TSB Monthly Saver

[Deleted User]

I've opened today, online, a TSB Monthly Saver account, secondary to a TSB Classic Plus current account opened online last week. I have been accepted for both, have debit card for the current account (still waiting for PIN) and access to Internet banking (both accounts showing). I have funded the Classic Plus with £2k by online transfer from other accounts. Very slick opening procedures (in sharp contrast to recent HSBC experience).

I have a question though about the Monthly Saver. It must be funded by a monthly standing order of between £25 and £250 (first payment within 30 days of opening). No other credits are accepted. I have set up a monthly SO on another (non TSB) account, to fund the Monthly Saver. First payment due on 25 February. Is this okay, or does the SO have to be on the TSB Classic Plus current account? I ask, because SO's come through to the receiving bank as Faster Payments, so how does TSB know that it is a standing order payment? The terms and conditions aren't specific on the point. They just say that the SO must NOT be from another TSB SAVINGS account.

Thanks for any help.

classy69

My TSB monthly standing order is funded by Santander, so I think you will be ok.

[Deleted User]

Thanks classy, v helpful

molerat

If you are really clever you will re-date the SO for 1st starting next month thus getting 13 payments into the account

[Deleted User]

Cheers molerat, very helpful.