MSE News: Earn 5% interest and a free £100 on top

colsten

rapider wrote: »

but I dont understand the column "Min standing orders/direct debits"

it tells you if you need any SOs or DDs but it isn't reliable information. You must refer to the T&Cs of the bank.

rapider wrote: »

also I don't understand what do I have to do

it's not hard really, and there is tons of information about current account switching on the web. E.g. http://www.which.co.uk/money/bank-accounts/guides/switching-your-bank-account/how-to-switch-your-bank-account-/

rapider wrote: »

or they don't allow me to have any other account?

no bank, or anyone else, can tell you that you cannot have a current account with one or more other banks

rapider wrote: »

or they want me to transfer a loan or a credit card to them to get the offer?

read the T&Cs, they will tell you what is required. It's tiring to tell you again and again that you do need to read the T&Cs.

colsten

Biggles wrote: »

So....

I have a Classic Plus already, for the 5%. I can't apply for a second sole account?

But if I click on 'Switch your account now', and I have a 'donor' account, I can 'switch' it to my existing Classic Plus and gain the £100?

You can try, but I think you would almost certainly fall foul of clause 1 in the switching terms.

saintalan

rapider wrote: »

plus, what do they mean 6% to linked savings?
I have a 100k savings, will they give me 6%?

Think he may be on a wind up as he doesnt want to pay tax either
https://forums.moneysavingexpert.com/discussion/5260188

colsten

rapider wrote: »

[/B]plus, TC is a whole booklet, with tons of irrelevant things, I need only the basic bullet points!

Nothing in the T&Cs is irrelevant as each and every single clause does apply to your account.

The TSB terms are very easy to read and understand. I bet you haven't even tried to find them but if you can be bothered, they are on their website.

rapider wrote: »

plus, what do they mean 6% to linked savings?
I have a 100k savings, will they give me 6%?

again, you do need to read the relevant terms. Don't get too excited, nobody will give you 6% for £100K these days but there are some nice regular savings accounts with 6% AER.

NB, I don't think any write-up uses the words "6% to linked savings" as they don't make much sense.

jimjames

rapider wrote: »

the link you posted me says what I am talking about and I don't rely to TC: misunderstanding banking jargon
plus, TC is a whole booklet, with tons of irrelevant things, I need only the basic bullet points!

There's a really useful tool called Google. When you don't understand things you can use it to find out information about them that explains it.

badger09

saintalan wrote: »

Think he may be on a wind up as he doesnt want to pay tax either
https://forums.moneysavingexpert.com/discussion/5260188

I decided that yesterday afternoon but decided to post the relevant links, just in case :cool:

However, I'm now convinced that you're all wasting your time .

Biggles

colsten wrote: »

You can try, but I think you would almost certainly fall foul of clause 1 in the switching terms.

Ah yes, I can switch no problem via their online banking. But to get the £100 I would need to 1) open a new account and 2) do it via MSE.

OK, I have now successfully opened a second Classic Plus, and it's showing as such on my online banking already.

The only thing as that at no point during this process did it mention the £100 bonus. I used the link from MSE.

And, though they are both listed as Classic Plus, when I click on 'Interest rates', the summary says beneath where it says 5%, 'Customers are limited to one Classic Plus account'.

So I imagine it will eventually be downgraded; but I'll wait and see!

Mosler

If someone has 2 accounts couldn't they close one, and then open a new one?

inspireme247

Mosler wrote: »

If someone has 2 accounts couldn't they close one, and then open a new one?

https://forums.moneysavingexpert.com/discussion/5258210

derrick wrote: »

Just logged in to my account and the PLUS has been removed, it is now just the CLASSIC.

ETA:
Set up a new PLUS account and it is up and running, switch set in place to complete 23-06-15.

.

Yorkshire_Pud

Mosler wrote: »

If someone has 2 accounts couldn't they close one, and then open a new one?

Was wondering this myself, however I think as the current limit is one Plus account these rules apply today so you would have to close both accounts and only be allowed to open one new one.