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

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  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    edited 2 March 2017 at 2:27AM
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    Terry98 wrote: »
    . . . On 21st Feb I did get an email and a credit on my account for the cashback,but not as much as I thought it would be.
    Don't forget that cashback is paid on transactions which have been posted in the previous calendar month. Transactions made close to the end of the month may not be posted to the account until the following calendar month.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Terry98
    Terry98 Posts: 1,155 Forumite
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    Consumerist wrote: »
    Don't forget that cashback is paid on transactions which have been posted in the previous calendar month. Transactions made close to the end of the month may not be posted to the account until the following calendar month.

    Thanks for that. Yes the transactions take a couple of days to show on the account.

    The email sent on 21st Feb was headed 'Cashback For January' so that clears it up.
  • schiff
    schiff Posts: 20,099 Forumite
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    edited 2 March 2017 at 11:09AM
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    Advert in the London Evening Standard yesterday offering an account with £1500 @ 3%, the same £5 per month cash-back plus £5 per month if you do 10 or was it 20 transactions in the month (didn't save the paper, sorry).

    No switching bonus of course and assuming no second accounts.

    Edit: I knew that hoping to be first with the news of something new would fail.

    See the new thread devoted to it.
  • fordfocus-chav-car
    fordfocus-chav-car Posts: 158 Forumite
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    Anyone know when the £125 bonus should be paid?
  • dave52
    dave52 Posts: 12,005 Forumite
    edited 7 March 2017 at 6:31PM
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    fordfocus-chav-car wrote: »
    Anyone know when the £125 bonus should be paid?


    I got sent on the day Switch completed an e-mail including 5 attachments reference the account.

    One of the attachments is shown below


    £125 Current Account Switcher offer terms and conditions –

    1. This offer is available if you open a new TSB Classic Plus account through MoneySupermarket or Money Saving Expert
    between 23 January to 27 February 2017. You must then complete a full switch using the Current Account Switch Service by
    31!March 2017. TSB have the right to withdraw, alter or replace the offer at any time.
    2. To receive the £125 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 27 February 2017 and have completed your switch to TSB using the Current Account
    Switch Service by 31 March 2017.
    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.
    d. Have a minimum of 2 active Direct Debits still registered on your new Classic Plus account at least 28 days after the
    switch!completes.
    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. We may
    convert your additional account into an Enhance account or another current account from our range. We!will give you at least
    two months’ notice before we do this.
    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 already have a Classic Plus account in your sole name.
    11. 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.
    12. Switches completed after the 31 March 2017 will not be eligible to receive the £125 payment.
    Payment
    13. 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) as long as 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 open 8am – 8pm Mon-Fri and 8am – 4pm Saturday).
  • n1guy
    n1guy Posts: 685 Forumite
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    dave52 wrote: »
    I got sent by e-mail on the day Switch completed an e-mail including 5 attachments reference the account.

    One of the attachments is shown below


    £125 Current Account Switcher offer terms and conditions –

    1. This offer is available if you open a new TSB Classic Plus account through MoneySupermarket or Money Saving Expert
    between 23 January to 27 February 2017. You must then complete a full switch using the Current Account Switch Service by
    31!March 2017. TSB have the right to withdraw, alter or replace the offer at any time.
    2. To receive the £125 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 27 February 2017 and have completed your switch to TSB using the Current Account
    Switch Service by 31 March 2017.
    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.
    d. Have a minimum of 2 active Direct Debits still registered on your new Classic Plus account at least 28 days after the
    switch!completes.
    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. We may
    convert your additional account into an Enhance account or another current account from our range. We!will give you at least
    two months’ notice before we do this.
    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 already have a Classic Plus account in your sole name.
    11. 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.
    12. Switches completed after the 31 March 2017 will not be eligible to receive the £125 payment.
    Payment
    13. 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) as long as 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 open 8am – 8pm Mon-Fri and 8am – 4pm Saturday).

    I never got this email. Wonder have I wasted my time now
  • Dird
    Dird Posts: 2,702 Forumite
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    From MSE news letter: http://www.tsb.co.uk/plus-money-saving-expert/?WT.mc_id=1613487|122013894|294961544|0

    1.1 You must open a new Classic Plus account on or after 1 March 2017.
    1.2 You must not have had a Classic Plus account with TSB before 1 March 2017.

    So we can't close the current and open a new one for the £5/month bonus?
    Mortgage (Nov 15): £79,950 | Cashback sites: £900 | Current accounts: 11
    Mortgage (May 19): £71,754 | £30k in 2016: £30,300 (101%)
  • Daps
    Daps Posts: 111 Forumite
    edited 9 March 2017 at 12:22PM
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    This sucks. Anything at all for existing TSB Classic Plus account holders?

    Now that the 5% up to £5 per month Contactless transactions incentive has expired, it's going to be really frustrating to see new customers all getting £5 for 2 DDs and £5 for 20 transactions, with seemingly nothing for existing customers except the now much reduced interest.
  • badger09
    badger09 Posts: 11,211 Forumite
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    Daps wrote: »
    This sucks. Anything at all for existing TSB Classic Plus account holders?

    Now that the 5% up to £5 per month Contactless transactions incentive has expired, it's going to be really frustrating to see new customers all getting £5 for 2 DDs and £5 for 20 transactions, with seemingly nothing for existing customers except the now much reduced interest.

    But those new customers didn't benefit from the previous offer, like existing customers did.

    You win some, you lose some. Move on?:cool:
  • lilmissworry
    lilmissworry Posts: 169 Forumite
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    Has anyone had the £125 cashback on this at all?
This discussion has been closed.
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