TSB £180 switch offer

AndyTh_2

andyhicks88 said:

I know you have to switch/set up 2 direct debits, but they don't have to be active  every month until the payout right?  You can set up the dd just for the switch then cancel them once one payment has been taken out?

Cancelling the direct debit instruction would no longer make it active.

You will only get the first payout (£125) if cancelling them in December after the first payout. The 2nd payout (£55) has additional terms that cover start of December to end of May for £55

Ed-1

dcs34 said:

EarthBoy said:

Ghostcrawler said:

I have already got switching bonus but that account was closed in Jun 2021, think I should be eligible?

No, you're not eligible.  The conditions say that if you've previously had a switching bonus from TSB you can't have this one:

"You’re not eligible for this offer if you’ve previously received an incentive or benefit for switching to TSB Bank plc using the Current Account Switch Service."

And for the real question - will TSBs IT systems be able to detect and apply the eligibility criteria correctly...

On this point - my experience is that any notes that were put on the account prior to the botched IT migration in 2018 are now no longer visible and so any incentive received on the old system has in effect been wiped from their memory.

keiran

My (very hazy) recollection is that TSB hasn't had a switching incentive (per se) .

They've had a refer-a-friend incentive, and a lot of us opened multiple accounts (without switching) to benefit from cashback at quidco/TCB

mar7t1n

I want to keep my current current account, but do want to take advantage of these money give aways. I can find 2 direct debits to endlessly swap about. Any suggestions on an account I can open to seed the switch process while keeping my day to day current account. And how often can you do this before they get wise and block you doing it. I know you cannot go back to the same bank for 2 years, but do the others care, or just happy to get your business and hope this time you'll stick?

EarthBoy

mar7t1n said:

I know you cannot go back to the same bank for 2 years

Can't you? I know that Starling and Chase won't let you open another account for 12 months after you've left, and I've heard that some people have been unable to go back to Monzo, but I don't know of any such rule with any other bank. 

mar7t1n

EarthBoy said:

mar7t1n said:

I know you cannot go back to the same bank for 2 years

Can't you? I know that Starling and Chase won't let you open another account for 12 months after you've left, and I've heard that some people have been unable to go back to Monzo, but I don't know of any such rule with any other bank. 

My statement was an in general really. I've seen 18 months mentioned. Each bank subject to it's own T&C's of course, and also nothing to stop them declining your application based on knowledge you only had your previous account 6 weeks, and have done this switch with every bank going....

I'm just starting out, but don't want to use my actual current account as that seed account for all switches as it's not just direct debits it's all the linked savings accounts and payments in which will are the things which cause the hassle to change and if they go to the old account.

EarthBoy

mar7t1n said:

EarthBoy said:

mar7t1n said:

I know you cannot go back to the same bank for 2 years

Can't you? I know that Starling and Chase won't let you open another account for 12 months after you've left, and I've heard that some people have been unable to go back to Monzo, but I don't know of any such rule with any other bank. 

Each bank subject to it's own T&C's of course, and also nothing to stop them declining your application based on knowledge you only had your previous account 6 weeks, and have done this switch with every bank going....

That's true, especially if you keep using the same bank to open dummy accounts just for switching purposes. I did it twice with RBS with no problems, but after I tried it the third time they'd had enough and I'm now banned from opening any new accounts with RBS or NatWest. 

Daliah

EarthBoy said:

mar7t1n said:

I know you cannot go back to the same bank for 2 years

Can't you? I know that Starling and Chase won't let you open another account for 12 months after you've left, and I've heard that some people have been unable to go back to Monzo, but I don't know of any such rule with any other bank. 

Chase is no use for bonus hunters as they are not members of CASS. Barclays seem to have issues with people who switched out, too, but I don’t know for how long.

The easiest is often another account at your existing bank. And then keep the seitched account, ready for the next offer

WillPS

keiran said:

My (very hazy) recollection is that TSB hasn't had a switching incentive (per se) .

They've had a refer-a-friend incentive, and a lot of us opened multiple accounts (without switching) to benefit from cashback at quidco/TCB

There was at least one in Autumn 2015 via MSE. It was before they migrated away from LBG's IT though, so who knows whether switches back then will actually count.

Yorkshire_Pud

Daliah said:

As TSB offer terms have been known to vanish in the past, I have screenshotted them 

Good idea lol and duplicated 😊