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TSB Spend & Save current account - Get £100 to Switch & Stay

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Hi there,

TSB is offering the below: https://www.tsb.co.uk/current-accounts/spend-and-save-account/

Get £100 to Switch & Stay

£50 for switching, then £50 to stay with either a Spend & Save or Spend & Save Plus account.*

To qualify for the £50 switch incentive, you will need to:

  • Open a new TSB Spend & Save or Spend & Save Plus account by 16/12/2022 and complete a full switch using the Current Account Switch Service by 13/01/2023
  • Log into the TSB Mobile Banking App by 13/01/2023
  • Make at least one debit card payment and have two active Direct Debits by 13/01/2023
To qualify for the £50 stay incentive you must complete all of the following each month between 01/02/2023 and 31/07/2023:
  • Make at least 5 debit card payments (excludes cash withdrawals and bill payments made in branch)
  • Pay at least £500 into your account
  • Have at least two active Direct Debits

Are these two parts connected (complete part 1 for £50 before you can do part 2 for another £50)? Will I be elegible for the stay incentive if I have not completed the first part and switche from somewhere else? 

Thinking of using £30 Quidco cashback, make 30 Paypal friends and family DD payments per month for the £5 cashback and if elegible rake in another £50 for the stay bonus alone. Should make me £110 in total. After that I use this as a dummy account to switch somewhere else for the next incentive.

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Comments

  • creditavenger
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    Good spot, but sadly the following clause in the associated T&C rules me, and I suspect loads of other MSErs, out.

    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 since 01 October 2022.
  • adindas
    adindas Posts: 6,851 Forumite
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    This is an inferior offer compared to previous switching and other bank switching incentive.
  • bristolleedsfan
    bristolleedsfan Posts: 12,166 Forumite
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    edited 15 December 2022 at 8:37PM
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  • pecunianonolet
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    adindas said:
    This is an inferior offer compared to previous switching and other bank switching incentive.
    I am aware of this but with Quidco cash back and a 5er a month for literally no work is still a good return and I need a current account for future offers to benefit more from switches. 

    Read that, doesn't answer my question. Need to know if the two elements of £50 depend on each other or if they are individually possible. I am unable to take the 50 for the switch part but could fulfil very easily the stay part.
  • Zanderman
    Zanderman Posts: 4,735 Forumite
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    edited 16 December 2022 at 9:38AM
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    Band7 said:
    Read that, doesn't answer my question. Need to know if the two elements of £50 depend on each other or if they are individually possible. I am unable to take the 50 for the switch part but could fulfil very easily the stay part.
    There is no Stay offer, only a Switch & Stay.
    Indeed.  This is very clearly an offer that requires a switch! 

    That's the whole point of the exercise - TSB want to gain, from another bank (and then keep, but firstly gain), current accounts.

    OP is clutching at straws to think otherwise.
  • liamcov
    liamcov Posts: 619 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
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    Has the offer now finished? Says account must be opened by 16 December?
  • RN61
    RN61 Posts: 154 Forumite
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    Good spot, but sadly the following clause in the associated T&C rules me, and I suspect loads of other MSErs, out.

    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 since 01 October 2022.
    TSB haven't always been very good at enforcing their own T&C. Including this one. 
  • WillPS
    WillPS Posts: 3,739 Forumite
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    edited 29 December 2022 at 3:03PM
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    RN61 said:
    Good spot, but sadly the following clause in the associated T&C rules me, and I suspect loads of other MSErs, out.

    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 since 01 October 2022.
    TSB haven't always been very good at enforcing their own T&C. Including this one. 
    They've never had that term before, nor any which determined a specific date.

    Prior to this autumn the last time TSB ran a switching incentive was pre-2018, when they migrated away from Lloyds' backend.

    This isn't to say you definitely won't get it but it's completely untested.
  • bristolleedsfan
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    WillPS said:
    RN61 said:
    Good spot, but sadly the following clause in the associated T&C rules me, and I suspect loads of other MSErs, out.

    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 since 01 October 2022.
    TSB haven't always been very good at enforcing their own T&C. Including this one. 


    Prior to this autumn the last time TSB ran a switching incentive was pre-2018, when they migrated away from Lloyds' backend.

    TSB ran refer a friend switching incentives 2018 - 2020  

    https://uk.search.yahoo.com/search?fr=mcafee&type=E210GB691G0&p=tsb+refer+a+friend
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