TSB Classic Plus Accounts. How many can you have?

welshmike_2

The subject account pays 5% interest on balances up to £2000. AFAIK you do not have to switch your current bank account or have any Standing Orders or Direct Debits and the only requirement is to pay in £500 every month.
So I wonder if it is possible to have more than one TSB Classic Plus Account?

bsms1147

If you're signing up for your first now, the current terms and conditions allow for one sole and one joint.

Previous terms and conditions allowed for two sole and two joint. If you applied for your first account before mid-October, you can still open the extra accounts under the old terms and conditions until the end of this month. If you apply for your first now, it might be possible to open the extra ones until the end of the month.

The T&Cs do make a fascinating read though, for this or for any other product you may be interested in.

welshmike_2

bsms1147,

Thanks for your prompt post.
I was surprised this week that I received two letters from TSB for the debit card PINs for two different accounts.
Silly me because I had forgotten that I had applied for two accounts, one sole account in my name and a second one, initially sole in my name, with the intent of making it a joint account with my wife.
AIUI from a phonecall to TSB my wife has to visit my allocated local branch so that the second account can become joint.
IMO that seems to be a bit OTT and time wasting and could/should be done online.

bsms1147

Take the opportunity to keep the sole one as a sole one and you can end up with one additional TSB plus account.

welshmike_2

I have already funded the first and sole account but as I may have already stated I have been told by TSB that my wife still has to visit my local TSB branch so that the second account can be made joint.
I notice that I can view both accounts online and wonder if I funded the second to be become joint account that the transaction would be accepted and interest would accrue immediately.
(Reminder to self: phone TSB again?)

Archi_Bald

welshmike wrote: »

......wonder if I funded the second to be become joint account ......

how would you do that?

Your account will stay a sole account unless TSB make it a joint account upon your request. You have to both visit a Branch to apply for a joint account, as you have been told already. http://www.tsb.co.uk/current-accounts/joint-accounts/

nearlyretired2004

I thought you had to go into branch to open these as well but I've just been told on the phone by the nice lady at TSB that you CAN open them by phone.


(In fact we are going into branch anyway because we want to open two and on the phone they can only do one a day and that will generate two credit checks..... in branch you can open two with one check)


Edit: maybe its because we both already have sole accounts?

LunaNytshade

I've just got off the phone from opening my second TSB account, and I was told that you could have two sole and two joint accounts as long as you opened your first account before the 13th of October last year.

Sounds like you could just keep the two you have as they are and open a new joint one with your partner.

YorkshireBoy

LunaNytshade wrote: »

I've just got off the phone from opening my second TSB account, and I was told that you could have two sole and two joint accounts as long as you opened your first account before the 13th of October last year.

Sounds like you could just keep the two you have as they are and open a new joint one with your partner.

According to an MSE article that's true, but the joint(s) would need to both be open by close of business tomorrow...

How many accounts can I open?


If you opened a TSB Classic Plus account before 13 October 2014, you can open four accounts - two single and two joint. You'll have until end of January 2015 to open the remaining accounts. If you open this account after 13 October you can only open a maximum of two - one single and one joint. See TSB Classic Plus news story for more details.


http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#tsb

LunaNytshade

Very true.

At least you can also apply online and by phone. I opened my first account online around 8 at night and it confirmed and checked pretty quickly. The website also says that the weekday phoneline is open till 9pm.

I think the option is still open with willpower and a pair of roller skates

YorkshireBoy

LunaNytshade wrote: »

At least you can also apply online

For a joint account?