TSB lowering their Plussyness!

bristolleedsfan

https://www.thesun.co.uk/money/8814447/tsb-slashes-interest-on-top-current-account-from-5-to-3-here-are-the-best-alternatives/

Cotta

eskbanker wrote: »

I know they lost you as a customer (unsurprisingly!) but as I pointed out when the last set of quarterly switching stats was published, they weren't haemorrhaging customers in the way that might have been expected, so the cynic would observe that the 5% rate has probably done its job of stemming the exodus during the year following the IT fiasco, so they'll no doubt be hoping that everything has settled down again and that people will have forgotten about it.

And as pointed out above, even 3% is still market-leading (when the finite 12-month Nationwide product is discounted), and according to the MSE article they're reinstating their referral scheme, although this isn't evident (to me) on their website yet....

Just noticed they have revived their refer a friend switch bonus, don't think this applies to former customers though.

colsten

Cotta wrote: »

Just noticed they have revived their refer a friend switch bonus, don't think this applies to former customers though.

Have you seen the T&Cs yet? Link please, if you have.

Shedman

https://www.tsb.co.uk/recommend-tsb/

And it looks like it only excludes former customers if you've had an incentive switching payment in the past

colsten

Shedman wrote: »

https://www.tsb.co.uk/recommend-tsb/

And it looks like it only excludes former customers if you've had an incentive switching payment in the past

That is not the case.

Detailed T&Cs here: https://www.tsb.co.uk/current-accounts/recommend-a-friend-terms-and-conditions.pdf (downloads a PDF)

Existing account holders are not eligible for the offer if they are being referred.

Shedman

colsten wrote: »

That is not the case.

Detailed T&Cs here: https://www.tsb.co.uk/current-accounts/recommend-a-friend-terms-and-conditions.pdf (downloads a PDF)

Existing account holders are not eligible for the offer if they are being referred.

I referred to former customers not existing customers. Only seem to be excluded if

1.5 You must not already have a current account with TSB at the time of referral.
1.6 You must not have previously received an incentive for switching an account to TSB.

So I read that as if you had an account in the past and its been closed and you haven't had an incentive payment then you are eligible.

colsten

Shedman wrote: »

So I read that as if you had an account in the past and its been closed and you haven't had an incentive payment then you are eligible.

yes, I agree. Sorry for misunderstanding

Cotta

Shedman wrote: »

1.6 You must not have previously received an incentive for switching an account to TSB.

How would that work for someone like me? I am not a TSB customer and previously they did not pay my switch referral. However under a FOS ruling they were ordered to pay it as part of a lump sum which included other issues.

eskbanker

Cotta wrote: »

How would that work for someone like me? I am not a TSB customer and previously they did not pay my switch referral. However under a FOS ruling they were ordered to pay it as part of a lump sum which included other issues.

There's a certain well-known John McEnroe catchphrase that springs to mind at the prospect of you jumping back into bed with TSB so surely this is a moot point!

Cotta

eskbanker wrote: »

There's a certain well-known John McEnroe catchphrase that springs to mind at the prospect of you jumping back into bed with TSB so surely this is a moot point!

Nope, once bitten etc, I was more talking hypothetically.