TSB Terms and Conditions Jan 2020 Update

sjcsystems

I've just received written confirmation of changes to the T's and C's from TSB. Aside from the increase in the overdraft rate to 39%, there are a few confusing entries in their documentation...

Despite being dated January 2020, there is an entry that says "If the UK leaves the EU you'll no longer be able to use the online dispute resolution platform at eu.europa.eu/odr".

However my main concern is the first section "New rules mean withdrawing or paying in Euros will now cost you less...". Multiple references are made to the EEA and the article lists the countries that are in that group, including the UK.

But at the bottom of page 5, in the Notes section in smaller print it says: "For these purposes, the EEA does not include the UK..." ???

Did TSB not expect anyone to read this?

Oh and there is a brief mention that in the future, my details may be passed to other companies - GDPR anyone??

eskbanker

sjcsystems wrote: »

Despite being dated January 2020, there is an entry that says "If the UK leaves the EU you'll no longer be able to use the online dispute resolution platform at eu.europa.eu/odr".

The Withdrawal Agreement was only passed into law late last week, so at the time that was written there was no legally-binding commitment to leave, so the use of 'if' seems reasonable to me to cover the bases.

sjcsystems wrote: »

However my main concern is the first section "New rules mean withdrawing or paying in Euros will now cost you less...". Multiple references are made to the EEA and the article lists the countries that are in that group, including the UK.

But at the bottom of page 5, in the Notes section in smaller print it says: "For these purposes, the EEA does not include the UK..." ???

'These purposes' are explained in the rest of that paragraph:

For these purposes, the EEA does not include the UK, so you will be charged these fees if you withdraw cash in Euros or make a Euro payment in the UK. For example, if you use your ATM card to withdraw £100 in Euros at a UK airport and the cash machine operator does the conversion we will charge the non-pounds cash fee.

sjcsystems wrote: »

Oh and there is a brief mention that in the future, my details may be passed to other companies - GDPR anyone??

The context makes it clear that the reference is to a change in corporate entities, i.e. similar to the preservation of rights and obligations when TSB was split out from Lloyds TSB. So, if all of TSB's UK retail banking was to be shifted to, say, a new entity called Sabadell UK, then everything would be transferred over, which is a perfectly sensible proposition. There are a myriad of other circumstances under which they'd share personal data, all of which are explained in their privacy policy and all of which will have been reviewed carefully by data protection experts to ensure compliance with DPA/GDPR.

sjcsystems wrote: »

Did TSB not expect anyone to read this?

They probably expected anyone reading to make a decent stab at understanding it too....