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

bigadaj

Think you need the dds on the account to be switched to qualify for the offer. Easy enough to set up on a certain supermarkets online savings account.

Amazing contrast between HSBC and other banks, six weeks to open the former, TSB and Santander set up in minutes.

Santander everydays are very useful, have now transferred more than one.

Interesting bonus is apply for your everyday account through imutual, and there's an additional £31 on offer. I received this on one account, followed the same process for the latest one and its tracked, have to wait until April to see if they actually payout but who dares profits.

schiff

There's plenty of time between opening the TSB account and starting the switching process.

Is it really as simple as closing your TSB Classic account tomorrow and opening a fresh one on Friday?

I'll look into the imutual link, I use TCB a lot but I've never heard of these. TY

bigadaj

schiff wrote: »

There's plenty of time between opening the TSB account and starting the switching process.

Is it really as simple as closing your TSB Classic account tomorrow and opening a fresh one on Friday?

I'll look into the imutual link, I use TCB a lot but I've never heard of these. TY

I closed my classic plus just before the new offer came out, so probably just under a week between closing and opening a new one. Funded the new one and got £0.31 interest for January for the one day and am accruing contactless cashback again.

I actually switched the Santander account before being credited with the opening incentive, but it did get paid a couple of weeks later and withdraw it to my current account, well one of them.

I've also got all of those shares in imutual as well, this time next year we'll be millionaires with those rodders!

schiff

Opening the new Santander Everyday account via imutual, having a few hundred pounds in it for a few weeks and not much else other than two small DDs and then switching it to TSB is not going to seem very fair for the cash-back surely. Is it?

Though it is, to be fair, very Martin Lewis!

puzl

Hi guys, is there a minimum period you need to keep a bank open after receiving their cashback incentive, before you switch again?

I got my co-op switch bonus a few months back, after opening it in late October. I'd like to use that account to switch to TSB to get their cash bonus, so would I be OK, or do people suggest waiting longer before switching again?

grumbler

>> Switching offer Terms and Conditions (co-op)

It's just one page.

puzl

grumbler wrote: »

>> Switching offer Terms and Conditions (co-op)

It's just one page.

Excellent, looks like I'm good to go!

budinn62

Hi


I've just switched to TSB but being a Norwich and Peterborough ex account holder we found they were not part of the switching service so I went into branch and me and the bank advisor amended direct debits on screen
I've just spoken to the TSB switching team and they advise I will not get the £125 as N&P were not on that service and several N&P customers have changed to TSB to now find out TSB is getting the business at no expense- Very misleading

schiff

In case it helps:

I saw something on the TSB website that seemed to suggest that if your balance in certain accounts was under £5, you could close it online. Reduced my balance by FP elsewhere to £1 (which turned out later to have been a good idea anyway!) but it doesn't work with the Classic Plus account.

The procedure in the branch was surprisingly straightforward. Handed over my debit card and asked for the account to be closed. Certain ID checks were made via the debit card which was then destroyed before my very eyes. I had taken other ID but it wasn't asked for. The balance in my account was paid to me in cash, making my earlier action a good idea. I assume if the balance is appreciable it means a cheque?

A letter from me wasn't needed as a document was printed off and presented to me to sign. I was then given the formal closure summary document letter which I would otherwise have had in the post.

Done and dusted.

michaels

I also closed mine in branch today - phoned to try and downgrade first - correct department only 9-5 mon-fri. Phoned again got correct department to be told can't close or downgrade so have to go to branch. Asked if needed appointment in branch to downgrade, told no. Went to branch, told couldn't downgrade without appointment so asked if I could close and could so did so.

Wondering whether to reapply tomorrow or Monday?