TSB charge for closing account

Alkyboy83

Hi,

Newbie here wonder if any1 can help

My mother in law went to use her new TSB card last night at a Barclays ATM for it to be rejected. She went to TSB and was told the card will only work in TSB ATM's from now on so she said she would transfer everything to her Halifax account and close TSB teller told her that was fine but it would cost £30 to do this and close it. Has any1 else seen or heard of this? Can she switch using the 7 day switching guarantee without a charge?

Thanks

Archi_Bald

That doesn't sound right.

What account does your MIL hold with TSB? For what reason was the card rejected in the ATM? Which TSB branch told her that there was a £30 charge for closing her account? What is her account balance (incl any outstanding charges)?

Your MIL can switch her current account using the current account switch guarantee and switching is free of charge for anyone. However, if there are any debts/outstanding charges on the account, they won't be transferred, and they won't be wiped out by a switch.

grumbler

For "transferring to her Halifax account" she doesn't need the "7 day switching" service. The teller probably meant the charge for an in-branch bank transfer.

She can do it for free via online banking or deposit a cheque/cash to her Halifax account.

BMN

Sounds like a bit of a misunderstanding here

I'm guessing she has a cash account (basic account) which only works with TSB cashpoints.

There is no specific fee to close the account
The £30 is for a CHAPS transfer (it's the only way to make electronic transfers to UK bank accounts in branch)

Alkyboy83

Thanks for the replies,

She has a TSB cash account and sounds like she must have misunderstood the TSB teller, makes more sense that it would be £30 to transfer in branch. Will get her set up for internet banking and transfer that way.

Thanks again for all the replies

zerog

BMN wrote: »

(it's the only way to make electronic transfers to UK bank accounts in branch)

Santander can do faster payments in branch, not tried others

System

Has she asked to be upgraded to the classic account?

It works in Lloyds, TSB, Halifax, BOS and Sainsbury's ATMs plus the Post Office counter. Once TSB is sold off then they will probably lift the ATM restriction anyway as their ATM network will be too small.

Otherwise, she might be eligible for the £100 if you switch her to Halifax rather than just transfer the cash and close the account. It will also redirect Direct Debits and credits automatically.

Alkyboy83 wrote: »

Thanks for the replies,

She has a TSB cash account and sounds like she must have misunderstood the TSB teller, makes more sense that it would be £30 to transfer in branch. Will get her set up for internet banking and transfer that way.

Thanks again for all the replies