TSB £180 switch offer

OceanSound

WillPS said:

OceanSound said:

Just wondering, although the OFFICIAL deadline for opening account is 31 October 2022, the UNOFFICIAL deadline is much earlier I reckon. It's now or a few days from now. 

Why? we cannot start the switch until the activation code arrives by post (or if you already bank with TSB until the accounts are merged within online banking). If you're waiting for activation code, I heard that takes about 10 days. You start the switch on the day you receive activation code. Need 7 working days for the switch to complete and that needs to happen before the 18 November. 

Why do you need the activation code in order to switch?

All you need is the TSB Sort code and account number, the form is visible without logging in to Online Banking:
https://www.tsb.co.uk/current-accounts/switching-bank-account/#what-you-need-to-switch

Well, I read this post: 

https://forums.moneysavingexpert.com/discussion/comment/79548660/#Comment_79548660

.....Tsb say you can but that page is frozen dead as per tsb usual stuff.
You need to wait for your activation code sent in the post, mine took 6 days from account opening then log in ID, password then activation code, then compose memorable info and answers to three self selected security questions. Even though tsb claim to amalgamate this account with any others if held, in due course. Still that’s tsb faff. ...

The link you posted is really useful link. However, it's the first time I've seen it on this thread and believe me I've been through every post and all the pages more than once. After seeing your post, I even did a text search on every page for 'what-you-need'. Nothing came up. So, unless a member linked the URL to some text my searches should've found something. 

Also, the quote above talks about the webpage that loads soon after clicking switch bank account link shown on TSB website soon after opening account being duff. Indeed that is what I experienced yesterday after opening account. I'm no IT expert (okay maybe a little bit), defies belief as to why TSB cannot simply change the link, so instead of loading a duff webpage it loads the webpage from the link you've mentioned above.

OceanSound

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

andyhicks88 said:

OceanSound said:

binaryuniverse said:

OceanSound said:

binaryuniverse said:

My account has been open for a few days now. Online account has been set up. Have my card and pin. All good to go... or so I thought. 
Just tried to pay in a fiver. Details matched. Hit confirm:

"Sorry. The payee's bank has advised that they are unable to accept the payment."

I have never had that with a new account before. Good to see TSB are still a farce.

Did you try paying in to tsb account using another bank (in addition to the one you tried)?

I certainly did. Same result.

It's not 24 October yet LoL 😆:

https://forums.moneysavingexpert.com/discussion/comment/79564695/#Comment_79564695

Could be that the switch is still going through. I'd wait for a 'switch completed' email, sms or letter (since tsb seems big on sending out letters) then try the payment again.

But surely the actual account is open already?  So there shouldn't be an issue?

Shouldn't be!. We're talking TSB though. 

From my experience a switch goes through on the same day, on the date arranged. I believe it takes a couple of hours for everything to port across. 

I'm just thinking aloud. Maybe because TSB is handling it (and we are ware how bad their systems are) they allowed switch to go through earlier and now it's stuck in limbo until the 24th.

It's known as 7-day switching because the process starts 7 working days ahead of the completion date (in this case 24th). No bank is able to complete a current account switch within a couple of hours or even on the same day. It takes a minimum of 3 working days to move over a direct debit, for example. The direct debits need to be active a few days ahead of the switch completion date to allow a grace period where payments could still be pulled from the old account (DDs rely on a BACS clearing cycle).

You can read about it here: https://www.tsb.co.uk/current-accounts/switching-bank-account/7-day-switching-brochure.pdf

Note: "Your new TSB account is already up and running" at the beginning of the process. I can assure you that CASS switches do not result in the destination account being frozen for the period when the switch is taking place. Having switched to TSB in the past (after Sabadell's awful IT system was put in place), I can confirm this is true even for TSB.

binaryuniverse should query the payments being rejected as they should be accepted into the new account. Something is clearly not right.

binaryuniverse said:

myth123 said:

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

When you started your switch did it allow you to pick a specific switching date?

Yes it did. I picked the 24th Oct.

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

binaryuniverse received the activation code on 18 October, logged in and started the switching process the same day (18 October). Picked switch date of 24 October.

Even without a calendar in sight, I can tell that's nowhere near 7 working days. Going by the information you referred to, in order to complete switch on 24th, switch would need to have started on or around the 13 October.

p.s. admins please make the above appear in black font. For some reasons it's appearing in blue. I never selected blue font

This is not possible, as direct debits cannot be set up on the new account to the point they are capable of paying in this timeframe. I would suggest that binaryuniverse checks it was really the 18th-24th (and whether a switch was originally requested during the account application, such that what was done later was an adjustment to the completion date of an existing switch). When I started my switch, the earliest switch date I was given was T+7 working days, in line with the information provided by TSB. To have a switch complete today, it must have been started on or before 14th October. I have done many CASS switches over the last few years and this is always the case. It is a standardised process across the banking sector.

I suppose, being TSB, one cannot rule out an error in the switching form, but if a switch really was applied for on the 18th, then it should come as no surprise if it doesn't complete today.

Edit: On double checking the earlier posts in the thread, here is the one in question dated 17th October rather than 18th: https://forums.moneysavingexpert.com/discussion/comment/79563057/#Comment_79563057 though this is still one working day short. It is believable that a switch started early enough in the day on the 17th could complete today because the 7 day period starts on the day you apply for the switch and may allow for switches that could not be started before a cut-off point on Day 1. Hence the first stage of the switch is "Day 1-2" whereas the switch can normally be approved, and details of payments requested, within one day.

The date and time for that post says '18 October at 2:36AM on my computer, so it seems binaryuniverse did receive activation code on 17 October, as the time shown seems the local time where I'm (it's 6+ hours ahead of UK time).

I can see that binaryuniverse has just confirmed that the switch was pushed back to 26th by TSB. Wonder how TSB system allowed a switch date of 24 October in the first place? If as you say, the 24 October was possible if it was started early enough in the day on 17th, then why would TSB push it back to 26th?

edit: does anyone know if the switch dates are based on demand? or is the 7 working day possible on all cases? Reason I ask is, with co-operative bank when I went through setting up switch at account opening time, it gave me a date weeks ahead (application on: 10 September. It showed and I selected earliest switch date: 04 October).

I then called support on 22 September (for something else), and it turned out the switch request 'hadn't registered', so the support staff started it. she setup the switch completion date to be 04 October. Switch went through fine by/on that date.

Btw, I had read other posts on other forums that co-operative bank switch dates given were weeks ahead (as I had experienced). But it seems it can be shorter if we call support. maybe when I called support the demand had gone down. Doubt it though!

I'd forgotten about your timezone issues.

Some banks will add a delay for newly opened accounts so that they don't get complaints about the switch completing before the switcher has gained access to the new account. Switches can be delayed due to issues communicating with the other bank.

In this case (TSB) I have no idea what the reason is, but as binaryuniverse says, it shouldn't prevent payments being sent or received from the TSB account.

I had started focusing on the switch time frame (7 working day) during and after this post: 
https://forums.moneysavingexpert.com/discussion/comment/79576748/#Comment_79576748

OceanSound

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

andyhicks88 said:

OceanSound said:

binaryuniverse said:

OceanSound said:

binaryuniverse said:

My account has been open for a few days now. Online account has been set up. Have my card and pin. All good to go... or so I thought. 
Just tried to pay in a fiver. Details matched. Hit confirm:

"Sorry. The payee's bank has advised that they are unable to accept the payment."

I have never had that with a new account before. Good to see TSB are still a farce.

Did you try paying in to tsb account using another bank (in addition to the one you tried)?

I certainly did. Same result.

It's not 24 October yet LoL 😆:

https://forums.moneysavingexpert.com/discussion/comment/79564695/#Comment_79564695

Could be that the switch is still going through. I'd wait for a 'switch completed' email, sms or letter (since tsb seems big on sending out letters) then try the payment again.

But surely the actual account is open already?  So there shouldn't be an issue?

Shouldn't be!. We're talking TSB though. 

From my experience a switch goes through on the same day, on the date arranged. I believe it takes a couple of hours for everything to port across. 

I'm just thinking aloud. Maybe because TSB is handling it (and we are ware how bad their systems are) they allowed switch to go through earlier and now it's stuck in limbo until the 24th.

It's known as 7-day switching because the process starts 7 working days ahead of the completion date (in this case 24th). No bank is able to complete a current account switch within a couple of hours or even on the same day. It takes a minimum of 3 working days to move over a direct debit, for example. The direct debits need to be active a few days ahead of the switch completion date to allow a grace period where payments could still be pulled from the old account (DDs rely on a BACS clearing cycle).

You can read about it here: https://www.tsb.co.uk/current-accounts/switching-bank-account/7-day-switching-brochure.pdf

Note: "Your new TSB account is already up and running" at the beginning of the process. I can assure you that CASS switches do not result in the destination account being frozen for the period when the switch is taking place. Having switched to TSB in the past (after Sabadell's awful IT system was put in place), I can confirm this is true even for TSB.

binaryuniverse should query the payments being rejected as they should be accepted into the new account. Something is clearly not right.

binaryuniverse said:

myth123 said:

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

When you started your switch did it allow you to pick a specific switching date?

Yes it did. I picked the 24th Oct.

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

binaryuniverse received the activation code on 18 October, logged in and started the switching process the same day (18 October). Picked switch date of 24 October.

Even without a calendar in sight, I can tell that's nowhere near 7 working days. Going by the information you referred to, in order to complete switch on 24th, switch would need to have started on or around the 13 October.

p.s. admins please make the above appear in black font. For some reasons it's appearing in blue. I never selected blue font

This is not possible, as direct debits cannot be set up on the new account to the point they are capable of paying in this timeframe. I would suggest that binaryuniverse checks it was really the 18th-24th (and whether a switch was originally requested during the account application, such that what was done later was an adjustment to the completion date of an existing switch). When I started my switch, the earliest switch date I was given was T+7 working days, in line with the information provided by TSB. To have a switch complete today, it must have been started on or before 14th October. I have done many CASS switches over the last few years and this is always the case. It is a standardised process across the banking sector.

I suppose, being TSB, one cannot rule out an error in the switching form, but if a switch really was applied for on the 18th, then it should come as no surprise if it doesn't complete today.

Edit: On double checking the earlier posts in the thread, here is the one in question dated 17th October rather than 18th: https://forums.moneysavingexpert.com/discussion/comment/79563057/#Comment_79563057 though this is still one working day short. It is believable that a switch started early enough in the day on the 17th could complete today because the 7 day period starts on the day you apply for the switch and may allow for switches that could not be started before a cut-off point on Day 1. Hence the first stage of the switch is "Day 1-2" whereas the switch can normally be approved, and details of payments requested, within one day.

The date and time for that post says '18 October at 2:36AM on my computer, so it seems binaryuniverse did receive activation code on 17 October, as the time shown seems the local time where I'm (it's 6+ hours ahead of UK time).

I can see that binaryuniverse has just confirmed that the switch was pushed back to 26th by TSB. Wonder how TSB system allowed a switch date of 24 October in the first place? If as you say, the 24 October was possible if it was started early enough in the day on 17th, then why would TSB push it back to 26th?

edit: does anyone know if the switch dates are based on demand? or is the 7 working day possible on all cases? Reason I ask is, with co-operative bank when I went through setting up switch at account opening time, it gave me a date weeks ahead (application on: 10 September. It showed and I selected earliest switch date: 04 October).

I then called support on 22 September (for something else), and it turned out the switch request 'hadn't registered', so the support staff started it. she setup the switch completion date to be 04 October. Switch went through fine by/on that date.

Btw, I had read other posts on other forums that co-operative bank switch dates given were weeks ahead (as I had experienced). But it seems it can be shorter if we call support. maybe when I called support the demand had gone down. Doubt it though!

I'd forgotten about your timezone issues.

Some banks will add a delay for newly opened accounts so that they don't get complaints about the switch completing before the switcher has gained access to the new account. Switches can be delayed due to issues communicating with the other bank.

In this case (TSB) I have no idea what the reason is, but as binaryuniverse says, it shouldn't prevent payments being sent or received from the TSB account.

I had started focusing on the switch time frame (7 working day) during and after this post: 
https://forums.moneysavingexpert.com/discussion/comment/79576748/#Comment_79576748

I know you did, but I am still interested in helping binaryuniverse.

Surely repeating what binaryuniverse says isn't going to help them.

I'm reassuring them that they are correct. I'll leave it to them to comment as to which of us is being helpful.

Unfortunately, it wasn't them that initially said 'switch shouldn't be an issue'. It was AndyHicks88, then it was you, then binaryuniverse. 

So, essentially, you've suggested something  or helped them as you phrase it, they've agreed with you, then you've agreed with them.

Then I think we are all in agreement that the switch shouldn't prevent payments being sent or received from the TSB account. An important point for binaryuniverse to latch onto lest a TSB customer service agent try to convince them otherwise.

You reassure someone if they have doubts. If you are in agreement then you wouldn't need to reassure.

I think binaryuniverse should call TSB while being receptive to what the service agent has to say, not thinking the service agent is out to spin binaryuniverse a yarn. 

Over62

I upgraded my existing Classic account to a Spend and Save account.  My switch from Nationwide happened today.  I've made a debit card purchase.  Anyone any idea how long it should be before my bonus is paid?

masonic

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

masonic said:

OceanSound said:

andyhicks88 said:

OceanSound said:

binaryuniverse said:

OceanSound said:

binaryuniverse said:

My account has been open for a few days now. Online account has been set up. Have my card and pin. All good to go... or so I thought. 
Just tried to pay in a fiver. Details matched. Hit confirm:

"Sorry. The payee's bank has advised that they are unable to accept the payment."

I have never had that with a new account before. Good to see TSB are still a farce.

Did you try paying in to tsb account using another bank (in addition to the one you tried)?

I certainly did. Same result.

It's not 24 October yet LoL 😆:

https://forums.moneysavingexpert.com/discussion/comment/79564695/#Comment_79564695

Could be that the switch is still going through. I'd wait for a 'switch completed' email, sms or letter (since tsb seems big on sending out letters) then try the payment again.

But surely the actual account is open already?  So there shouldn't be an issue?

Shouldn't be!. We're talking TSB though. 

From my experience a switch goes through on the same day, on the date arranged. I believe it takes a couple of hours for everything to port across. 

I'm just thinking aloud. Maybe because TSB is handling it (and we are ware how bad their systems are) they allowed switch to go through earlier and now it's stuck in limbo until the 24th.

It's known as 7-day switching because the process starts 7 working days ahead of the completion date (in this case 24th). No bank is able to complete a current account switch within a couple of hours or even on the same day. It takes a minimum of 3 working days to move over a direct debit, for example. The direct debits need to be active a few days ahead of the switch completion date to allow a grace period where payments could still be pulled from the old account (DDs rely on a BACS clearing cycle).

You can read about it here: https://www.tsb.co.uk/current-accounts/switching-bank-account/7-day-switching-brochure.pdf

Note: "Your new TSB account is already up and running" at the beginning of the process. I can assure you that CASS switches do not result in the destination account being frozen for the period when the switch is taking place. Having switched to TSB in the past (after Sabadell's awful IT system was put in place), I can confirm this is true even for TSB.

binaryuniverse should query the payments being rejected as they should be accepted into the new account. Something is clearly not right.

binaryuniverse said:

myth123 said:

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

When you started your switch did it allow you to pick a specific switching date?

Yes it did. I picked the 24th Oct.

binaryuniverse said:

Got my activation code, today, and finished setting up my online stuff, plus got the switch moving.

I fully expect the bonus to not get paid, and I have to chase TSB for it. Because it's TSB.

binaryuniverse received the activation code on 18 October, logged in and started the switching process the same day (18 October). Picked switch date of 24 October.

Even without a calendar in sight, I can tell that's nowhere near 7 working days. Going by the information you referred to, in order to complete switch on 24th, switch would need to have started on or around the 13 October.

p.s. admins please make the above appear in black font. For some reasons it's appearing in blue. I never selected blue font

This is not possible, as direct debits cannot be set up on the new account to the point they are capable of paying in this timeframe. I would suggest that binaryuniverse checks it was really the 18th-24th (and whether a switch was originally requested during the account application, such that what was done later was an adjustment to the completion date of an existing switch). When I started my switch, the earliest switch date I was given was T+7 working days, in line with the information provided by TSB. To have a switch complete today, it must have been started on or before 14th October. I have done many CASS switches over the last few years and this is always the case. It is a standardised process across the banking sector.

I suppose, being TSB, one cannot rule out an error in the switching form, but if a switch really was applied for on the 18th, then it should come as no surprise if it doesn't complete today.

Edit: On double checking the earlier posts in the thread, here is the one in question dated 17th October rather than 18th: https://forums.moneysavingexpert.com/discussion/comment/79563057/#Comment_79563057 though this is still one working day short. It is believable that a switch started early enough in the day on the 17th could complete today because the 7 day period starts on the day you apply for the switch and may allow for switches that could not be started before a cut-off point on Day 1. Hence the first stage of the switch is "Day 1-2" whereas the switch can normally be approved, and details of payments requested, within one day.

The date and time for that post says '18 October at 2:36AM on my computer, so it seems binaryuniverse did receive activation code on 17 October, as the time shown seems the local time where I'm (it's 6+ hours ahead of UK time).

I can see that binaryuniverse has just confirmed that the switch was pushed back to 26th by TSB. Wonder how TSB system allowed a switch date of 24 October in the first place? If as you say, the 24 October was possible if it was started early enough in the day on 17th, then why would TSB push it back to 26th?

edit: does anyone know if the switch dates are based on demand? or is the 7 working day possible on all cases? Reason I ask is, with co-operative bank when I went through setting up switch at account opening time, it gave me a date weeks ahead (application on: 10 September. It showed and I selected earliest switch date: 04 October).

I then called support on 22 September (for something else), and it turned out the switch request 'hadn't registered', so the support staff started it. she setup the switch completion date to be 04 October. Switch went through fine by/on that date.

Btw, I had read other posts on other forums that co-operative bank switch dates given were weeks ahead (as I had experienced). But it seems it can be shorter if we call support. maybe when I called support the demand had gone down. Doubt it though!

I'd forgotten about your timezone issues.

Some banks will add a delay for newly opened accounts so that they don't get complaints about the switch completing before the switcher has gained access to the new account. Switches can be delayed due to issues communicating with the other bank.

In this case (TSB) I have no idea what the reason is, but as binaryuniverse says, it shouldn't prevent payments being sent or received from the TSB account.

I had started focusing on the switch time frame (7 working day) during and after this post: 
https://forums.moneysavingexpert.com/discussion/comment/79576748/#Comment_79576748

I know you did, but I am still interested in helping binaryuniverse.

Surely repeating what binaryuniverse says isn't going to help them.

I'm reassuring them that they are correct. I'll leave it to them to comment as to which of us is being helpful.

Unfortunately, it wasn't them that initially said 'switch shouldn't be an issue'. It was AndyHicks88, then it was you, then binaryuniverse. 

So, essentially, you've suggested something  or helped them as you phrase it, they've agreed with you, then you've agreed with them.

Then I think we are all in agreement that the switch shouldn't prevent payments being sent or received from the TSB account. An important point for binaryuniverse to latch onto lest a TSB customer service agent try to convince them otherwise.

You reassure someone if they have doubts. If you are in agreement then you wouldn't need to reassure.

In a long meandering discussion, which is being drawn further and further off topic by an ongoing analysis of contributors' motives for making the contributions they have made, it can be difficult to keep track. It was your summary post above that highlighted the consensus, but nevertheless, important points bear repeating so that they don't get overlooked in the volume of posts. From the tone of binaryuniverse's last contribution, I'm not as sure as you are that there was no doubt in their mind regarding this matter. The only possible negative consequence of giving reassurance was that someone might go on and on about how unnecessary it was. I perceived it as a very small risk, as surely very few people would take such a stance, this being a 'friendly community of moneysavers helping each other out', and all that.

Edit: And while it is regrettable everyone has had to wade through all of this OT discussion, I can make amends by halving the number of irrelevant posts they have to wade through prior to this point...

OceanSound said:

I think binaryuniverse should call TSB while being receptive to what the service agent has to say, not thinking the service agent is out to spin binaryuniverse a yarn. 

It is often the case that front line support get things wrong when first asked about them. Personally I have found it invaluable to approach such conversations armed with as much information as possible, so that one can challenge anything incorrect there and then without having to come back, wait on hold again, to speak to someone different who then has to be brought up to speed in order to get back to the point you were at when you ended the earlier call. That is the value of using a forum like this to discuss such issues ahead of making that time consuming call.

masonic

Over62 said:

I upgraded my existing Classic account to a Spend and Save account.  My switch from Nationwide happened today.  I've made a debit card purchase.  Anyone any idea how long it should be before my bonus is paid?

                                

adindas

Just information that might be useful for someone. You could  convert your existing Classic Plus Account to become "Spend and Save" but you will not  be able to do it online. For this you will need to go to one of TSB branches with all of your ID and Proof of address where they could convert it for you on the same day.

You could also use this opportunity to ask them close all of easy saver accounts (e.g. Ex-Regular saver account).

It might be useful for those who have a few classic accounts doing nothing as you could get the Spend and Save" Account ready to be used for switching incentive from this day. Also for those who have difficulties to open another new account with TSB.

soulsaver

Over62 said:

I upgraded my existing Classic account to a Spend and Save account.  My switch from Nationwide happened today.  I've made a debit card purchase.  Anyone any idea how long it should be before my bonus is paid?

Did you read the terms for this offer? 

Over62

adindas said:

Just information that might be useful for someone. You could  convert your existing Classic Plus Account to become "Spend and Save" but you will not  be able to do it online. For this you will need to go to one of TSB branches with all of your ID and Proof of address where they could convert it for you on the same day.

You could also use this opportunity to ask them close all of easy saver accounts (e.g. Ex-Regular saver account).

It might be useful for those who have a few classic accounts doing nothing as you could get the Spend and Save" Account ready to be used for switching incentive from this day. Also for those who have difficulties to open another new account with TSB.

If you go through the MSE link to the switching offer, there is a link on the application form to convert online.  Just wish you could close all those Easy Saver accounts online too.

Over62

soulsaver said:

Over62 said:

I upgraded my existing Classic account to a Spend and Save account.  My switch from Nationwide happened today.  I've made a debit card purchase.  Anyone any idea how long it should be before my bonus is paid?

Did you read the terms for this offer? 

Thank you to masonic for the answer.