Transferring TSB to Santander and saving account still with TSB question!

fly-catchers

I have two TSB current accounts which I have had ages since they first offered 5% interest. I am closing and transferring one of them to 

Santander and hopefully will qualify for the £175 transfer incentive. I also have a ongoing regular saver with the TSB which matures in January. Till now I have been using the account I am transferring to send the monthly payment to the regular saver by standing order each month. I have now cancelled that and setup one with the other TSB current account. When it matures should the money now be sent to that account or will it still have needed the other account to go to? On a letter I have had from TSB they say that any savings accounts will need a visit to a branch to receive the money now the account is closing. But will that still apply if I still have the other account with them? As there don’t seem to many TSB branches left and certainly not local!

Daliah

You can transfer from the Easy Saver or similar to your remaining current account.

Bridlington1

The monthly saver, unlike savings pots, is not linked to any one current account. As long as you still have a TSB current account you should have no issues. I opened a TSB spend & save account and a monthly saver in January, opened a student account in March and then switched the spend & save account to Halifax in April to get £125. I've not had any issues paying into the monthly saver since then.

Having said that, your TSB monthly saver will only be at 2% with a maximum pay in of £125/mth. If you are only saving into one monthly saver, there are now quite a few regular savers that pay more than that see: https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Daliah

Bridlington1 said:

 ……….

Having said that, your TSB monthly saver will only be at 2% with a maximum pay in of £125/mth. If you are only saving into one monthly saver, there are now quite a few regular savers that pay more than that see: https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Mine pays 2.5% and alllows £250 a month. As mentioned in the link you posted

Bridlington1

Daliah said:

Bridlington1 said:

 ……….

Having said that, your TSB monthly saver will only be at 2% with a maximum pay in of £125/mth. If you are only saving into one monthly saver, there are now quite a few regular savers that pay more than that see: https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Mine pays 2.5% and alllows £250 a month. As mentioned in the link you posted

Accounts opened in January only pay 2% fixed and allow you to pay in a maximum of £125/mth. They changed the interest rate for new accounts a few months ago and upped the maximum monthly deposit. The monthly saver summary box states:

If you close your Monthly Saver before the end of the 12 month term, you won't be able to open another account before the first anniversary of this account.

As both myself and the OP opened monthly savers in January 2022, we cannot open new monthly savers at the increased rate until January 2023 at the earliest.