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

grumbler

molly57. wrote: »

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.

Yes, as I said, you can't be sure.
You can keep checking online the DDs in your Halifax account, but it's worth thinking about some extra DD.

andybirch

My switch from TSB finished today. How soon can I apply for a new account?

bobB

I have an existing TSB Classic essentials account and tried to switch using this link but after it allowed me to open a new Classic plus account it would not allow me to switch to it. In the T/Cs it says you are not allowed to switch if you already have a Classic plus account and or have previously benefitted from switching to TSB but it does not state that if you have any other TSB accounts you cannot get the £125 and switch. I asked in my branch and they knew nothing about this.

grumbler

bobB wrote: »

I have an existing TSB Classic essentials account and tried to switch using this link but after it allowed me to open a new Classic plus account it would not allow me to switch to it.

How exactly would it not allow?
There is a link for switching in your online account. MSE link is important only for opening the account.

In the T/Cs it says you are not allowed to switch if you already have a Classic plus account

I don't think it really says this.

bobB

I used the link, filled in the details, the account was set up I then clicked on switch and it said it was not allowed as I already had a TSB account and so not entitled to the £125. I can use the account but I would have to arrange DD transfers myself. I phoned TSB and they confirmed I was not eligible. I now have a spare account I don't need.

grumbler

How can they "confirm" what is in fact incorrect?!

Quote the T&C and don't let them fob you off. If they keep doing this, take the name of the person and follow the formal complaint procedure.

And even if you allegedly weren't entitled to the bonus, this wouldn't explain why you can't switch.

As I said above, I used the link in my online account and requested switching later, not when opening the account.
You can try doing the same and complain later if it works and they deny you the bonus.

badger09

molly57. wrote: »

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.

molly77

Do you have a PayPal account?

If you do, you could set up a DD on the Halifax account (takes about 10 days) then use that DD to pull money into your PayPal account well before the end of March deadline.

If you don't have a PayPal account, you can set one up fairly quickly.

Molly4

Hello badger09


Yes I have a PayPal account and I have a direct debit already set up on my original Halifax Current Account.


Both the direct debits I set up on my new Halifax Account, the one that will be closed when I switch to TSB are showing on the account. Although all that shows is the recipient name and reference number. There is nothing listed yet for payment amount and frequency. I have had paperwork from one to say the 1st payment will be taken on 1st April.


As the terms and conditions state the direct debits have to be "active" and still "active" 28 days after the switch then I hope my two direct debits will be classed as active even though the first payment will not go to one recipient until after the switch.

Molly4

Hello moneysavinggirl140


I did not phone TSB in the end as I managed to resolve it myself.


My cookies were set to "medium" so I changed this to "allow all cookies" - This made no difference at all and I still got the error message. I waited a few days before completing the form again, got the same error message and then realised I had been clicking on "take me back to the homepage" button which obviously took me back to the home page and had tto start all over again. Instead I just back paged and was taken to another screen to complete more details and then when I submitted the form it went through. I then received an email saying "my application was being processed"


A few days later I received a confirmation email and text saying I had been accepted and that my "activation code" for internet banking would be sent in the post. Also my internet banking USER ID, Debit Card and Pin Number will also be posted to me. I am still waiting for those to arrive.


Hope you managed to sort things out as well.

schiff

I applied online via the MSE link, was accepted, deposited the same day to get the account started and the interest accruing, received my debit card in the post, followed by the PIN.

Changed my PIN successfully, made a small supermarket purchase aiming to use Chip and PIN as required, got PIN OK - then my purchase was blocked!

Phoned TSB from the supermarket car-park and they couldn't tell me why, except that I was obliged to go to a branch with ID. Couldn't believe it! I'd had a Classic Plus account and a regular saver that I had closed in the last week, they had gone so far as to issue everything I needed to operate the account. So why? Some suggestion that I had made two applications, which was news to me, and 'to be on the safe side in case someone was opening an account with my details' I needed to produce ID in person. Work out the logic in that.

So went to a branch, I don't have one too handy, and got it all sorted out. The debit card worked. I had made a formal complaint and got a phone call about it today. Some suggestion that closing my account and opening a new one seemed suspicious. Maybe everybody going the MSE route, having done what I've done, goes through this routine?