nothing but interest from TSB

wallofbeans

Just figuring out which account to leave and I'm sure someone can answer this easily..

Why is my TSB Classic Plus account (opened a year ago I think) only giving me interest on £1500 in it, and not any contactless cashback or anything else?

They've moved the goalposts so much I can't remember what it was giving when I first opened it!

binaryuniverse

The cashback is a time limited offer. Interest is ongoing.

This would have been detailed in your T&Cs when you joined.

wallofbeans

binaryuniverse wrote: »

The cashback is a time limited offer. Interest is ongoing.

Ah. I thought it might be. Any idea how long it lasts? I can't find any info about the cashback in the T&C PDFs I have from when I opened the account.

wallofbeans

Does anyone know what I need to do to keep the 3% on £1500 going for this Classic Plus? I assume keep the minimum pay in ever month, but do I need direct debits?

If not, I'll use the ones I have attached to this account elsewhere..

binaryuniverse

wallofbeans wrote: »

Does anyone know what I need to do to keep the 3% on £1500 going for this Classic Plus? I assume keep the minimum pay in ever month, but do I need direct debits?

If not, I'll use the ones I have attached to this account elsewhere..

All TSB requires to get the interest is £500 paid in each month. Direct debits are not a requirement.

wallofbeans wrote: »

Ah. I thought it might be. Any idea how long it lasts? I can't find any info about the cashback in the T&C PDFs I have from when I opened the account.

No. Sorry.

badger09

wallofbeans wrote: »

Does anyone know what I need to do to keep the 3% on £1500 going for this Classic Plus? I assume keep the minimum pay in ever month, but do I need direct debits?

If not, I'll use the ones I have attached to this account elsewhere..

binaryuniverse wrote: »

All TSB requires to get the interest is £500 paid in each month. Direct debits are not a requirement.

That isn't all TSB requires:cool:

wallofbeans, may I suggest you read the T&Cs of the TSB Classic Plus account, so you don't miss out on 3% interest. They are very straightforward and can be found here.

https://www.tsb.co.uk/plusness/

binaryuniverse

badger09 wrote: »

That isn't all TSB requires:cool:

Ah yes. My apologies. Paperless correspondence is also required, and to log in to Internet Banking once a month. I do these anyway, so didn't think about it.

[Deleted User]

wallofbeans wrote: »

Does anyone know what I need to do to keep the 3% on £1500 going for this Classic Plus? I assume keep the minimum pay in ever month, but do I need direct debits?

If not, I'll use the ones I have attached to this account elsewhere..

You need to pay in at least £500 per calendar month for interest. No DD requirement for interest (just for DD cashback on eligible accounts).

wallofbeans

binaryuniverse wrote: »

Ah yes. My apologies. Paperless correspondence is also required, and to log in to Internet Banking once a month. I do these anyway, so didn't think about it.

Ah yes. I knew that. I do it anyway as well!

Kim_13

The first wave of contactless cashback lasted until 31st December 2016, as I recall. This was the one where existing customers could get it, rather than it being restricted to new accounts.

Accounts opened between 1 June 2016 and 28 February 2017 (It sounds as though this was yours, but you could look to see how far your statements go back to double check) got the cashback until 30 September 2017.

It is account openings from 1 March 2017 that can currently get the cashback, until June if opened before 8th January and until 31st December otherwise. These are the offers that exclude anyone who has ever had a TSB Plus account before.

This page has a link to the T's and C's: https://www.tsb.co.uk/current-accounts/guides/contactless-payments/

badger09

Deleted_User wrote: »

You need to pay in at least £500 per calendar month for interest. No DD requirement for interest (just for DD cashback on eligible accounts).

If you read the posts before yours - there aren't many, you will see that that isn't the only requirement.

Hence my advice to OP to read the T&Cs, rather than rely solely on the responses from posters on here, regardless of how well informed or well meaning those posters are.