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MSE News: TSB offers bank switchers free £125, £5/mth cashback AND 3% interest

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  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    sheffieldeagle wrote: »
    Does anyone know if you choose the option to go paperless during the application process or once your online account is open? I've noticed this is a condition to earn the 3% interest.

    Thanks
    I can't remember, but does it really matter?...even if you'd selected it during the application, then you'd still be wise to check it's been applied correctly just as soon as you'd online access.
  • wallofbeans
    wallofbeans Posts: 1,403 Forumite
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    YorkshireBoy wrote: »
    As has been said many times on here, it's just as important to read what the T&Cs DON'T say, as it is to read what they DO say.

    Remember, incentive T&Cs are not written to make it easy for those who are out to fleece them...they're written for 'general' customers!

    I'm confused. How can I read what they don't say?
  • blindman
    blindman Posts: 5,659 Forumite
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    sheffieldeagle wrote: »
    Does anyone know if you choose the option to go paperless during the application process or once your online account is open? I've noticed this is a condition to earn the 3% interest.

    Thanks

    IIRC once the account is open.
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,871 Forumite
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    wallofbeans wrote: »
    I'm confused. How can I read what they don't say?

    If the T&C don't say something then it doesn't apply, e.g. if TSB don't say you have to have not been an account holder with them for a certain time before being eligible for an incentive as is the case with HSBC, then you don't.

    TSB aren't HSBC!;)
  • grumbler
    grumbler Posts: 58,629 Forumite
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    edited 9 February 2017 at 2:58PM
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    wallofbeans wrote: »
    I'm confused. How can I read what they don't say?
    It's really simple.
    The T&C clearly define the eligibility for bonus.
    All other factors that they don't mention can't affect it even if, like you say, they don't like it.

    It's a different question, how far you'll have to go to enforce the T&C if they "don't like" and deny the bonus, and nobody here can advise you how likely this is to happen (pretty unlikely IMHO, but it's not the answer you want).

    Hence the advice to read the T&C and make your mind up.

    Also, they are within their rights to decline you for a new account if you just closed the old one, of for some other reason, or without any reason.
  • Katiehound
    Katiehound Posts: 7,676 Forumite
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    You also had to ensure that you opted for paperless communications as well to get the interest and that option wasn't completely obvious!
    I assume that is still the case.
    Being polite and pleasant doesn't cost anything! --
    Many thanks
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82

    2024:37 Doggy duvets,30 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=178 £88.25 spent!!!
  • wallofbeans
    wallofbeans Posts: 1,403 Forumite
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    Yorkshire_Pud wrote: »
    If the T&C don't say something then it doesn't apply, e.g. if TSB don't say you have to have not been an account holder with them for a certain time before being eligible for an incentive as is the case with HSBC, then you don't.

    TSB aren't HSBC!;)

    That makes total sense now - thank you!
  • wallofbeans
    wallofbeans Posts: 1,403 Forumite
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    grumbler wrote: »
    It's really simple.
    The T&C clearly define the eligibility for bonus.
    All other factors that they don't mention can't affect it even if, like you say, they don't like it.

    It's a different question, how far you'll have to go to enforce the T&C if they "don't like" and deny the bonus, and nobody here can advise you how likely this is to happen (pretty unlikely IMHO, but it's not the answer you want).

    Hence the advice to read the T&C and make your mind.

    Also, they are within their rights to decline you for a new account if you just closed the old one, of for some other reason, or without any reason.

    Really helpful - thank you!
  • Molly4
    Molly4 Posts: 1,323 Forumite
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    "Also, they are within their rights to decline you for a new account if you just closed the old one, of for some other reason, or without any reason.Originally posted by grumbler"






    Going on the above is it wise to be honest with the bank as to why you are opening a new account or closing an account or just say nothing and wait and see if you are allowed to open and close the new account in order to gain the benefits of the TSB account.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    molly57. wrote: »
    "Also, they are within their rights to decline you for a new account if you just closed the old one, of for some other reason, or without any reason.Originally posted by grumbler"






    Going on the above is it wise to be honest with the bank as to why you are opening a new account or closing an account or just say nothing and wait and see if you are allowed to open and close the new account in order to gain the benefits of the TSB account.

    You don't have to tell them a reason for closing an account, I close mine last week by simoltpy writing a letter and hand posting in branch on Sunday, they apparently need a signature, I haven't got time to get to the branch in opening hours and saved a stamp when I was in city anyway! Proper mse.

    Opened my new account yesterday, gave reason as savings and went through fine.
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