TSB £180 switch offer

Yorkshire_Pud

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?

Not if you want the additional £55

Yorkshire_Pud

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

Yes at first I thought I’m not eligible because I received cashback for opening an account but I’ve never had an incentive to Switch in to tsb. SoI will give it a go. Still as it’s tsb there is a lot of leeway for things to go strangely awry.

Yorkshire_Pud

Well I just applied successfully but problems (surprise not)
Address finder doesn’t work even though input postcode three times, did manually
At end invited to click a “Simple and stress free way to move everything across from your old bank” as per the Choose to switch to us when you apply stipulation for the incentive and takes me to a page saying Switch to us without the fuss” nothing to click on page doesn’t load up can’t continue to switch.
USELESS TSB as ever they can’t get everything right even the tech ‘gurus’ or whatever they call themselves. 

Using an iPad. 

So successful or not apply to switch later and still get the incentives or not. Will tsb know? Of course not. Do everything right and tsb will still let you down.

You also have to give a new password and ID even if you are an existing customer for online banking which their ‘genius’ gurus will amalgamate within ten days. 🤔 tsb also send an activation code through the post for your temporary account log in. Uurgh.

changearound1

Yorkshire_Pud said:

So successful or not apply to switch later and still get the incentives or not. Will tsb know? Of course not. Do everything right and tsb will still let you down.

The Terms & Conditions don't state that the switch has to be done at the same time as opening the account.

It's mentioned on the affiliate landing page under 'How Do I Switch To TSB' but it doesn't say it's compulsory - 'choose to' rather than 'must' used for the cut off dates - so in theory you should be alright to open an account now and start the switch in a couple of weeks. Whether TSB will be able to match up both stages is another matter.

Would I be right in thinking that the DDs never need to be taken to get both the £125 and £55 - just need to be added to the account by 18th Nov and stay there until the end of May?

I don't think they have to be part of the switch either.

Edit: Thanks to k-man for pointing out my error in his following post - DDs clearly need to be part of the switch.

k_man

changearound1 said:

Yorkshire_Pud said:

So successful or not apply to switch later and still get the incentives or not. Will tsb know? Of course not. Do everything right and tsb will still let you down.

The Terms & Conditions don't state that the switch has to be done at the same time as opening the account.

It's mentioned on the affiliate landing page under 'How Do I Switch To TSB' but it doesn't say it's compulsory - 'choose to' rather than 'must' used for the cut off dates - so in theory you should be alright to open an account now and start the switch in a couple of weeks. Whether TSB will be able to match up both stages is another matter.

Would I be right in thinking that the DDs never need to be taken to get both the £125 and £55 - just need to be added to the account by 18th Nov and stay there until the end of May?

I don't think they have to be part of the switch either.

See extract from Terms below, active usually means being taken (normally these need to be at least monthly, but you can take your chances).
Also specifies that donor account needs to include the active DDs already.
Again, you could take a chance.

https://www.tsb.co.uk/tsb-current-account-switch-offer-terms-and-conditions.pdf

By 18 November 2022 you must do all of the

following:

2. complete a full switch to your new TSB Spend & Save or Spend & Save Plus account using the Current

Account Switch Service

– a full switch means you need to transfer all active

credits and debits from your old account and close it. This must include a minimum of two active

Direct Debits

3. make a minimum of one payment using the debit card on your new Spend & Save or Spend & Save

Plus account

4. log into Internet Banking or the TSB Mobile Banking App at least once

5. have a minimum of 2 active Direct Debits on your new Spend & Save or Spend & Save Plus account

If you’ve done all these things we’ll pay £125 cashback into your new Spend & Save or Spend & Save Plus account by 16 December 2022.

changearound1

Oops. You're quite right, the DDs clearly need to be part of the switch. Condition 5 threw me.

On the point of whether the DDs need to be paying out every month or not I suppose it boils down to what makes a DD active - paying out or  being set up on the account and being able to pay out. Most DDs  are paid monthly anyway but annual DDs are still classified as being active for the other 11 months of the year.

Does point 5 mean the DDs have to have paid out by Nov 18 or be set up onthe account? If you applied for the TSB account in late October it would be quite difficult to get DDs to pay out by Nov 18.

k_man

I think point 5 just means you can't cancel the DDs straight after switching.

Yorkshire_Pud

changearound1 said:

Yorkshire_Pud said:

So successful or not apply to switch later and still get the incentives or not. Will tsb know? Of course not. Do everything right and tsb will still let you down.

The Terms & Conditions don't state that the switch has to be done at the same time as opening the account.

It's mentioned on the affiliate landing page under 'How Do I Switch To TSB' but it doesn't say it's compulsory - 'choose to' rather than 'must' used for the cut off dates - so in theory you should be alright to open an account now and start the switch in a couple of weeks. Whether TSB will be able to match up both stages is another matter.

Would I be right in thinking that the DDs never need to be taken to get both the £125 and £55 - just need to be added to the account by 18th Nov and stay there until the end of May?

I don't think they have to be part of the switch either.

I need to read up properly I just hope that it was enough to get the account number and sort code and overdraft using the mse link.  If not yet another tsb complaint will be coming their way £££!

I take ‘active’ dd to mean a dd that ‘could’ be taken if the debiting side is entitled to, i.e. still live and not lapsed as can happen if not debited at all after 12 months say.

Ive heard some say that the debit needs to have been paid at least once by the account being switched to be recognised as active by the new bank, I don’t know if this is true it’s open to debate. But if you can set dd up after switching then all it has to do is exist as a jDD to be active? I’d definitely use the dd as tsb will have an excuse not to pay out as failure to baptise the dd means it’s not active?

My two direct debits have paid out many times on my switch account but aren’t due to pay next month but I can’t see that being a problem.

changearound1

So the DDs could be classed as Active without having paid out?

Not trying to be a smart !!!!!! - just pointing out the terms are a tad opaque.

Yorkshire_Pud

Yes as long as they appear in the list of DDs in your account they are active they would have to stipulate they must have paid out if that is that is a condition of the offer. If you create DDs after the switch they won’t pay out before the cut off dates and payment by 16 Dec (probably) therefore a debit that is debitable is active. I think!