TSB Switch - Need to close existing account?

JamieB2

Hi all

I'm looking at taking up TSB on their switching offer and noticed this in the eligibility requirements:

"As part of the switch, transfer all active credits and debits which must include a minimum of
2 active Direct Debits from your old account and close it."

Does this mean I have to close the old account to qualify for the bonus? Would TSB even know if I've closed this account or not?

** This actually doesn't matter now as after further research I've decided I'd like to close the account. It seems I can't delete the thread though **

TheBanker

In case anyone else is wondering - yes you do have to close the old account. You request closure through TSB as part of the switching service which is how they know.

CLAPTON

JamieB2 wrote: »

Hi all

I'm looking at taking up TSB on their switching offer and noticed this in the eligibility requirements:

"As part of the switch, transfer all active credits and debits which must include a minimum of
2 active Direct Debits from your old account and close it."

Does this mean I have to close the old account to qualify for the bonus? Would TSB even know if I've closed this account or not?

** This actually doesn't matter now as after further research I've decided I'd like to close the account. It seems I can't delete the thread though **

basically, its the difference between 'switching' and simply opening a new bank acccount
the closure of the account is done by the TSB as part of its switching process

agrinnall

Whatever you do, don't close the old account yourself. If you do that then the switch will fail. Closure takes place as a key part of the switch process.