. I just got up and left at the end. Next day, I thought I would do things the smart way and book and appointment. Spent the whole day and couldn't get through to anyone by phone at my local branch to even book a bloody appointment. Do I want to bank with such a bank? Hell not !
£100/12 = £8.33
Still, one of the best fee free current accounts out there IMO.
Ta OP.
£2,000 at net interest rate of 3.91% = £78.20/year interest. Interest is calculated daily, so £78.20/365 = 21.4p/day.
Then the period from 2 Nov to 1 Dec is 29 days, therefore 29*21.4p = £6.21
Period from 1 Dec to 4 Jan is 34 days, therefore 34*21.4p = £7.28
Give or take a small amount of rounding, that's what you were paid...
All comments (185)
"c. Pay at least £500 into your new TSB account within 28 days of the switch completing and still have a minimum of 2 active Direct Debits registered at that time "
That is an issue for me...
£100/12 = £8.33
Still, one of the best fee free current accounts out there IMO.
Ta OP.
Signed up for a current account and a business bank account. They wanted me to go to my nearest branch and show my ID and docs.
Went there the first day and they asked me to sit and wait. Sat around for 2 hrs and no one managed to see me. I just got up and left at the end. Next day, I thought I would do things the smart way and book and appointment. Spent the whole day and couldn't get through to anyone by phone at my local branch to even book a bloody appointment. Do I want to bank with such a bank? Hell not !