TSB up to £200 switch & stay offer - February 1 2023

Zanderman

flaneurs_lobster said:

PloughmansLunch said:

flaneurs_lobster said:

PloughmansLunch said:

BeachNut said:

flaneurs_lobster said:

AmityNeon said:

For third-party cashback specifically (Quidco/TCB), there is no requirement for debit card purchases, but if you're going to keep the account for four months to be eligible, it's better to also aim for the whole Switch & Stay offer, so you'll need 2x direct debits and 5x debit card purchases anyway.

Very good point, topping-up Amazon gift card balance it is.

The 5x card purchases can be from the same vendor, right? I don't see anything in the T&Cs that suggests otherwise.

Yes, I do 20 x £1 into an NS&I Direct saver

A question on the NS&I account please, does the nominated bank account named when the account is set up need to be the same account that the debit card is for or can any debit card be used to deposit?

I set up another TSB account as the switch offer came out a week after I’d already opened one, and have used both spend and save cards for the same NS&I saver. My user IDs haven’t been merged yet so had to approve the newer account payments via SMS

Good advice, NS&I saver set up in less than 5 minutes, 5 TSB debits done. How easy is withdrawal please, I'd like to use it for my Halifax £500 spend (Revolut has held my money one too many times) but don't want to leave the money with NS&I. 

The 5 TSB debits don't actually need to start until April:

To qualify for the additional £75 cashback, you need to do all of the following each month between 1 April 2023 and 30 September 2023: 

6. make at least 5 debit card payments per month (excluding cash withdrawals and bill payments made in a TSB branch) 7. pay at least £500 into your account each month
8. have a minimum of 2 active Direct Debits on your new Spend & Save or Spend & Save Plus account

Now (before 24th March) only one debit card transaction is needed:

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

Zanderman

financialbliss said:

@flaneurs_lobster - have you considered doing an extra five debit card "spends" for the £5 per month for the first six months? Is separate to the switching offer.

https://www.tsb.co.uk/current-accounts/cashback/

Extra 15 surely!

financialbliss

Oops - typo. I'll correct that. Not enough caffeine this morning...

flaneurs_lobster

Zanderman said:

flaneurs_lobster said:

PloughmansLunch said:

flaneurs_lobster said:

PloughmansLunch said:

BeachNut said:

flaneurs_lobster said:

AmityNeon said:

For third-party cashback specifically (Quidco/TCB), there is no requirement for debit card purchases, but if you're going to keep the account for four months to be eligible, it's better to also aim for the whole Switch & Stay offer, so you'll need 2x direct debits and 5x debit card purchases anyway.

Very good point, topping-up Amazon gift card balance it is.

The 5x card purchases can be from the same vendor, right? I don't see anything in the T&Cs that suggests otherwise.

Yes, I do 20 x £1 into an NS&I Direct saver

A question on the NS&I account please, does the nominated bank account named when the account is set up need to be the same account that the debit card is for or can any debit card be used to deposit?

I set up another TSB account as the switch offer came out a week after I’d already opened one, and have used both spend and save cards for the same NS&I saver. My user IDs haven’t been merged yet so had to approve the newer account payments via SMS

Good advice, NS&I saver set up in less than 5 minutes, 5 TSB debits done. How easy is withdrawal please, I'd like to use it for my Halifax £500 spend (Revolut has held my money one too many times) but don't want to leave the money with NS&I. 

The 5 TSB debits don't actually need to start until April:

To qualify for the additional £75 cashback, you need to do all of the following each month between 1 April 2023 and 30 September 2023: 

6. make at least 5 debit card payments per month (excluding cash withdrawals and bill payments made in a TSB branch) 7. pay at least £500 into your account each month
8. have a minimum of 2 active Direct Debits on your new Spend & Save or Spend & Save Plus account

Now (before 24th March) only one debit card transaction is needed:

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

Yep, realised that, just checking that everything works. Just means that there's now a fiver earning 2.85% rather than 3!

EDIT: ...however, if I follow @financialbliss 's hint and do another 15 £1 debits then a fiver would be mine from this month?

Please tell me that others have been doing this for months without TSB's or NS&I's algorithms having a hissy fit. 

PloughmansLunch

flaneurs_lobster said:

PloughmansLunch said:

flaneurs_lobster said:

PloughmansLunch said:

BeachNut said:

flaneurs_lobster said:

AmityNeon said:

For third-party cashback specifically (Quidco/TCB), there is no requirement for debit card purchases, but if you're going to keep the account for four months to be eligible, it's better to also aim for the whole Switch & Stay offer, so you'll need 2x direct debits and 5x debit card purchases anyway.

Very good point, topping-up Amazon gift card balance it is.

The 5x card purchases can be from the same vendor, right? I don't see anything in the T&Cs that suggests otherwise.

Yes, I do 20 x £1 into an NS&I Direct saver

A question on the NS&I account please, does the nominated bank account named when the account is set up need to be the same account that the debit card is for or can any debit card be used to deposit?

I set up another TSB account as the switch offer came out a week after I’d already opened one, and have used both spend and save cards for the same NS&I saver. My user IDs haven’t been merged yet so had to approve the newer account payments via SMS

Good advice, NS&I saver set up in less than 5 minutes, 5 TSB debits done. How easy is withdrawal please, I'd like to use it for my Halifax £500 spend (Revolut has held my money one too many times) but don't want to leave the money with NS&I. 

I haven’t tried withdrawal yet but seems to be pretty straightforward. I use Chip for my Halifax debit requirement. In and out in 3 working days, and the return to Halifax also counts as part of the minimum paying in requirement.

miller

flaneurs_lobster said:

I've just looked again at the TopCashback bit of the T&Cs and it says in one bit:

Make at least two debit payments out of your account each month

and a bit further down it says

Debit payments include online and mail order purchases, as well as in-store purchases (including contactless, Apple Pay and Google Pay), Direct Debits, Standing Orders, and Faster Payments.

so don't the two DDs transferred from the doner account count as the "two debit payments" or is there a requirement for two debit card purchases as well?

Yes, you're absolutely right - the DDs will cover TCB, mine wont fire at TSB this month and I wanted to get the TCB 3 out of 4 months part done. I was going to do a Skipton debit card payment just for the TSB £125 qualifier, but realised it might not count for TCB as a purchase (probably does, but wasn't sure).

liamcov

flaneurs_lobster said:

PloughmansLunch said:

BeachNut said:

flaneurs_lobster said:

AmityNeon said:

For third-party cashback specifically (Quidco/TCB), there is no requirement for debit card purchases, but if you're going to keep the account for four months to be eligible, it's better to also aim for the whole Switch & Stay offer, so you'll need 2x direct debits and 5x debit card purchases anyway.

Very good point, topping-up Amazon gift card balance it is.

The 5x card purchases can be from the same vendor, right? I don't see anything in the T&Cs that suggests otherwise.

Yes, I do 20 x £1 into an NS&I Direct saver

A question on the NS&I account please, does the nominated bank account named when the account is set up need to be the same account that the debit card is for or can any debit card be used to deposit?

I use mine for Natwest and RBS roundups so I'd guess not.

liamcov

flaneurs_lobster said:

PloughmansLunch said:

flaneurs_lobster said:

PloughmansLunch said:

BeachNut said:

flaneurs_lobster said:

AmityNeon said:

For third-party cashback specifically (Quidco/TCB), there is no requirement for debit card purchases, but if you're going to keep the account for four months to be eligible, it's better to also aim for the whole Switch & Stay offer, so you'll need 2x direct debits and 5x debit card purchases anyway.

Very good point, topping-up Amazon gift card balance it is.

The 5x card purchases can be from the same vendor, right? I don't see anything in the T&Cs that suggests otherwise.

Yes, I do 20 x £1 into an NS&I Direct saver

A question on the NS&I account please, does the nominated bank account named when the account is set up need to be the same account that the debit card is for or can any debit card be used to deposit?

I set up another TSB account as the switch offer came out a week after I’d already opened one, and have used both spend and save cards for the same NS&I saver. My user IDs haven’t been merged yet so had to approve the newer account payments via SMS

Good advice, NS&I saver set up in less than 5 minutes, 5 TSB debits done. How easy is withdrawal please, I'd like to use it for my Halifax £500 spend (Revolut has held my money one too many times) but don't want to leave the money with NS&I. 

Normally sent the day after. The difficulty is paying money into that account as it doesn't show as 'available' (and so withdrawable) for a good few days.

liamcov

The requirement to turn off all paper statements (correspondence too?) - which part of the TCB/account/switch terms is this for?

flaneurs_lobster

liamcov said:

The requirement to turn off all paper statements (correspondence too?) - which part of the TCB/account/switch terms is this for?

It's from the TopCashback requirements for cashback. There's also another requirement there I hadn't noticed before about having BACS set up as your payment method. Copied below:

• Cashback will only be paid to members who have BACS as their registered TopCashback payment.

• You will be eligible for the TopCashback cashback if you open a new TSB Spend & Save current account, you don’t have any other existing TSB current accounts and:
  1. Within the first 90 days of your account being open you register for Internet Banking, paperless statements and paperless correspondence
  2. Keep your account open for at least 120 days
  3. In three out of the first four calendar months after you’ve opened your account:
  (a) Pay in at least £500 each month
  (b) Make at least two debit payments out of your account each month