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  • FIRST POST
    • Alex32
    • By Alex32 12th Jun 17, 3:30 AM
    • 18Posts
    • 0Thanks
    Alex32
    TSB Classic Plus account
    • #1
    • 12th Jun 17, 3:30 AM
    TSB Classic Plus account 12th Jun 17 at 3:30 AM
    Hi there,
    Having read the T&C, it mentions nothing about putting in the required £500 a month and then withdrawing it nor transfers between other TSB accounts​.

    I would just like to know if anyone has any problems running the account this way?
    Thanks
Page 1
    • badger09
    • By badger09 12th Jun 17, 10:09 AM
    • 5,090 Posts
    • 4,286 Thanks
    badger09
    • #2
    • 12th Jun 17, 10:09 AM
    • #2
    • 12th Jun 17, 10:09 AM
    Hi there,
    Having read the T&C, it mentions nothing about putting in the required £500 a month and then withdrawing it nor transfers between other TSB accounts​.

    I would just like to know if anyone has any problems running the account this way?
    Thanks
    Originally posted by Alex32
    The T&C definitely does 'mention putting in the £500 a month' but as this is a current account, you are able to withdraw as and when you wish.

    T&C don't explicity prohibit transfers between TSB accounts from meeting the monthly funding requirement. What isn't specified in T&C is as important as what is
    • ManAtHome
    • By ManAtHome 12th Jun 17, 11:08 AM
    • 8,139 Posts
    • 5,275 Thanks
    ManAtHome
    • #3
    • 12th Jun 17, 11:08 AM
    • #3
    • 12th Jun 17, 11:08 AM
    I have 2 Classic Plus accounts - put £500 a month into the first one from an external account, then move that to the second accound, then most of it out. Have been credited same interest on both since opening, probably couple of years ago.
    • Alex32
    • By Alex32 12th Jun 17, 1:07 PM
    • 18 Posts
    • 0 Thanks
    Alex32
    • #4
    • 12th Jun 17, 1:07 PM
    • #4
    • 12th Jun 17, 1:07 PM
    The T&C definitely does 'mention putting in the £500 a month' but as this is a current account, you are able to withdraw as and when you wish.

    T&C don't explicity prohibit transfers between TSB accounts from meeting the monthly funding requirement. What isn't specified in T&C is as important as what is
    Originally posted by badger09
    Just want to state I know the £500 a month is definitely required. I was asking about the depositing & withdrawing in which you did answer, thanks for that.
    • dggar
    • By dggar 12th Jun 17, 1:55 PM
    • 521 Posts
    • 260 Thanks
    dggar
    • #5
    • 12th Jun 17, 1:55 PM
    • #5
    • 12th Jun 17, 1:55 PM
    I have 2 Classic Plus accounts - put £500 a month into the first one from an external account, then move that to the second accound, then most of it out. Have been credited same interest on both since opening, probably couple of years ago.
    Originally posted by ManAtHome

    I too have 2 accounts and move £500 between them via SO on the same day of the month. Been doing this since the accounts first became available.
    • teddysmum
    • By teddysmum 12th Jun 17, 2:18 PM
    • 7,885 Posts
    • 4,697 Thanks
    teddysmum
    • #6
    • 12th Jun 17, 2:18 PM
    • #6
    • 12th Jun 17, 2:18 PM
    I originally did transfers between accounts with them, but on opening Nationwide ones which don't count internal transfers,now use the accounts to to-and-fro with Nationwide.
    • Sponge_Cake
    • By Sponge_Cake 12th Jun 17, 4:17 PM
    • 46 Posts
    • 3 Thanks
    Sponge_Cake
    • #7
    • 12th Jun 17, 4:17 PM
    • #7
    • 12th Jun 17, 4:17 PM
    How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?
    • badger09
    • By badger09 12th Jun 17, 4:21 PM
    • 5,090 Posts
    • 4,286 Thanks
    badger09
    • #8
    • 12th Jun 17, 4:21 PM
    • #8
    • 12th Jun 17, 4:21 PM
    How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?
    Originally posted by Sponge_Cake
    Which 'incentive' are you asking about?
    • Sponge_Cake
    • By Sponge_Cake 12th Jun 17, 4:49 PM
    • 46 Posts
    • 3 Thanks
    Sponge_Cake
    • #9
    • 12th Jun 17, 4:49 PM
    • #9
    • 12th Jun 17, 4:49 PM
    I was meaning the £130 for opening account and meeting T&Cs.
    • Sponge_Cake
    • By Sponge_Cake 12th Jun 17, 5:22 PM
    • 46 Posts
    • 3 Thanks
    Sponge_Cake
    Which 'incentive' are you asking about?
    Originally posted by badger09
    I was meaning the £130 for opening account and meeting T&Cs.
    • badger09
    • By badger09 12th Jun 17, 5:42 PM
    • 5,090 Posts
    • 4,286 Thanks
    badger09
    How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?
    Originally posted by Sponge_Cake
    Which 'incentive' are you asking about?
    Originally posted by badger09
    I was meaning the £130 for opening account and meeting T&Cs.
    Originally posted by Sponge_Cake
    In case you haven't kept a copy, here are the T&C

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

    They state you must pay in at least £500 within 28 days of the switch completing. You could argue that some of those 28 days were before the switch completed, but I wouldn't risk it.

    Just pay in at least £500 as soon as the switch is completed.
    • brixtonboy123
    • By brixtonboy123 15th Jun 17, 7:36 PM
    • 6 Posts
    • 1 Thanks
    brixtonboy123
    i did all of the above, switched and closed my old barclays account, set up 2 DDs and paid in £500. Do i need to pay in £500 each month to get the £130.
    cheers
    • YorkshireBoy
    • By YorkshireBoy 15th Jun 17, 10:18 PM
    • 29,205 Posts
    • 17,000 Thanks
    YorkshireBoy
    i did all of the above, switched and closed my old barclays account, set up 2 DDs and paid in £500. Do i need to pay in £500 each month to get the £130.
    cheers
    Originally posted by brixtonboy123
    If you did it in that order you won't be getting your £130 at all.

    You've asked this question on 3 separate TSB threads now without a reply. Maybe it's time to read the T&Cs? They're still available via the link you applied with. For ease though, maybe just click the link helpfully provided in the post immediately preceding yours?
    • Maximum Saving
    • By Maximum Saving 15th Jun 17, 10:29 PM
    • 169 Posts
    • 327 Thanks
    Maximum Saving
    I have a TSB Classic Plus Account. I used to love it's 5 percent interest on up to £2000. I used to have a TSB Regular Saver which gave me 5% interest. Now I can only get 3% interest up to £1500. I don't want to have the TSB Regular Saver anymore because it now pays 2% interest. I wish I could get rid of my TSB Classic Account and start if up again.
    • FUrake
    • By FUrake 16th Jun 17, 1:08 PM
    • 8 Posts
    • 0 Thanks
    FUrake
    ive just been looking at this offer now, you had to have 2 active direct debits on the account you were switching from to be eligible for the £130 free money, if you didnt have 2 direct debits on the account u switched dont think you will get the free money unfortunately
    • brixtonboy123
    • By brixtonboy123 18th Jun 17, 9:41 AM
    • 6 Posts
    • 1 Thanks
    brixtonboy123
    I had 2 active direct debits on my old account when i switched, i openednthe account via this site then followed theninstructions and switched i then paid in £500 within the first week. so i assume i did all that was asked. I have read the conditions and i am still not sure if i have to pay in £500 a month?
    a
    • YorkshireBoy
    • By YorkshireBoy 18th Jun 17, 10:12 AM
    • 29,205 Posts
    • 17,000 Thanks
    YorkshireBoy
    I had 2 active direct debits on my old account when i switched, i openednthe account via this site then followed theninstructions and switched i then paid in £500 within the first week. so i assume i did all that was asked. I have read the conditions and i am still not sure if i have to pay in £500 a month?
    a
    Originally posted by brixtonboy123
    As to whether you need to continue to pay in £500 each and every month going forward in order to get the £130 (your original question)...can you not see that you'll have your £130 long before any future monthly credits would be made.
    Last edited by YorkshireBoy; 18-06-2017 at 10:14 AM.
    • FUrake
    • By FUrake 18th Jun 17, 7:12 PM
    • 8 Posts
    • 0 Thanks
    FUrake
    thats a good question, doesnt seem to be 100% clear, do you have to wait until the accounts fully switched before paying in the £500 or can you pay in the £500 when you open the account and before the switch has occured?
    • badger09
    • By badger09 19th Jun 17, 11:45 AM
    • 5,090 Posts
    • 4,286 Thanks
    badger09
    thats a good question, doesnt seem to be 100% clear, do you have to wait until the accounts fully switched before paying in the £500 or can you pay in the £500 when you open the account and before the switch has occured?
    Originally posted by FUrake
    Exactly the same question was asked a few days ago. See my response in post 11 above.
    • brixtonboy123
    • By brixtonboy123 20th Jun 17, 9:22 AM
    • 6 Posts
    • 1 Thanks
    brixtonboy123
    I was confused because the £500 every month is what you need to pay in order to get the advertised interest rate. I think to get the £130 you need to open a new account, then switch along with 2 direct debits and then pay in £500 in the first 28 days.
    To get £5 a month cash back you need to use your debit card 20 times per month, to get the other £5 cash back you need two direct debits.
    So today is day 28 for me and i used my debit card more than 20 times in the last 28 days and i have 2 direct debits set up. When should i expect the cash?
    cheers
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