New TSB Classic Plus offer (new customers only...)

KTF

bjbyorkshire wrote: »

My question is.... can I keep the old classic plus that is already running at 3% but without d/d's and still start a new monthly saver?

Yes you can.

AirlieBird

bjbyorkshire wrote: »

I read that the new Classic Plus needs 2 d/d's but I really don't have any to add to this account. My question is.... can I keep the old classic plus that is already running at 3% but without d/d's and still start a new monthly saver?

There is no requirement to have 2 d/ds for the latest offer. The 2 d/d is only required to receive the £5 cashback.

teddysmum

The £5 for using a debit card 20 times per month is not as good as the £5 on a contactless card £100 spend, as you can do just 4 transactions to earn using the latter and 20 uses is rather a lot (for us, anyway) and a pest to keep track of.


19 transactions and you get nothing but if you don't spend a whole £100 via contactless you do get 5% of what you do spend.

EarthBoy

teddysmum wrote: »

The £5 for using a debit card 20 times per month is not as good as the £5 on a contactless card £100 spend, as you can do just 4 transactions to earn using the latter and 20 uses is rather a lot (for us, anyway) and a pest to keep track of.


19 transactions and you get nothing but if you don't spend a whole £100 via contactless you do get 5% of what you do spend.

This sounds like a way of weeding out the customers who only use the debit card the minimum number of times needed to get the cashback payment and use some other bank account the rest of the time. They don't want those customers. They want customers who the Classic Plus as their main account and make all, or most, of their debit card payments through it.

northwalesd

teddysmum wrote: »

20 uses is rather a lot (for us, anyway) and a pest to keep track of.

Pretty sure I don't make 20 transactions across all the cards I have, both credit and debit :eek:

Jo_Blogs

Ashen wrote: »

Seems like TSB have a new offer only for new Classic Plus customers (excludes previous customers too!)

• £5 cashback every month just for having two direct debits per month.
• Plus another £5 cashback every month if you spend with your debit card 20 times a month.
• For accounts opened on or after 1 March 2017 only. Offer ends 30 June 2018.

http://www.tsb.co.uk/classic-plus-cashback-terms-conditions.pdf

Not exactly encouraging loyalty - that said, I guess if it's viewed as an equivalent to a switching bonus (and if they do end it in June 2018) then it's not so bad - although it still means existing customers can't get it.

With the way that the T&C's were and the recent stampede for the switching bonus, is it really any wonder that TSB have tightened up their requirements for account openings and usage? I think not...........

Morphboy

My wife and I have two separate accounts under the old classic plus. These accounts are now for all intents and purposes dormant........ just being fed minimum payments each month then that money going straight out further down the food chain.

I'm just wondering can a joint bank account 'entity' be classed as a new customer for the purposes of the new deal. I can't personally find anything to say it can't. Just wondered if anyone had tried this.

EarthBoy

Morphboy wrote: »

I'm just wondering can a joint bank account 'entity' be classed as a new customer for the purposes of the new deal. I can't personally find anything to say it can't. Just wondered if anyone had tried this.

Joint account holders aren't a single entity, they are two separate entities sharing an account jointly.

Having said that you should be able to apply for a joint account under the deal because TSB's website says:

The Classic Plus account is restricted to one account in your sole name, and another Plus account in joint names

http://www.tsb.co.uk/current-accounts/classic-plus-account/

eskbanker

EarthBoy wrote: »

Joint account holders aren't a single entity, they are two separate entities sharing an account jointly.

Having said that you should be able to apply for a joint account under the deal because TSB's website says:

The Classic Plus account is restricted to one account in your sole name, and another Plus account in joint names

http://www.tsb.co.uk/current-accounts/classic-plus-account/

But surely Morphboy's issue is that he can indeed open a joint Plus account (under those standard Plus Ts & Cs) but it won't be eligible for the new cashback deal as both parties already hold Plus accounts, thereby disqualifying both of them from access to the new deal?

teddysmum

The only way to find out for sure is to call them or go into a branch.