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TSB £500 pm bounce betweet banks/
wessex100_2
Posts: 7 Forumite
Hi All
Thinking of opening a TSB current account with £10k.
Can anyone see why I can,t set up a transfer from another bank to meet their £500 pm clause and then bounce it back to the first bank a couple of days later?
Thanks in advance
Thinking of opening a TSB current account with £10k.
Can anyone see why I can,t set up a transfer from another bank to meet their £500 pm clause and then bounce it back to the first bank a couple of days later?
Thanks in advance
0
Comments
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No reason at all.Hi All
Can anyone see why I can,t set up a transfer from another bank to meet their £500 pm clause and then bounce it back to the first bank a couple of days later?
And it doesn't even need to be a few days, can be transferred straight back. You can also do a transfer between 2 TSB accounts.
They've recently cut the number of accounts you can open so you may only get interest on £2000 unless you open a joint account.Remember the saying: if it looks too good to be true it almost certainly is.0 -
thanks for the help ........ yes I was hoping to get the 5% interest on the 10k but just put in the obligatory £500 p/m from my other current acc. and bounce it back to meet the rules ??0
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Now may be a good time to read the account T&Cs...only one page so not too onerous!thanks for the help ........ yes I was hoping to get the 5% interest on the 10k
Might save some tears later.
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Just realised they have a £2000 ceiling....damn.
Thanks for advise tho. Will look for another place for the whole 10k. Moving £500 around every month just for 5% on 2k hardly seems worth it.0 -
Your choice, you can get 3% on up to £20k at Santander, 4% on £5k at Lloyds.Eco Miser
Saving money for well over half a century0
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