MSE News: TSB offers bank switchers free £125, £5/mth cashback AND 3% interest

Former_MSE_Rosie
Former_MSE_Rosie Posts: 105 Forumite
I've been Money Tipped! Newshound! Best Buy Bear
edited 23 January 2017 at 2:58PM in Budgeting & bank accounts
High street bank TSB has relaunched its free £125 offer for switching to its Classic Plus current account. Here's what you get and how it compares to other top pick bank switch incentives....
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'TSB offers bank switchers free £125, £5/mth cashback AND 3% interest'
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Comments

  • michaels
    michaels Posts: 27,993 Forumite
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    Is tis for new accounts only or can existing account holders get the bonus by switching a main account?

    How about joint accounts?
    I think....
  • grumbler
    grumbler Posts: 58,629 Forumite
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    edited 23 January 2017 at 2:26PM
    michaels wrote: »
    Is tis for new accounts only or can existing account holders get the bonus by switching a main account?

    How about joint accounts?

    • You cannot switch your joint account to TSB under this offer
    • ...
    • You are not eligible for this offer if you have previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service.
    • You are not eligible for this offer if you already have a Classic Plus account in your sole name.
    And as it has to be done via the link, upgrading an existing account to Classic Plus obviously doesn't qualify.
  • phillw
    phillw Posts: 5,593 Forumite
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    grumbler wrote: »
    And as it has to be done via the link, upgrading an existing account to Classic Plus obviously doesn't qualify.

    You can also only have one now & will therefore have to close all accounts to switch, although if the interest rate is staying at 3% then I'm not sure how!much point there is in having two of the existing ones.

    You'd need to check whether you'd be entitled to it if you closed them now and switched another account in before the deal finishes.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    phillw wrote: »
    . . . although if the interest rate is staying at 3% then I'm not sure how!much point there is in having two of the existing ones. . .
    Er . . . twice as much interest.

    If you have more than one sole account, however, their new Ts&Cs provide for them to convert the excess number to another type of account (at lower interest).
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • FOREVER21
    FOREVER21 Posts: 1,729 Forumite
    Energy Saving Champion I've been Money Tipped!
    I suspect this is a direct result of TSB lowering their interest rate at the beginning of this year on their, existing current accounts together with their " threat" to close individuals second accounts.

    They must have lost a number of customers.
  • zak2012
    zak2012 Posts: 326 Forumite
    I just applied for this account and been accepted , But i made mistake, after clicking on your link i forgot to click on "accept cookies" on TSB webiste,and i just clicked apply,,,,on thier webiste it says to get £125 you need to click accept cookies,,, is that mean i dont get any £125 bounes now???

    :(
  • grumbler
    grumbler Posts: 58,629 Forumite
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    zak2012 wrote: »
    ... i forgot to click on "accept cookies" on TSB webiste,and i just clicked apply,,,,
    Was there anything to click? Are cookies disallowed in your browser?
  • JuicyJesus
    JuicyJesus Posts: 3,830 Forumite
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    Would have probably switched my joint account. Can't switch joint accounts and benefit from the offer. Won't switch my joint account.

    Boo, hiss.
    urs sinserly,
    ~~joosy jeezus~~
  • I currently have a TSB Classic Plus account but didn't switch or receive any incentive, as there was no switch offer available at the time I opened the account. By my reading of this offer, I could close it, then open and switch to a new one, and I'd get this incentive. Am I missing anything? I suppose I take the risk that my application for a new account is rejected, but that wouldn't be the end of the world to me as I have 'space' in other 3% accounts at the moment.
    2018 wins: Aspinal of London jewellery box, Boudavida gym outfit, HP Pavilion laptop, The List party tickets, All Points East festival tickets, Kiehls moisturiser, By Terry cc serum, Nars Liquid Bronzer, Benefit highlighter, Nars illuminator, Fresh advanced lip trio set, Cetaphil sample set, signed copy of My Absolute Darling by Gabriel Tallent
  • grumbler
    grumbler Posts: 58,629 Forumite
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    edited 24 January 2017 at 11:22PM
    JuicyJesus wrote: »
    Would have probably switched my joint account. Can't switch joint accounts and benefit from the offer. Won't switch my joint account.

    Boo, hiss.
    Change it to sole.
    Switch.
    Change it to joint.
This discussion has been closed.
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