Transferred my TSB accounts to N/wide and transferred them back to TSB to get bonus

Kim_13

Mchambers wrote: »

Okay. If I don't get the £5 per month. We will see as/when the switch completes. If I don't get £5 each month, no worries as I will be in exactly the position that I was in a few weeks ago with 2 accounts earning 3% interest, except I will get a £130 bonus.

Nice and easy.

The terms and conditions now only allow one TSB Classic Plus earning 3%, unless the second is a joint account.

While there is a clause allowing them to convert one to another account at any time where a customer holds two, they are more likely to do this if you hold a legacy account (opened prior to the restriction to one account in a sole name per person) and manage to open a new one, as this is against the T's and C's that now operate.

Anyone wishing to retain two sole accounts should leave them well alone.

phillw

Mchambers wrote: »

no worries as I will be in exactly the position that I was in a few weeks ago with 2 accounts earning 3% interest, except I will get a £130 bonus.

Are the 2 accounts in your own name? They only allow 1 for new applicants.
I just wish I'd kept my tesco current account open...

clivep

Kim_13 wrote: »

The £5 per month is limited to customers who haven't held a Classic Plus account with them before 1st March 2017, so it sounds as though that would exclude you. See here: https://www.tsb.co.uk/cashback-terms-and-conditions.pdf

You would get the 3% interest only, and it is not guaranteed that TSB would accept you again. Do you have an account elsewhere that you don't want/need/use that you could switch instead?

But were they Classic Plus accounts that were closed? If so were they originally opened before or after 1st March 2017?

clivep

phillw wrote: »

Are the 2 accounts in your own name? They only allow 1 for new applicants.
I just wish I'd kept my tesco current account open...

I note the MSE bank accounts page is still showing "If you have more than one account, you can get the cashback on both, provided you meet the criteria on each account, but you can only get one switching bonus".

Also be aware that you can only get the £5/month DD cashback if the DDs are for different companies (this condition doesn't seem to apply to the switching bonus)...
"3.2 The 2 Direct Debit payments each month must be made to different companies".

Mchambers

Created my second TSB account without any probs. Got sort code and account number for it. Switched my 2nd account over to TSB as well without any probs. Wait and see what happens now. I have also complained to TSB during the 2nd switch.