From IMPROVED 'Classic Plus' Account @ TSB - Best Reward Account on the High Street - £165 @ TSB Bank

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£165/year from IMPROVED 'Classic Plus' Account @ TSB - Best Reward Account on the High Street

£165 TSB Bank1 Mar 17

Source: HotUKDeals | Deals > All categories

Opening post

samspud

28 Feb 17

Available on NEW Classic Plus accounts opened from today 1st March 2017 -

3% Interest per year on the first £1500 (£3.75 per month)

£5 per month for just using your Debit Card at least 20 times per month

£5 per month for having 2 Direct Debits on the Account

= £13.75 per month for just using your account! (x 12 = £165)

Only Criteria -

Pay £500 per calendar month through it & be registered for Internet Banking and paperless statements and correspondence

You cannot already have one, nor had one previously (even if closed and reopened).

For new or current customers opening their 1st Classic Plus account

Top comments

rogparki to Curlyman83

28 Feb 17 29 #14

Loyalty means nothing these days - its just the race for new customers . Had the same thing with Car Insurance with Hastings . Renewal notice £220 - so I checked the compare sites - could get it for £160 (same cover ,same excess etc) guess who with -Hastings :confused: . Rang them up told them where they could stuff their renewal and why . They told me they would match that quote . I then gave them a lecture on loyalty to existing customers and requested that my comments (the polite ones) be forwarded to senior management . Ended up paying £7 more from AA insurance . Its not about the money its about the way they think their customers are idiots ! How many customers , especially the elderly and those without internet access , just blindly pay the renewal ? Hope I've done my small part in making them think twice about it and if we all did the same they might rethink .

Sorry rant over :confused: There is no such thing as loyalty to long term customers these days - get used to it :confused:

AhmadK74

28 Feb 17 11 #6

Current customers are not important anymore.. Cold

Curlyman83

28 Feb 17 5 #8

Been with TSB forever, so I'm not eligible. This kind of thing really gets my goat...I'd leave for pastures new if their was a decent bank with a branch within five miles of my home!

rogparki to kpmatthews

28 Feb 17 4 #21

Again I agree . Years ago I used to enjoy getting what I considered a "deal" . Frankly now I find it a pain to have to go through compare sites every year for car insurance ,home and contents insurance ,motorbike insurance , energy , broadband etc etc. But you have to do it otherwise you end up paying up to 30% more if you just accept the renewals . OK for me and you , but what about the hundreds of thousands (mainly elderly) who just pay up as they believe their provider is loyal to them ? Sorry it annoys me - not for myself ,but for the thousands who cannot shop around .

Latest comments (67)

samspud

22 Jul 17 #67

Banking with them fine - only If you've specifically had a Classic Plus prior to 1/3/17.

Curlyman83

28 Feb 17 5 #8

Been with TSB forever, so I'm not eligible. This kind of thing really gets my goat...I'd leave for pastures new if their was a decent bank with a branch within five miles of my home!

rogparki to Curlyman83

28 Feb 17 29 #14

little_green to Curlyman83

22 Jul 17 #66

So your not eligible if you already have accounts with tsb? I was hoping to get this set up but I've been with tsb for quite a number of years
Can't see anything that says new customers only?

Sharpharp

28 Feb 17 1 #5

Can you convert an existing classic account to the new one?

Is there a way of using the Card 20 times with a minimum spend over the internet?

samspud to Sharpharp

28 Feb 17 #12

U can. As long as not had the 'Plus' element before. 20 transactions include shops, internet, Apple Pay etc

RogerN to Sharpharp

1 Mar 17 #52

Last 5% cashback offer expires 30/9/17. I'll phone them then to cancel, unless they agree to switch to that offer. Unless there's a new switch and TCB offer from another bank available then (I've done all the current ones :smirk: )

shanraja to Sharpharp

24 Mar 17 #65

Where does it give full info on online banking about the bonuses

Jules_HT

17 Mar 17 #64

Sorry HSBC not RBS, keyboard got ahead of me.
Nationwide is better for being RAF, no? Doubles the money. You'd think most people could find a friend with a Nationwide acc (I had two and had to get them to toss a coin for the £100).
Halifax was £100 when I did it, is £75 now.

At least TSB was quick and easy- all done on the website in about 10 mins, switched 2 weeks later.

My RBS switch is taking forever - 3 weeks and counting and all I've received is a letter to give them my sig and a debit card (no letters, no online banking stuff, no account numbers or sort codes) and then I have to do the switch separately after it's done (within 2 weeks of the account opening, I think). At least I don't have to go into a branch like I did with Nationwide...

wildecat

16 Mar 17 #63

RBS switching offer? I've not seen it.
Nationwide is RAF not straightforward RAF.
Halifax is £75

That said, if it was only a savings account they will usually honour the switching offer if you call them up as their systems just detect that you had a previous account ( names and DOB) I'm guessing.

slaha11

11 Mar 17 #62

for making 20 transactions a month, easiest is to use the debit card at bus and tube for your daily commute. (if you can, that is)

wadz

1 Mar 17 #38

Anyone know if you can you create joint account and still be eligible for the benefits?

4godssake to wadz

2 Mar 17 #61

2.4 If you have more than one Classic Plus account (for example, a Classic Plus account in your own name and an account
in joint names) and you make at least 20 debit card payments from each account, you will earn £5 cashback on
each account.
3. £5 Cashback for 2 Direct Debits
3.1 You must make at least 2 Direct Debit payments from your account each calendar month to earn £5 cashback.
3.2 The 2 Direct Debit payments each month must be made to different companies.
3.3 Direct Debits will count towards earning £5 cashback based on the date the money is taken from your account. This may
not be the same date that the Direct Debit was set up to be taken from your account, if that date falls on a weekend or a
bank holiday.
3.4 If you have more than one Classic Plus account (for example a Classic Plus account in your own name and an account in
joint names) and you have at least 2 Direct Debit payments each month from each account, you will earn £5 cashback on
each account.

so looks as if you get the cash back if you open a joint account even if you already have a sole account. online transactions included.

And nothing to stop you splitting your weekly shop into smaller amounts, ie pay for half then pay for the rest, therefore using your card twice (or more) in one transaction. in the shop where I work we quite often get customers paying for each item separately using the same card - now I know why!

blackaqua

2 Mar 17 #60

Just thinking back to the TV advert when I joined them...

https://www.youtube.com/watch?v=5NMAF7EL1JU

hmmm

lindus

2 Mar 17 #59

where should existing **** off tsb customers head too?? I'm fed up missing out I will go collect reward elsewhere then join back tsb after qualified for the cash and get a second reward.... 2 can play this game :man: no?

rumble

2 Mar 17 #58

Too many hoops.

ukscoob1

1 Mar 17 #57

Agree. They all do it. Renewal is massive and hope you dont notice. If you signup as new you can get way cheaper. Hastings Privilege Admiral are my most recent providers. I have to change every year because they want hundreds more at renewal (despite no claims) but I can get cheaper from them as new customer. Mind boggles.

Back on track... I have a TSB account but now cant get this new offer? Why? It is mental. I will ask anyway and see. As should we all.

Norwichlad

1 Mar 17 #55

So if I set up direct debit transfer of 1p into my Paypal / other account 20 times a month that counts?

crumpetman to Norwichlad

1 Mar 17 #56

A direct debit is not the same as using your debit card

rogparki

1 Mar 17 #54

I think you got it absolutely right (inadvertently ) - AA will be my best fiend for a year , and probably just a fiend at renewal time :smiley:

grahamc2003

1 Mar 17 1 #53

But loyalty does mean something these days. It means you're a mug if you are loyal. Seems to be most companies are prepared to spend loads acquiring new customers but little to keep loyal ones. It's even worse for your gas and electricity, quite a complex (so expensive) process to switch, yet many switch every year. Probably bills could be cut by 10% without the switching rewards.

ws007

1 Mar 17 #51

my god this company offered you a service that you could find cheaper elsewhere!!! WOW

it`s as if this company is not your best friend, and is only interested in making money, disgusting!!!

but please doun`t worry i`m sure the AA will be the best, best fiend you can buy, well till next year :confused:

Jijin2

1 Mar 17 #50

Is this better than the old deal with the 125£ switching incentive and 5% cashback on contactless?

rooney10

1 Mar 17 1 #49

Its easily done , doesn't have to be all at once. Other ways of making transactions could be making a payment to your credit card online , this takes me about 2 minutes max and I can pay any amount (£1 would be fine). Equates to around min wage I guess from the comfort of my sofa. :wink:

LiGhTfasT

28 Feb 17 4 #7

debit card 20 times a month is a little much, even for the misses

rogparki to LiGhTfasT

28 Feb 17 1 #10

I hear your pain :laughing: but quite easy really . Just go round the Supermarket 3or 4 times on each visit (just costs a bit of shoe leather ) do the weekly shop in 4 smaller chunks using your card each time - Just a bit of Lateral thinking required :smiley:

samspud to LiGhTfasT

28 Feb 17 #13

5 times a week? You'd be surprised - they add up

walsall123 to LiGhTfasT

1 Mar 17 #48

Just buy something for pennies at self-service ie. Tesco (Could be a bit annoying)

rooney10

1 Mar 17 2 #47

I agree for some people they may not be bothered to spend 10-12 minutes of their time to get £5 for free
However, we are not all on a minimum of £25 an hour , therefore I would imagine that there are loads of people who find £25 an hour to be more than acceptable in terms of being cost effective (time vs money ratio) .

I understand that people may not be bothered doing this , but for most this isn't because of a time vs money reason as we have already worked out that this appears to be quite attractive , its just simply that they couldn't be bothered to spend 12 minutes extra at the supermarket for a £5 reward each time.

mbuckhurst

1 Mar 17 #46

I think you'd be surprised at how many people are the same, I use my CC for everything (for the cashback), but even if I didn't I would never pay with debit card at my local greengrocers, once that's removed, I'd struggle to buy 20 items a month in the supermarket, one at a time.

mike

Jules_HT

1 Mar 17 #45

Nationwide? RBS? Halifax? Loads of accounts around offering switching bonuses. Get 'em whilst they're hot!

Common.Sense

1 Mar 17 #44

Do these really use a debit card instead of earning cashback on a credit card and keeping money in interest paying accounts? I am shocked. The only time I use a debit card is if there is a credit card surcharge.

Common.Sense

1 Mar 17 #43

If time is money. So for £5 it probably is not cost effective!

twinkle

1 Mar 17 #42

I tried a switch to First Direct last week but seems I had a saving account 20 years or so ago so I don't qualify

daz1969

1 Mar 17 #41

just switched to them to get this deal, done in a week with no problems at all :smiley:

twinkle

1 Mar 17 1 #40

£75000 pay in per year for Barclays and £100000 for HSBC

Jules_HT

1 Mar 17 2 #39

Mine too. I wouldn't worry, there is no minimum time for staying as far as I can tell, so as soon as the £125 hits I'll be off to First Direct for another £100, whilst these suckers are paying for mars bars one by one for their monthly fivers :smile:

Sweetcorn12

1 Mar 17 #37

I would not be surprised if the cashback deal resurfaces on this deal, the way it has been for most periods last year, making this deal not so good

Revolex77

1 Mar 17 1 #35

I literally got a TSB account last week. Balls.

danny777 to Revolex77

1 Mar 17 #36

Mine literally swapped yesterday's as well :neutral_face:

F4STFORW4RD

1 Mar 17 2 #32

I wondered why MSE were offering £125 cashback for opening a TSB account, but only up until 27th February...

DUNOEboutTENG to F4STFORW4RD

1 Mar 17 1 #34

I just switched for that bonus (+ the fact Barclays service is horrendous), thought I'd missed out on £40 here.
But would rather the £125 at once than drip fed the £165 over a year tbh

jmb

1 Mar 17 #33

Totally agree with your comments, we had the same last week with one of our insurances, they guy couldn't understand how we got a cheaper quote online with the same company, same cover etc for nearly £40 cheaper, he checked and his comments were 'Oh, you are correct, that isn't very good is it', he said he would point this out to his line manager, but nothing will happen, they don't care :disappointed:

Common.Sense

1 Mar 17 #28

£5 per month for just using your Debit Card at least 20 times per month.

I have never do this. I use a credit card for cashback.

It would mean going to Tesco, buying 20 sweets and scan and pay each one separately for £5. Is it worth it?

rooney10 to Common.Sense

1 Mar 17 1 #30

Think of it another way , your favourite bar of chocolate costs say 25p and you can have up to 20 FREE but you have to scan them separately for the offer to work ..........
Now , tell me it isn't worth it !

samspud to Common.Sense

1 Mar 17 #31

Most people aren't like u

rooney10

1 Mar 17 #29

TERMS .....
4.2
For accounts opened after 1 March 2017, cashback is paid on debit card transactions and Direct Debits up to and including 30 June 2018, unless we tell you otherwise.

Cashback will only be payable for 14 months then by the time the account is properly setup :wink:

cliosport65

1 Mar 17 #27

shame existing customers can't upgrade to this offer , no loyalty at all and the thing is they wouldn't be where they was today without their existing customers :smirk: heat added anyway :wink:

MusaX

28 Feb 17 #22

Does paying buy debit card online to shop count as a transaction? Or does it mean in stores etc?

rogparki to MusaX

28 Feb 17 1 #23

As a current TSB customer I presume it does as on my statement all the transactions have a code by them . SO = standing order, DD = Direct Debit etc. The last 2 on line payments via debit card I made show as DEB as do my last 2 store Debit card payments .

samspud to MusaX

1 Mar 17 #26

Anything

rugbymike

1 Mar 17 #25

All those accounts you mention seem to require, at the very least, £50,000 in assets. Not really comparable.

rvcshart

1 Mar 17 #24

Well, it's the same with phone/broadband. I'd say phone/broadbands the worst for it by miles though.
My car insurance was 560 via new policy, 610auto renewal. And yes same company.

Would I rather they make money charging everyone more or by charging the select few too stupid/lazy to shop smarter?
I'd rather people to lazy to shop around get charged over myself when I've the need to.
I let my house and car insurance auto renew this year as I was too busy, wasn't worth my time et cetera.

kpmatthews

28 Feb 17 1 #19

Folk always moan about offers not being available for existing customers. You must have taken advantage of these offers when you were a new customer?

rogparki to kpmatthews

28 Feb 17 4 #21

rogparki

28 Feb 17 2 #20

They did - and I told them what they could do with their offer of matching the price I found on the comparison site . So you would give them an open goal ? Pay the inflated renewal or feel chuffed if you get them to match the going rate ? Sorry ! - You are OK with your mum or grandma , or someone else's mum or grandma paying 30% over the odds because of their practises ! Its not about cutting off my nose , if enough of us did it it would help our more vulnerable folk get a better deal . I'm happy with paying an extra £6 ish just to make me feel I've done my bit , by telling them where and why they can stuff my custom .

rogparki

28 Feb 17 #18

Going round the till (especially the self service tills - I never use them) a few times isn't that much hassle - but I agree I couldn't be bothered for £5.

HellRazer

28 Feb 17 2 #17

Cutting off your nose to spite your face? Everyone knows for a fact that renewal prices for insurance tends to be higher. The companies do so to take advantage of folks who don't bother shopping around. I would've just asked them to match the cheaper price and left it at that.

samspud

28 Feb 17 1 #16

20 sounds a lot but isn't. You'd be surprised. Count down ure bank statement for card transactions and they soon mount up

stesavingexpert

28 Feb 17 2 #15

alot of arsing about for £5 a month though.

alu355

28 Feb 17 #11

Depends what you are looking for but HSBC Premier and Barclays Premier are good as is RBS Black

rogparki

28 Feb 17 1 #9

Have to have a look at this . Just noticed my 5% (on the first £100 each month) on swipe payments finished on 31 Dec last year . Still got 2 accounts paying (reduced from 5%) 3% on a (reduced from £2000) balance of £1500 . Was getting (2 accounts ) 5% on £4000 - now getting 3% on £3000 .. Still better than a kick in the teeth these days , don't think this deal will help me - but voted hot for those it may help .

AhmadK74

28 Feb 17 11 #6

Current customers are not important anymore.. Cold

darkovo

28 Feb 17 #3

"Available on NEW Classic Plus accounts opened from today 1st March 2017 -"

My time zone is still 28th February 2017 !!

samspud to darkovo

28 Feb 17 1 #4

Lol sorry bit early

alu355

28 Feb 17 2 #1

Not bad but this isn't the best rewards account