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  • FIRST POST
    • MSE Rosie
    • By MSE Rosie 23rd Jan 17, 12:52 PM
    • 38Posts
    • 19Thanks
    MSE Rosie
    MSE News: TSB offers bank switchers free £125, £5/mth cashback AND 3% interest
    • #1
    • 23rd Jan 17, 12:52 PM
    MSE News: TSB offers bank switchers free £125, £5/mth cashback AND 3% interest 23rd Jan 17 at 12:52 PM
    High street bank TSB has relaunched its free £125 offer for switching to its Classic Plus current account. Here's what you get and how it compares to other top pick bank switch incentives....
    Read the full story:
    'TSB offers bank switchers free £125, £5/mth cashback AND 3% interest'

    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.
    Last edited by MSE Luke; 23-01-2017 at 1:58 PM.
Page 12
    • bigadaj
    • By bigadaj 22nd Mar 17, 7:49 PM
    • 8,942 Posts
    • 5,684 Thanks
    bigadaj
    Hmm - Switch completed 22 Feb and no £125 yet. I was one of those who closed their existing classic plus first to take advantage of the offer.
    Originally posted by michaels
    Just got mine yesterday, with email confirmation today.

    Haven't got the exact date of switch to hand but I closed my old classic plus, opened the new one and then transferred in, just received my cashback for contactless as well for February too.
    • michaels
    • By michaels 23rd Mar 17, 7:52 PM
    • 18,691 Posts
    • 86,021 Thanks
    michaels
    Just got mine yesterday, with email confirmation today.

    Haven't got the exact date of switch to hand but I closed my old classic plus, opened the new one and then transferred in, just received my cashback for contactless as well for February too.
    Originally posted by bigadaj


    Apparently I had correctly remembered that I had not had a switcher bonus on the account I closed to get this one.

    But had forgotten I had already done a tsb switcher offer in 2015 and got £100 making me ineligible (and they checked)
    Cool heads and compromise
    • CAPTAINBLONDECHICK
    • By CAPTAINBLONDECHICK 24th Mar 17, 2:07 PM
    • 930 Posts
    • 11,114 Thanks
    CAPTAINBLONDECHICK
    Happy to say I got my £125 switch incentive today - exactly 28 days from switch day
    • savings my hobby
    • By savings my hobby 25th Mar 17, 12:18 PM
    • 344 Posts
    • 444 Thanks
    savings my hobby
    sorry if this has been asked and answered but does the usual tesco dd trick work. thanks in advanced for you time.
    Earn, Save and Achieve
    • Ashen
    • By Ashen 25th Mar 17, 1:44 PM
    • 355 Posts
    • 217 Thanks
    Ashen
    thanks in advanced for you time.
    Originally posted by savings my hobby
    This TSB offer ends on 31st March, and that's for completion of switches, so you're too late to set up any DD's to do a switch. (I assume you haven't done a switch already, as otherwise the question is only academic).

    The current TSB offer is different - have a look at their website.
    • moh456
    • By moh456 10th Apr 17, 12:31 AM
    • 1 Posts
    • 0 Thanks
    moh456
    I didn't get the cash back
    DEar sir,
    I have followed your switch link, and also made sure about the cookies, however i came to know the switch has not gone through the bank. I have saved the page of the switch confirmation from TSB.
    Please help me with the same.
    Thanks
    Moh
    • molly57.
    • By molly57. 10th Apr 17, 7:08 AM
    • 84 Posts
    • 52 Thanks
    molly57.
    Good Morning


    I switched to this account on 7th March. I received my £125 switching bonus a few days before the 7th April and had email confirmation. I have also received a small amount of interest as well. I have not received my £5 bonus for £100 qualifying contactless payments for March. How and when is this paid? Also is there and email address to contact TSB on as it's not very MSE to pay for phone calls to query anything. I could try live chat if I can't email them.
    • grumbler
    • By grumbler 10th Apr 17, 10:33 AM
    • 51,387 Posts
    • 21,753 Thanks
    grumbler
    I have not received my £5 bonus for £100 qualifying contactless payments for March. How and when is this paid?
    Originally posted by molly57.
    On the 18th-20th approx., IIRC (for the previous month).
    Last edited by grumbler; 10-04-2017 at 11:26 AM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • molly57.
    • By molly57. 10th Apr 17, 10:36 AM
    • 84 Posts
    • 52 Thanks
    molly57.
    Hello Grumbler


    Do you mean I will get my £5 bonus around the 18th - 20th April for my March spend?
    • grumbler
    • By grumbler 10th Apr 17, 10:36 AM
    • 51,387 Posts
    • 21,753 Thanks
    grumbler
    I have followed your switch link, and also made sure about the cookies, however i came to know the switch has not gone through the bank. I have saved the page of the switch confirmation from TSB.
    Please help me with the same.
    Originally posted by moh456
    Well, if you really have the proof, complain to TSB directly.

    Or, if the deadline for switching hasn't passed yet, just request switching again via online banking
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • grumbler
    • By grumbler 10th Apr 17, 10:47 AM
    • 51,387 Posts
    • 21,753 Thanks
    grumbler
    Hello Grumbler


    Do you mean I will get my £5 bonus around the 18th - 20th April for my March spend?
    Originally posted by molly57.
    Yes, that's what I would expect.
    That said, IIRC, the T&C said "during the next calendar month"
    Last edited by grumbler; 10-04-2017 at 10:52 AM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • schiff
    • By schiff 10th Apr 17, 11:00 AM
    • 17,410 Posts
    • 8,742 Thanks
    schiff
    Mine has been credited on the 20th throughout, if that helps
    • welshmoneylover
    • By welshmoneylover 14th Apr 17, 3:47 PM
    • 2,671 Posts
    • 3,549 Thanks
    welshmoneylover
    Quick question regarding the 20 transactions a month, does anyone know if I use my card 3 times on the same day in the same store would it still count as 3 or as 1? Just thinking about when I go to Tesco to buy food or fuel
    Good on the Tories
    • schiff
    • By schiff 14th Apr 17, 6:20 PM
    • 17,410 Posts
    • 8,742 Thanks
    schiff
    It has worked for me when I've bought fuel and goods on the same day at the same store.
    • ceredigion
    • By ceredigion 14th Apr 17, 6:39 PM
    • 2,100 Posts
    • 2,348 Thanks
    ceredigion
    Quick question regarding the 20 transactions a month, does anyone know if I use my card 3 times on the same day in the same store would it still count as 3 or as 1? Just thinking about when I go to Tesco to buy food or fuel
    Originally posted by welshmoneylover

    I'm not entitled to this offer as we already have some TSB accounts, so not tried this. But it occurred to me that a Post office savings account might be beneficial
    • molly57.
    • By molly57. 14th Apr 17, 8:58 PM
    • 84 Posts
    • 52 Thanks
    molly57.
    welshmoneylover


    I think you are on the wrong post.


    TSB offers bank switchers free £125, £5/mth cashback AND 3% interest - This one does not require 20 transactions a month. This one only needs £100 contactless spend per month.
    • No.72
    • By No.72 18th Apr 17, 8:04 PM
    • 1 Posts
    • 0 Thanks
    No.72
    I'd like to try and get in on some of these current account switches offering financial indentures but I'm currently with First Direct and very much using my overdraft (£500 max) on a monthly basis. Is there anything to be gained by switching or by needing an overdraft do I limit where I can move (or am I already in the best place?!) just wondered if by organising direct debits between accounts, i could have my cake and eat it (and ultimately not rely on an overdraft with all the free £ i could get my hands on!)
    • grumbler
    • By grumbler 18th Apr 17, 8:43 PM
    • 51,387 Posts
    • 21,753 Thanks
    grumbler
    If you are happy with FD, there is no point in switching for the sake of a bonus only. And it's recommended to have accounts with at least two different banks.
    For bonuses people usually switch not their main account. You can open it with the same FD or some other bank not offering a bonus.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • Consumerist
    • By Consumerist 18th Apr 17, 9:22 PM
    • 4,565 Posts
    • 2,249 Thanks
    Consumerist
    As above . . . but do remember that each new account you open will put a search on your credit file and each that you switch will put another - so if you want to do this multiple times it might be a good idea to space out the applications.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • reub075
    • By reub075 25th Apr 17, 11:33 AM
    • 2 Posts
    • 0 Thanks
    reub075
    Hello,
    Long-time reader but first-time poster – apologies for the lengthy post.
    I thought I’d add my experiences of this (now expired) TSB switching offer for £125 + up to £5 contactless cashback per month + 3% interest up to £1500.
    I had an existing TSB Classic Plus Account (opened in Nov 2014 without any switching bonus) on which the contactless cashback expired in Dec 2016.
    At the end of Jan 2017, I had applied for a Bank of Scotland current account (I already had an account with them) as a donor account, setting up an SO to meet minimum monthly pay-in and set-up two DDs – one to a credit card and one to a Tesco Internet Saver – thanks MSE forum dwellers!
    I phoned up TSB CS on 02 Feb 2017 to downgrade the existing TSB account from Classic Plus to Classic. I was initially met with bemusement as to why I wished to do so, but explained that the cashback feature on the account was the most useful aspect, and because of the credit interest reduction from 5% to 3% I wanted to make use of a more rewarding account that I had available. The CS checked with supervisor and got authorisation that the downgrade was allowed. This took less than 24 hours to be completed.
    On 06 Feb 2017, I applied online for a new TSB Classic Plus Account using the MSE link which was approved and appeared in my TSB online banking account summary within 2 hours.
    The new TSB card arrived within a week and I was able to transfer in funds and make use of the contactless cashback features, although I noticed that the contactless payment was declined every 5 or so transactions – after checking with TSB CS I was informed that this was to prevent fraudulent use of contactless, that I would either have to make a cash withdrawal or a chip+pin purchase transaction to permit contactless to work again. I saw this discussed on another topic on this board.
    On 27 Feb 2017, I applied to switch my Bank of Scotland current account to the new TSB Classic Plus Account using CASS, specifying a switch date of 27 March 2017. This was to allow the DDs to execute on the donor account a few times before switch completion.
    The switch went through as planned on the specified date, and on 24 April I got my £125 switching bonus/reward. I plan to wait a month and see if I can “upgrade” my original TSB Classic account back to a TSB Classic Plus Account, and ideally have two accounts paying 3% monthly interest as opposed to just the one.
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