TSB Query

Homeboy_1

Hi, This morning, when the final interest payments had been added to my two TSB Plus accounts and my joint account (with wife) I Transferred the £1500 plus the interest into my linked account, leaving a zero balance on the accounts. I phoned up to cancel my accounts, but they told me they couldn't close there and then for me, but I would have to do it online, or they would send a form out to me. No problem I thought, downloaded the form, but it said on the form they could only close the accounts if they were in credit. As there are no standing orders or direct debits linked to these accounts, and I have only used the accounts as a savings accounts. I still filled the form in with my details as requested and sent it off. Just wondering if they will close the accounts or will I have to transfer something like £1 into each of the accounts so that they can close them. Not particularly worried about anything, it might just help someone else if they decide to transfer all their money out from TSB

General_Grant

What they want is that you don't owe them any money as they wouldn't close the accounts if you did, you would have to pay them first.  Being "in credit" really means "not being in debit".

Experience:  Halifax (part of the Lloyds group) used to require positive balance throughout a month in order to qualify for the monthly reward.  I often had a zero balance but that never stopped my receipt of the reward.

colsten

The easiest to close a current account is to CASS-switch it, preferably for a switch bonus. It sounds that's too late now for you. Never mind, you now know for next time, if there is a next time.

clive0510

I'm transferring my current account from tsb to virgin money. I'm doing it via the on line switching service. its all going ahead. 

Homeboy_1

Thanks for the replies. Yes Colsten I should have used the CASS switching service. One I missed there. Will have my head screwed on for the next time. Yes clive0510 that's what I should have done. Doh