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

Edinns

Consumerist wrote: »

If I remember correctly, you set your communication preferences whilst logged-in online.

An ISA is a savings account - not a current account - only your current account will be closed if using the Switching Service.

You may need to make new payment arrangements for the ISA if you currently subscribe from the current account being closed.

Is there anyway to transfer over my ISA also?

Consumerist

Edinns wrote: »

Is there anyway to transfer over my ISA also?

Find then apply for the ISA you want to transfer to and then ask the new manager to transfer it for you. You usually have to complete an ISA transfer form which you can download from the new manager's website.
I'm not familiar with Help to Buy ISA rules but you should check these out on the <MSE main site> before transferring.

Molly4

Good Morning Everyone


Just thought I'd share my good news with you. I have now managed to resolve the "website error" I was getting in my applications and have successfully opened my new account with TSB. Just the switching process to get through before the 31st of March 2017. I did open a new account with my own bank and have set up two direct debits on that account. Just waiting for the direct debit recipients to take their first monies and then I will switch.


Good Luck to everyone else who were having problems.

Consumerist

molly57. wrote: »

Good Morning Everyone . . .

And a good afternoon to you. I hope you're getting some of the glorious sunshine we're getting in my part of the UK.

Sorry if this post is a tad off topic but couldn't resist.

Molly4

Good Afternoon Consumerist


Enjoy the sunshine. It is mild here but very cloudy and there is a dampness in the air. Spring is just around the corner.

schiff

I think we have to show from time to time that we are not automatons constantly chasing the odd 0.5% but normal nice human beings who do other things, like enjoying the weather, once we've lifted our eyes from the laptop to actually look out of the window of course.

It's either gently raining or the air's wet here; not been out yet but will have to go soon to get some provisions in to see me through the day

R2D6

Molly4

Hello


Another possible hiccup for me. I have now successfully opened this TSB account. I opened a new current account with my own bank the Halifax and have set up two direct debits on the new account. That way the new account will be closed when I switch it to TSB.


I've just been informed by one of my direct debit that they are not taking the first payment until 1st of April. I presumed the first payment would be 1st March. I expect the second direct debit will be the same.


Will this affect the switch the fact that no payment has been made to the direct debit recipients before the deadline for the switch? Only one of the direct debits is showing with the company name but no other details are present on the account yet. I did not think it would take this long.

grumbler

The deadline for switching is at the end of March, not Februaly.
IIRC, the T&C say 'active DDs' and say nothing about payments taken, i.e. the DD has to be set up before switching, not taken.

ETA: most likely it will be set up well before the 1st of April, but you can't be sure.

Molly4

The T&C's state


£125 cashback when you open a Classic Plus account between 23 January and 27 February and complete your switch to us by 31 March 2017.


To me that means the switch must be complete by the 31st of March 2017. As the switching process can take up to seven days then I would need to start the process by the 24th March. If they means seven bank working days then it would have to be a few days before the 24th. I know online banks are 24/7 but things still seem to refer to working days as Monday to Friday.

moneysavinggirl40

hi molly57, congratulations in sorting the error, did you end up phoning them to help you out?