Extending TSB 5% contactless cashback until September

mt99

Rang TSB this morning who said I could go into a branch and downgrade my exiting Classic Plus account to a Classic account and then open a new Classic Plus account and get contactless cashback until September. They can't do the downgrade over the phone.

An alternative would be to close the existing account (they can do it on the phone) and then apply by phone or online for a new one. I am doing the downgrade as I am not sure all my December cashback has been paid so don't want to risk closing the account and the cashback going missing. Hence a branch visit is needed.

mt99

I have been into the branch and downgraded my classic Plus account to a classic account they say I can close it if I wish after the 20th of Jan when all cash back from December could have been paid in.

the new classic plus account is now open and I have 5% contactless cash back until September they said not to forget to put paperless statements and correspondence on the new account in order to get the interest.

My new contactless debit card will take about 4 days to arrive they say

pmjenkins

For those of us lucky enough to already have two TSB Classic Plus accounts there's no point in closing the existing accounts simply to open a single new account for the cashback benefit.

The two existing accounts fully funded with £1,500 will earn £90 in interest over the next 12 months.

A single new account would earn £45. The maximum cashback you could earn over the next nine months is an additional £45.

mt99

good point!

Norscbu

pmjenkins wrote: »

For those of us lucky enough to already have two TSB Classic Plus accounts there's no point in closing the existing accounts simply to open a single new account for the cashback benefit.

The two existing accounts fully funded with £1,500 will earn £90 in interest over the next 12 months.

A single new account would earn £45. The maximum cashback you could earn over the next nine months is an additional £45.

That's assuming you have no other options for storing 1500 @ 3% of course

pmjenkins

Norscbu wrote: »

That's assuming you have no other options for storing 1500 @ 3% of course

Fair point.