TSB launches new 'Spend and Save' current account

ischris85

My TSB classic account has now changed to this 'Spend and Save account' but no email from TSB yet.

colsten

ischris85 said:

My TSB classic account has now changed to this 'Spend and Save account' but no email from TSB yet.

Same for me. It's a bit chaotic, as per normal from TSB.
My Classic Plus untouched, as expected.

funkycredit

Ditto - Classic Plus remains (for now) 🤞

stclair

I only heard about it yesterday for the first time however, I do like the idea of its features. I wish First Direct would do something similar as I use them as my main account. 

https://www.tsb.co.uk/current-accounts/pdf/spend-and-save-account-overview-and-benefits.pdf

EarthBoy

Gers said:

Had to set up mobile banking again just now (even though I had logged on much earlier) and no change to the accounts, still got three Classic Enhance and three Classic Plus accounts.

No communication about the changes either.

I don't think you will get any communication because the changes only affect the Classic account.  They don't affect the Classic Plus or the Classic Enhance accounts.  
If you don't have any Classic accounts there are no changes to tell you about.

EarthBoy

stclair said:

I only heard about it yesterday for the first time however, I do like the idea of its features. I wish First Direct would do something similar as I use them as my main account. 

https://www.tsb.co.uk/current-accounts/pdf/spend-and-save-account-overview-and-benefits.pdf

What exactly does the Spend and Save account offer you that you can't get with First Direct -or with almost any other bank, come to that?
Savings pots are separate savings accounts in all but name. 
Save the Pennies is old hat.  TSB inherited this when they split from Lloyds, which has been doing it for years and years. 
Cashback is only for six months anyway.  After that you won't get it.
Text Alerts? First Direct did these 25 years ago and they're seen as very antiquated nowadays.  Most banks offer app notifications.
Automated Telephone Banking Service?  Really?  Who wants that rubbish if they can use the app?
Auto Balancer is First Direct's Sweep but in reverse.  This could be useful, and it's the only novel thing about the account.

colsten

EarthBoy said:

Auto Balancer is First Direct's Sweep but in reverse.  This could be useful, and it's the only novel thing about the account.

Agreed - -  though this would only really be useful if the interest rate of the savings account(s) would be attractive. Which I don't think it is, so the feature is pretty academic.

quirkydeptless

Too late TSB, my Classic, now Spend & Save, is already toddling off this week, playing the game we love the most on this site...

creditavenger

This may not be too bad a deal if they combine their new "Spend and Save" account offering with a nice new healthy switching offer. I could be looking for somewhere to place my existing Club Lloyds business in about 10 working days time 

Katiehound

When TSB had the debit card £5 reward initially I just used to buy everything on the card instead of on my CC.
These days it is much more acceptable- with Covid everywhere , pretty much, that card payments are expected for even £1. - I must admit I might struggle with one every day- but it would be a nice little bonus for 6 months especially as interest rates are rock bottom.