TSB 3 x 5% incentive returns, now £125

dyoung87

Sorry for posting possibly a silly question, newbie poster here.

Currently looking at opening this account along side a halifax rewards account. To gain the interest i have to credit the account with £500 PM. Is there anything stopping my withdrawing that £500 the following day? Once my account has reached £2,000.

blindman

dyoung87 wrote: »

Sorry for posting possibly a silly question, newbie poster here.

Currently looking at opening this account along side a halifax rewards account. To gain the interest i have to credit the account with £500 PM. Is there anything stopping my withdrawing that £500 the following day? Once my account has reached £2,000.

Nothing stopping you withdrawing it the following minute :cool:

With Fast payments it's now very easy to meet these credit requirements with a merry go round of the same money.

If you did not have the £500 in one lump sum you could input-say -£50 then withdraw it and repeat x 10

tsg20

Possibly stupid question; the T+Cs say:

"Credit at least £500 to your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits"

Is it OK if there are two direct debits on the existing account, or is this a sneaky way of demanding two *new* direct debits?

grumbler

Common sense says that it's the former as it makes no sense to expect from customers setting up new DDs after switching, but the only way to make sure is to seek a confirmation from the CS.

blindman

tsg20 wrote: »

Possibly stupid question; the T+Cs say:

"Credit at least £500 to your new TSB account within 28 days of the switch completing and register a minimum of 2 active Direct Debits"

Is it OK if there are two direct debits on the existing account, or is this a sneaky way of demanding two *new* direct debits?

It's the former

PeterOHanrahanrahan

Is there anything to lose as an existing customer with a Plus account (apart from a credit search) to close the existing account, then open a new one for the incentive and switch from elsewhere? Can't see how this would violate the incentive T&Cs.

fuzzyduck22

Another stupid question (sorry).

I have set up two small DDs with my 'donor' account. Today I got a welcome email from one saying that the first payment will be taken out at the end of November. I have 28 days to do the switch to get the incentive...will these DDs still count and be able to be moved over if they havent actually started yet?

djpailo

fuzzyduck22 wrote: »

Another stupid question (sorry).

I have set up two small DDs with my 'donor' account. Today I got a welcome email from one saying that the first payment will be taken out at the end of November. I have 28 days to do the switch to get the incentive...will these DDs still count and be able to be moved over if they havent actually started yet?

If you need to register a direct debit quickly, you could pay with Paypal for a few things.

fuzzyduck22

djpailo wrote: »

If you need to register a direct debit quickly, you could pay with Paypal for a few things.

How would that make a direct debit? Sorry if I'm being dumb

djpailo

fuzzyduck22 wrote: »

How would that make a direct debit? Sorry if I'm being dumb

I believe you set up a paypal account and during the process of attaching your debit card, you also set up a direct debit. I've not done this myself personally, but several users have told me you can set it up and it is also mentioned in this thread:
https://forums.moneysavingexpert.com/discussion/5126573

https://www.paypal-community.com/t5/Adding-and-withdrawing-money/Setting-up-Direct-debit/td-p/409031