TSB Switch Direct Debits

Samsung_Note2

Ive just applied and was accepted straight away (quite shocked as hammerd nearly all bank switches and few credit cards last few months).

Question is regards the 2 active Direct Debits..does anyone know if active means claimed/payed or active as in live (yet to be claimed).

Have done a search but couldn't find the answer.

surreysaver

I haven't read the T&Cs, but assuming that what you've written is the same wording as they use, then 'active' means live - i.e. they don't have to be paid every month - just once a year will do.

Samsung_Note2

surreysaver wrote: »

I haven't read the T&Cs, but assuming that what you've written is the same wording as they use, then 'active' means live - i.e. they don't have to be paid every month - just once a year will do.

Yes thats the TSB wording...active to me is being paid out,however just checked with TSB and chap said you dont need DD for the switch,just the £5 monthly bonus.?

As DD have just been set up and wont come out until around switch date just wanted to clarify..is active a live DD or that of one that has money previous drawn from.

clivep

Samsung_Note2 wrote: »

As DD have just been set up and wont come out until around switch date just wanted to clarify..is active a live DD or that of one that has money previous drawn from.

From MSE Best Bank Accounts page:
"Some switching bonuses or perks require 'active' direct debits. What does this mean?
An active direct debit is one that has paid out in the last 13 months, or – if it has never paid out – is less than 13 months old.

Direct debits have this dormancy rule in place, so old direct debits can remain active even if you're not paying out on them every month in case they're needed again, or they're there for annual payments. But, after 13 months, your bank may remove them from your account, or mark them as inactive".