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

pecunianonolet
Posts: 1,710 Forumite

Hi there,
TSB is offering the below: https://www.tsb.co.uk/current-accounts/spend-and-save-account/
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.
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
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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.
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This is an inferior offer compared to previous switching and other bank switching incentive.
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adindas said:This is an inferior offer compared to previous switching and other bank switching incentive.bristolleedsfan said:0
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pecunianonolet 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.6
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Band7 said:pecunianonolet 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.
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.3 -
Has the offer now finished? Says account must be opened by 16 December?0
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creditavenger 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 2022.0 -
RN61 said:creditavenger 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.
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.0 -
WillPS said:RN61 said:creditavenger 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.
Prior to this autumn the last time TSB ran a switching incentive was pre-2018, when they migrated away from Lloyds' backend.
https://uk.search.yahoo.com/search?fr=mcafee&type=E210GB691G0&p=tsb+refer+a+friend
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