TSB launches new 'Spend and Save' current account

Shedman

creditavenger said:

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 

Presumably after you've switched another account into the Lloyds Club account and got the £100? 

Gers

EarthBoy said:

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.

Thanks for that! It's all very confusing sometimes.

I wonder if I can apply for Classic / Spend and Save account too????

IN EDIT  - short answer to myself is 'no'.

Classic Account (no longer on sale)

https://www.tsb.co.uk/current-accounts/classic-account/

creditavenger

Shedman said:

creditavenger said:

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 

Presumably after you've switched another account into the Lloyds Club account and got the £100? 

Oh absolutely, hence the "in 10 working days time" 

And.... each Classic/Spend and Save account held should generate a potential £30 over the six month period when debit card transaction cashback is possible. 30 txns per month is easily achievable if a little tedious. After the recentish TSB/Quidco offer there must be plenty of redundant Classics about!

Who could have forseen that the TSB Classic account would have surpassed the TSB Classic Plus account as the on-going money generating vehicle of choice? 

colsten

creditavenger said:

After the recentish TSB/Quidco offer there must be plenty of redundant Classics about!

Many people are still waiting for the cashback for accounts opened March/April/May time. I reckon that closing / switching these accounts would cancel the cashback.

creditavenger

colsten said:

creditavenger said:

After the recentish TSB/Quidco offer there must be plenty of redundant Classics about!

Many people are still waiting for the cashback for accounts opened March/April/May time. I reckon that closing / switching these accounts would cancel the cashback.

I see what you are saying, especially given the previous report of Quidco cancelling a member's cashback for what they termed "abuse" of the offer. ....But (from memory and I'd need to check) I think that the original TSB/Quidco T+Cs said something like you had to keep the account open for at least 60 EDIT 90 days to qualify for the cashback. It would seem that Quidco could perhaps just refuse the cashback if that suited their purposes anyhow!
In any case you wouldn't be switching the Classics anywhere just funding them and doing the debit card transactions for 6 months by which time the Quidco cashback situation should be resolved one way or the other.

The £5 per month reward for 30 debit card transactions certainly surpasses what could be achieved from the new associated "Savings Pots" which apparently pay:

• "A variable rate of interest of 0.04% Gross Monthly/ 0.05% AER – this rate includes a fixed introductory bonus of 0.04% for the first 12 months. After 12 months, the variable rate without bonus will apply"

ischris85

colsten said:

creditavenger said:

After the recentish TSB/Quidco offer there must be plenty of redundant Classics about!

Many people are still waiting for the cashback for accounts opened March/April/May time. I reckon that closing / switching these accounts would cancel the cashback.

Yep, I'm one of those people. Maybe TSB are hoping we switch/close the accounts so they don't have to pay out next month.

keiran

Co-op bank already wants 60 debit card transactions for £3/month
And then for my 3 TSB acc's wanting 30 debit card transactions each for 3 times £5/month (for 6 months only) 
=  150 debit card transactions per month
I might actually have to draw the line here for once 

creditavenger

keiran said:

Co-op bank already wants 60 debit card transactions for £3/month
And then for my 3 TSB acc's wanting 30 debit card transactions each for 3 times £5/month (for 6 months only) 
=  150 debit card transactions per month
I might actually have to draw the line here for once 

I see it as a challenge, lol 

crumpet_man

30 for a fiver is do-able, 60 for £3 not worth it.

mazzetti

next time you go for a big food shop use the self service till and pay fpr each item individially by debit card!