TSB Classic Plus account

Alex32

Hi there,
Having read the T&C, it mentions nothing about putting in the required £500 a month and then withdrawing it nor transfers between other TSB accounts​.

I would just like to know if anyone has any problems running the account this way?
Thanks

badger09

Alex32 wrote: »

Hi there,
Having read the T&C, it mentions nothing about putting in the required £500 a month and then withdrawing it nor transfers between other TSB accounts​.

I would just like to know if anyone has any problems running the account this way?
Thanks

The T&C definitely does 'mention putting in the £500 a month':cool: but as this is a current account, you are able to withdraw as and when you wish.

T&C don't explicity prohibit transfers between TSB accounts from meeting the monthly funding requirement. What isn't specified in T&C is as important as what is

ManAtHome

I have 2 Classic Plus accounts - put £500 a month into the first one from an external account, then move that to the second accound, then most of it out. Have been credited same interest on both since opening, probably couple of years ago.

Alex32

badger09 wrote: »

The T&C definitely does 'mention putting in the £500 a month':cool: but as this is a current account, you are able to withdraw as and when you wish.

T&C don't explicity prohibit transfers between TSB accounts from meeting the monthly funding requirement. What isn't specified in T&C is as important as what is

Just want to state I know the £500 a month is definitely required. I was asking about the depositing & withdrawing in which you did answer, thanks for that.

dggar

ManAtHome wrote: »

I have 2 Classic Plus accounts - put £500 a month into the first one from an external account, then move that to the second accound, then most of it out. Have been credited same interest on both since opening, probably couple of years ago.

I too have 2 accounts and move £500 between them via SO on the same day of the month. Been doing this since the accounts first became available.

teddysmum

I originally did transfers between accounts with them, but on opening Nationwide ones which don't count internal transfers,now use the accounts to to-and-fro with Nationwide.

Sponge_Cake

How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?

badger09

Sponge_Cake wrote: »

How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?

Which 'incentive' are you asking about?

Sponge_Cake

I was meaning the £130 for opening account and meeting T&Cs.

Sponge_Cake

badger09 wrote: »

Which 'incentive' are you asking about?

I was meaning the £130 for opening account and meeting T&Cs.

badger09

Sponge_Cake wrote: »

How about if you open the account with £500 or more? Does this automatically qualify you for the incentive or does it need to be transferred from another source?

badger09 wrote: »

Which 'incentive' are you asking about?

Sponge_Cake wrote: »

I was meaning the £130 for opening account and meeting T&Cs.

In case you haven't kept a copy:cool:, here are the T&C

http://www.tsb.co.uk/cashback-money-supermarket-termsandconditions.pdf

They state you must pay in at least £500 within 28 days of the switch completing. You could argue that some of those 28 days were before the switch completed:cool:, but I wouldn't risk it.

Just pay in at least £500 as soon as the switch is completed.