TSB Activation Code/Interest

MandeepDhesi

Good Morning,

I have recently set up three classic plus accounts (me/mum and dad) with TSB. In two (mine and my dads) I have added £2000, and topped up with £500.

1. However at the moment, I can't find the link to start a standing order out of TSB back into another (non-TSB) current account, Suggestions on the websites point to some kind of activation code that I have to wait for, which allows me to use all the online features/transfer functions. Does anybody know if this is correct? My dad is old-fashioned and he decided that he will move his £500 in and out manually instead.

2. I also changed my User ID on the same day, will that affect the activation code that they send? Will it invalidate/void the initial one they send?

3. Finally I understand the interest is paid monthly. Say I set up the account a few days ago and topped up the relevant funds and met the £500 rule. When should I expect the interest to enter my account, at the end or the month? or otherwise?

I am new to the forum by the way Many thanks in advance, please feel free to point out where I am wrong.

sheramber

AS far as I can remeber the validation code for setting up a standing order came byautomated phone call.This happened immediately so you need to be ready to receive it.

Don't know about the change of ID affecting things

Interest is paid to the 2 nd of the month.

You could always contact the help line.

letThemPlay

I believe there is an activation code that will be sent to you via post; that will allow you to unlock functions on the tsb site.

sheramber I think you are referring to the one off validation phone call that happens when you attempt to transfer money to a new payee account for the first time.

No idea about the change of Id.

Interest is paid on the second working day of the month.

MandeepDhesi

Thanks for the replies. Much appreciated, clears a few things up. I assume I have to wait till the top of next month for some interest.
Just have to wait on TSB now. Can't be doing with having to order another activation code as ive changed the IDs, but I suppose people have bigger problems relative to this little issue.

sheramber

I haven't transfered money to another account. Only set up a standing order.

MandeepDhesi

Yeah thats what I am trying to do. Sorry if that wasn't clear.

sheramber

It is while since I set mine up so my memory is a bit sketchy but I think you had to click on something - possibly view statemnet?- to get a link to set up a standing order. When I clicked on that I immediately got an automated telephone call witth the validation code to enter to proceed.

just found this in FAQ

To set up a standing order in Internet Banking, log in, go to the statement page for the account you want to set up a standing order from, select the Standing Orders and Direct Debits tab and follow the on-screen instructions.

If you need support please refer to the Help section displayed on the right hand side of all our Internet Banking pages.

MandeepDhesi

The activation codes came through the post today, I activated both accounts. The change of ID had no influence on the code. When I set up a standing order I was given a 4 digit validation code, my mobile phone rang and I was asked for the 4 digit validation code which I dialled in. Sorted. Now I hope to scoop up the interest.

Again thanks for your help, really appreciate it sheramber.

KGriff

My wife has just opened a TSB classic account and deposited max. £2000..

She has set up standing orders to fund/transfer out the usual £500 per month to keep in with the funding rules ... but does she need to set any direct debits up on the account to get her 5% interest or are the direct debits not necessary on this account to get the 5% ?

MandeepDhesi

Is it a classic plus account specifically?
And no not really so long as you shift the 500 you should be fine I assume. Also don't forget go choose paperless banking and paperless correspondence.

KGriff

MandeepDhesi,

Thanks, yes it's is the TSB classic 'plus' account, but my wife didn't opt to use the TSB account switching service, so we know that we lose the additional £100 that TSB offer.

We have set the account to paperless, but my wife was not sure if there were two direct debits needed to get the 5%.

The MSE website hints at the fact the direct debits are not required and when the account was opened the instructions were a little vague as to whether the direct debits were part of the £100 offer or part of the 5% interest requirement. Hence my question on the forum.

I think she chose the no overdraft option too.

Anyhow the wife activated the account and deposited her savings today and set up the £500 standing orders to and from her Santander account, now we have to wait and see if she gets the £6.52 per month. I assume that's from the account opening date, but I see some people here on the forum, have said everyone gets their interest on the 2nd of each month?..

The extra debit card may prove useful anyway, as a backup to her main account.

Thank you so much for your help and reply to our question. It is appreciated.