Can you setup the TSB Classic plus but not switch?

prezzacc · 21 May 2017 at 3:24PM

Hi ,

Wonder if anyone knows ;

I've recently setup a new bank account and plan to switch it TSB to get the £130 cashback. I will swap some Direct Debits from my main account to my new account ready for the switch to TSB. However due to the time, all my DD if changed will now not come out until the 1st July (hoped to make 1st June) so i cant switch until after the 1st July.

My question - can i apply for the TSB account through the link, but not switch until after the 1st (to allow the direct debits to be active) or does it apply and switch all in one?

Thanks

badger09 · 21 May 2017 at 3:28PM

prezzacc wrote: »

Hi ,

Wonder if anyone knows ;

I've recently setup a new bank account and plan to switch it TSB to get the £130 cashback. I will swap some Direct Debits from my main account to my new account ready for the switch to TSB. However due to the time, all my DD if changed will now not come out until the 1st July (hoped to make 1st June) so i cant switch until after the 1st July.

My question - can i apply for the TSB account through the link, but not switch until after the 1st (to allow the direct debits to be active) or does it apply and switch all in one?

Thanks

What do the T&C of your particular switch offer say?

This one:

http://www.tsb.co.uk/cashback-money-supermarket-termsandconditions.pdf

says complete switch by 14 July, so you would be ok. However, I don't know if that is the one you're using:cool:

prezzacc · 21 May 2017 at 3:46PM

Thanks for that. Yes thats the one im looking at.

I just wasnt sure how the switch worked ? Wondered if you had to setup and switch all in one form.

If thats the case i can setup today for example and then wait until after the 1st and get the switch in time!

Just hope its two separate forms to do.

prezzacc · 21 May 2017 at 4:21PM

Done a bit more digging and the link states its two separate forms. So i can apply, get the account opened, then switch quickly before the 14th!

Thanks

badger09 · 21 May 2017 at 4:29PM

prezzacc wrote: »

Done a bit more digging and the link states its two separate forms. So i can apply, get the account opened, then switch quickly before the 14th!

Thanks

It is always a 2 step process.

Step 1 open new account
Step 2 ask new bank to switch old account in

And, you can always choose your own switch date, though usually the new bank will tell you the earliest date it can do it. Obviously, in your case, you can choose a date after your DDs have paid out, but before the last date specified in the incentive;)

MONEYTREE_2 · 21 May 2017 at 11:10PM

I have just opened a TSB account, with the intention to switch and I can assure you that you set up the account first, get all your stuff like debit card etc, THEN they give you about 6 weeks to do the actual switch.

Don80 · 22 May 2017 at 10:52AM

prezzacc wrote: »

Hi ,

Wonder if anyone knows ;

I've recently setup a new bank account and plan to switch it TSB to get the £130 cashback. I will swap some Direct Debits from my main account to my new account ready for the switch to TSB. However due to the time, all my DD if changed will now not come out until the 1st July (hoped to make 1st June) so i cant switch until after the 1st July.

My question - can i apply for the TSB account through the link, but not switch until after the 1st (to allow the direct debits to be active) or does it apply and switch all in one?

Thanks

Hi

You should be able to provide a switch date in the next month so you can set this up earlier. I would not worry about the DD dates - they get transferred to the new account for you as part of the switch and your bank covers you for any errors. As long as the direct debits have been set up on your old account (even if they have not actually been used yet) there should not be any problems. Any payments should also be redirected to your new account for 13 months.

Katiehound · 22 May 2017 at 4:09PM

But if the switch bonus relies on having active DDs then I always get the DDs to pay out at least once before switching.... I wouldn't want to risk losing the bonus! (and I also make sure that the minimum payment is active too as I set it up as a SO rather than a manual transfer.)

prezzacc · 23 May 2017 at 7:55PM

Thank you all for the replies. I also would like to wait for it to pay out "Just in case" however ive spotted the 1st is a saturday , so my new DD will be coming out the 3rd. Ill do the switch on the 3rd...7 workin days takes me to the 12th, 2 days before the deadline, lets hope they arent running late!!

Thanks

teddysmum · 24 May 2017 at 3:48PM

I have never switched , but have opened other current accounts for the interest paid,so have been unaware of the process ie opening an account ,then asking for a switch to it.

Our main account is a joint one with the Co-op and my husband has preferred to keep that open. However, if the Co-op does cease trading and there is still a switch bonus, could we claim it for transferring this accounts business (salary/pensions in, direct debits out ) to an existing joint account with TSB (currently used foe interest and contactless bonus) ?

eskbanker · 24 May 2017 at 4:06PM

teddysmum wrote: »

Our main account is a joint one with the Co-op and my husband has preferred to keep that open. However, if the Co-op does cease trading and there is still a switch bonus, could we claim it for transferring this accounts business (salary/pensions in, direct debits out ) to an existing joint account with TSB (currently used foe interest and contactless bonus) ?

It obviously depends on the terms of any switching offer available at this hypothetical point in the future, but the current one is predicated on opening a new Classic Plus account, and you wouldn't be able to open a new joint Classic Plus if you already have one....

Can you setup the TSB Classic plus but not switch?

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