TSB £180 switch offer

masonic

keiran said:

TSB certainly won't baulk about 30 tranx.   But the (eg) credit card company you use to pay tiny amounts 30 times may do. 
Capitalone closed my account with them after I'd done this (for several TSB accounts) last year . There could have been no other reason (although they refused to give any reason)

But I do wonder now, that if I'm doing 5 tranx for the "stay" incentive" , I might as well do another 25 (across different credit card payments) for the extra £5 for 6 months

I don't generally go for incentives that require large numbers of debit card payments, in part for this reason, but also because it makes a mess. If I were to do this one, I'd use something like Amazon's balance reload, where they have included a 'daily' option (so less likely to be seen as abuse), and it requires no work once set up, other than the occasional extra transaction where there is a risk of falling short. But I think I'll pass on the £30, tempting though it is.

Bridlington1

OceanSound said:

quirkydeptless said:

WillPS said:

david_mason said:

masonic said:

david_mason said:

Do Online debit card payment / purchase (say a Paypal transaction) qualify as a “Debit Card Payment” that satisfies TSB’s T&Cs for this offer? 

Yes online debit card payments qualify.

So in theory, we could just make 5 Online debit card payments to the same merchant every month between 01 Dec and 31 May to qualify for the additional £55?

Yep. If you do it 30 times a month (i.e. a £1 daily amazon.co.uk top up, taking care to ensure there's a couple extra in February and whenever late-month bank holidays might mess it up) will get you £5 a month for the first 6 months as well

NB the debit only counts for the day it leaves the account, not the day it is paid, so debits in the last few days of the month can count for the following month. Also take note that payments only leave on working days.

Also, if we receive the debit card towards the end of the month, ensure the payments are done immediately. Of course there will be instances where even if we do it immediately payments won't go through for that month. E.g. receive card on Friday 30th in a 30 day month. Then even if we do payments on that day they won't go through until the Monday (at least), and it will be next month by then. 

I received debit card on Friday 28th October. Had I done the payments on that day they would've gone through on the 31st October I reckon. Instead I forgot about I, and only did the 30x payments on Sunday 30th October. All 30x payments appeared on statement with date 1 November. So, they didn't count towards October, but they counted towards the November 30x payments. 

I did search online and see that tsb does say it's the date when the transaction goes through that counts, not the transaction date. So, I was aware of it before I did the 30x payments. However, I just wanted to see if by any chance the 30x payments would go through by Monday 31 October. Sadly not. Guess I forfeit 1 month out of the 6 months. 

Wonder if a customer that receives the card on Monday 31st October 2022 will start their 6 months from November as opposed to October. So, they get one additional month (due to the month end cut off)

They won't. This is why you should always open TSB spend and save accounts near the beginning of the month, especially with the postal strikes causing delays with receiving the debit card.

k_man

masonic said:

keiran said:

TSB certainly won't baulk about 30 tranx.   But the (eg) credit card company you use to pay tiny amounts 30 times may do. 
Capitalone closed my account with them after I'd done this (for several TSB accounts) last year . There could have been no other reason (although they refused to give any reason)

But I do wonder now, that if I'm doing 5 tranx for the "stay" incentive" , I might as well do another 25 (across different credit card payments) for the extra £5 for 6 months

I don't generally go for incentives that require large numbers of debit card payments, in part for this reason, but also because it makes a mess. If I were to do this one, I'd use something like Amazon's balance reload, where they have included a 'daily' option (so less likely to be seen as abuse), and it requires no work once set up, other than the occasional extra transaction where there is a risk of falling short. But I think I'll pass on the £30, tempting though it is.

Top tip on the auto/scheduled top up.

OceanSound

Bridlington1 said:

OceanSound said:

quirkydeptless said:

WillPS said:

david_mason said:

masonic said:

david_mason said:

Do Online debit card payment / purchase (say a Paypal transaction) qualify as a “Debit Card Payment” that satisfies TSB’s T&Cs for this offer? 

Yes online debit card payments qualify.

So in theory, we could just make 5 Online debit card payments to the same merchant every month between 01 Dec and 31 May to qualify for the additional £55?

Yep. If you do it 30 times a month (i.e. a £1 daily amazon.co.uk top up, taking care to ensure there's a couple extra in February and whenever late-month bank holidays might mess it up) will get you £5 a month for the first 6 months as well

NB the debit only counts for the day it leaves the account, not the day it is paid, so debits in the last few days of the month can count for the following month. Also take note that payments only leave on working days.

Also, if we receive the debit card towards the end of the month, ensure the payments are done immediately. Of course there will be instances where even if we do it immediately payments won't go through for that month. E.g. receive card on Friday 30th in a 30 day month. Then even if we do payments on that day they won't go through until the Monday (at least), and it will be next month by then. 

I received debit card on Friday 28th October. Had I done the payments on that day they would've gone through on the 31st October I reckon. Instead I forgot about I, and only did the 30x payments on Sunday 30th October. All 30x payments appeared on statement with date 1 November. So, they didn't count towards October, but they counted towards the November 30x payments. 

I did search online and see that tsb does say it's the date when the transaction goes through that counts, not the transaction date. So, I was aware of it before I did the 30x payments. However, I just wanted to see if by any chance the 30x payments would go through by Monday 31 October. Sadly not. Guess I forfeit 1 month out of the 6 months. 

Wonder if a customer that receives the card on Monday 31st October 2022 will start their 6 months from November as opposed to October. So, they get one additional month (due to the month end cut off)

They won't. This is why you should always open TSB spend and save accounts near the beginning of the month, especially with the postal strikes causing delays with receiving the debit card.

The relevant bit from Tsb website if others are interested (why 'they won't'):

Earn £5 Cashback monthly for six months, including the month you open your account, when you make 30 debit card payments or more each calendar month. You are eligible for Cashback on opening a new Spend & Save account, or changing from an existing TSB account, excluding Classic. See Cashback T&Cs.

adindas

OceanSound said:

Earn £5 Cashback monthly for six months, including the month you open your account, when you make 30 debit card payments or more each calendar month. You are eligible for Cashback on opening a new Spend & Save account, or changing from an existing TSB account, excluding Classic. See Cashback T&Cs.

Some people might be breaking the law, e.g. paying yourself less than a minimum wage doing 30 DC payment.

WillPS

Katiehound said:

So you are going to make 30 Debit card payments and 5 debit card payments to get an extra £5 x 2?

I suspect TSB will baulk at that one... but who knows....?



 

Why? TSB will earn a tiny bit every time the card is used.

It's the merchant who would care if anyone. I'm quite sure Amazon will have a sufficiently beneficial merchant agreement that they'll be able to afford £1 topups, but if they don't then they're welcome to increase the minimum amount or withdraw the auto topup facility.

pedrodelgado

Anyone got the £125 yet who only had active DD on account and not paid out DD? My Mrs got her bonus but had 2 DD paid out , not got mine yet but I only had one of my 3 active DD paid out. I know they have a few days left to pay it if they're going to.

OceanSound

pedrodelgado said:

Anyone got the £125 yet who only had active DD on account and not paid out DD? My Mrs got her bonus but had 2 DD paid out , not got mine yet but I only had one of my 3 active DD paid out. I know they have a few days left to pay it if they're going to.

I had a bunch of DD's transfered with the switch (about 10). None of them had paid out after account switch to tsb. Is that what you're asking?

The £125 bonus was still paid.

grizzlegrizzle

Katiehound said:

So you are going to make 30 Debit card payments and 5 debit card payments to get an extra £5 x 2?

I suspect TSB will baulk at that one... but who knows....?



 

Absolutely amazed at this response. I think you really haven't understood this situation at all. 

grizzlegrizzle

Bridlington1 said:

keiran said:

TSB certainly won't baulk about 30 tranx.   But the (eg) credit card company you use to pay tiny amounts 30 times may do. 
Capitalone closed my account with them after I'd done this (for several TSB accounts) last year . There could have been no other reason (although they refused to give any reason)

But I do wonder now, that if I'm doing 5 tranx for the "stay" incentive" , I might as well do another 25 (across different credit card payments) for the extra £5 for 6 months

You don't necessarily need to use credit cards. If you use amazon regularly, you could top up your amazon account by 10p 30 times to get the £5. 

Unfortunately the minimum top up for Amazon is £1 - otherwise this would be a great option. I always do a few £1 Amazon top ups for these transactions but don't always need to put £30 on my account. I think linking your debit card to your PayPal account and sending small amounts to a friend or family member is another possibility.