TSB £180 switch offer

leeomendes

fly-catchers said:

leeomendes said:

Anyone else still hasn't received their cashback? Seems like payday was 09/12, did anyone receive it on a different date? 

No sign of mine yet. Though the date due by for me was this Friday 16th. Though it does look as if others got it earlier! So keeping my fingers crossed. 

Same, hopefully it turns 

Alex9384

grizzlegrizzle said:

I had been planning on jumping through the hoops for the extra £55 but after transferring £500 to TSB they blocked the transfer back to my main account (already a confirmed payee!) and locked me out of my TSB account. When I phoned TSB they said they can't unblock the payment on the phone and it will require a visit into branch. 

Welcome to TSB

I was locked out 4x in just over a month from account opening, only for sending money to my own accounts, so you can expect being locked out regularly. Seems like once they start doing that, they simply can't stop.

Alex9384

WillPS said:

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

I was wondering why they don't just require certain amount spend each month, like Halifax?

Is there any benefit to the bank if you make 30 card purchases of £1 (so £30 in total), rather than 1 purchase of £100 ?

masonic

Alex9384 said:

WillPS said:

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

I was wondering why they don't just require certain amount spend each month, like Halifax?

Is there any benefit to the bank if you make 30 card purchases of £1 (so £30 in total), rather than 1 purchase of £100 ?

It depends on the commercial arrangement with the card scheme. A requirement for lots of transactions suggests a per transaction incentive is earned rather than/in addition to a percentage-based incentive. Or it could just be that TSB considers 30 transactions per month to be a better indicator of someone using as their main account than a high value 'spend' per month. If the latter, then someone like me, who even when putting everything possible through one card for cashback, doesn't come close to 30 in a month but could comfortably exceed a genuine £500 spend.

Alex9384

masonic said:

It depends on the commercial arrangement with the card scheme. A requirement for lots of transactions suggests a per transaction incentive is earned rather than/in addition to a percentage-based incentive. Or it could just be that TSB considers 30 transactions per month to be a better indicator of someone using as their main account than a high value 'spend' per month. If the latter, then someone like me, who even when putting everything possible through one card for cashback, doesn't come close to 30 in a month but could comfortably exceed a genuine £500 spend.

Thanks. By incentive you mean that Visa/MC give TSB a discount or perhaps pay them back something after reaching certain number of payments per month? I can't see how buying one coffee (and nothing else) for £2.50 every day can make them any interesting money. Yeah, an indication of using it as the main account seems like a better explanation to me.

Just like you, I can spend hundreds on my Amex, but never come close to 30 transaction. That requirement is nuts. Are there lots of people who actually make that many card purchases each month?

Katiehound

Even with my main account I hardly use the debit card preferring to use the CC which gives me teeny reward and then only one payment as a DD once a month. I might struggle to find 5 let alone 30!

I reckon TSB must think that a 'main'account should involve that many transactions.seems a bit OTT

masonic

Alex9384 said:

masonic said:

It depends on the commercial arrangement with the card scheme. A requirement for lots of transactions suggests a per transaction incentive is earned rather than/in addition to a percentage-based incentive. Or it could just be that TSB considers 30 transactions per month to be a better indicator of someone using as their main account than a high value 'spend' per month. If the latter, then someone like me, who even when putting everything possible through one card for cashback, doesn't come close to 30 in a month but could comfortably exceed a genuine £500 spend.

Thanks. By incentive you mean that Visa/MC give TSB a discount or perhaps pay them back something after reaching certain number of payments per month? I can't see how buying one coffee (and nothing else) for £2.50 every day can make them any interesting money. Yeah, an indication of using it as the main account seems like a better explanation to me.

Just like you, I can spend hundreds on my Amex, but never come close to 30 transaction. That requirement is nuts. Are there lots of people who actually make that many card purchases each month?

Merchants pay fees for accepting debit card payments, which are apportioned between various parties, including the issuing bank. My understanding is that is mostly percentage-based, rather than fixed transaction fee plus percentage fee. Usage metrics will no doubt feature in price negotiations with Visa, but who knows whether any of that has any bearing on this 30 transaction requirement for the free fiver.

I imagine some people can easily make 30+ debit card transactions per month. If every weekday they buy a coffee on the way in to work and pop out to buy lunch, that alone would add up to over 40 transactions per month. Substitute in a contactless tube or bus journey... very easy for some.

adindas

Katiehound said:

Even with my main account I hardly use the debit card preferring to use the CC which gives me teeny reward and then only one payment as a DD once a month. I might struggle to find 5 let alone 30!

I reckon TSB must think that a 'main'account should involve that many transactions.seems a bit OTT

Rofl. Quite a few people on MSE quite doable with trick if you determine to do that. But like you I also give up. I might do that for £25 not £5.

OceanSound

Katiehound said:

Even with my main account I hardly use the debit card preferring to use the CC which gives me teeny reward and then only one payment as a DD once a month. I might struggle to find 5 let alone 30!

I reckon TSB must think that a 'main'account should involve that many transactions.seems a bit OTT

What CC would you use say if you were buying a daily coffee priced at £2.75? And what is the reward they offer? a percentage of the transaction in  cashback or something else?

WillPS

Katiehound said:

Even with my main account I hardly use the debit card preferring to use the CC which gives me teeny reward and then only one payment as a DD once a month. I might struggle to find 5 let alone 30!

I reckon TSB must think that a 'main'account should involve that many transactions.seems a bit OTT

Literally never use any of my debit card except for the purposes of cash withdrawals/pay ins (which don't count anyway) and fulfilling reward criteria if Halifax dropped their reward my Visa/Mastercard Debit spend would be 0.