TSB Spend & Save Switch. Start 15th Jan End 31st Jan 24

SickGroove

Anyone confirm what date the cashback bonus gets paid? I've just done 20 Amazon £1 top ups, so plan to do that again for the next 5 months...if it works !

Ed-1

SickGroove said:

Anyone confirm what date the cashback bonus gets paid? I've just done 20 Amazon £1 top ups, so plan to do that again for the next 5 months...if it works !

8th of the month (or next working day)

carmina_piranha

My son has just done this switch and we are wondering if his Oxfam direct debit will count as active? Set up around 10 weeks ago, it's set up in his bank but they haven't started taking money yet. His switch has started so it's too late to get a different one set up on his old bank account. 

Googling suggests it might count by being set up, but you guys seem like experienced switchers who will be able to give me a definite answer. 

Brewer21

carmina_piranha said:

My son has just done this switch and we are wondering if his Oxfam direct debit will count as active? Set up around 10 weeks ago, it's set up in his bank but they haven't started taking money yet. His switch has started so it's too late to get a different one set up on his old bank account. 

Googling suggests it might count by being set up, but you guys seem like experienced switchers who will be able to give me a definite answer. 

You can set-up the direct debits after the account has opened, that's what I'm doing. Not sure about your current one on the account you are switching, switch terms say you must have 2 active DD's on the account by 15th march. Other terms apply too, read their T&C's re the incentive payment.

Largs

carmina_piranha said:

My son has just done this switch and we are wondering if his Oxfam direct debit will count as active? Set up around 10 weeks ago, it's set up in his bank but they haven't started taking money yet. His switch has started so it's too late to get a different one set up on his old bank account. 

Googling suggests it might count by being set up, but you guys seem like experienced switchers who will be able to give me a definite answer. 

Hi.  I have a Direct Debit to Littlewoods and they have never claimed on it as the items I buy are buy now pay later and I pay them off manually.  When I move bank accounts this moves too and is considered "active" in terms of getting the payment from the bank, so I am sure you will be fine.

WillPS

Hoping this offer sticks around until next Thursday (1st), if it does I'll have a go.

pastmysellby

A warning to anybody switching over from Barclays.  I had a rainy day saver with Barclays which you can only have if you have the current account (I think).  I expected the money from it to be transferred along with the balance of the current account when my switch went ahead today.  How wrong I was.  The money is still in the account and I can't transfer it out as I don't have an eligible Barclays account to transfer it to anymore.  Taking bets on how long it will take to actually get my money.  Currently on a very slow online chat with Barclays.

PRAISETHESUN

pastmysellby said:

A warning to anybody switching over from Barclays.  I had a rainy day saver with Barclays which you can only have if you have the current account (I think).  I expected the money from it to be transferred along with the balance of the current account when my switch went ahead today.  How wrong I was.  The money is still in the account and I can't transfer it out as I don't have an eligible Barclays account to transfer it to anymore.  Taking bets on how long it will take to actually get my money.  Currently on a very slow online chat with Barclays.

This is fairly standard for any bank, not just Barclays/TSB. The clue is in the name though, Current Account Switch Service. Only the current account you nominate during the switch process will be moved, and any additional current accounts, savings accounts, credit cards, etc will remain untouched. I feel your pain getting money out of Barclays as I had issues several years ago in a similar situation where they closed a new current account shortly after it was opened effectively trapping my money. One complaint and several branch visits later and they basically gave me a wad of cash and said "see you later" 

WillPS

One option is to just open a 'normal' savings account or if that's not possible then a current account with them  and withdraw it that way (keep it in reserve for a future swittching bonus). But yes, as a rule of thumb it's wise to close down any products reliant on holding a current account yourself with any bank before a CASS. Unconnected savings accounts (i.e. savings accounts which you can make external payments from) should continue to work fine though.

I had a similar situation with an HSBC savings account which was orphaned with a tiny balance after I CASS'ed away last year. I got it sorted with a branch visit but it was an annoyance.

pastmysellby

PRAISETHESUN said:

This is fairly standard for any bank, not just Barclays/TSB. The clue is in the name though, Current Account Switch Service. Only the current account you nominate during the switch process will be moved, and any additional current accounts, savings accounts, credit cards, etc will remain untouched. I feel your pain getting money out of Barclays as I had issues several years ago in a similar situation where they closed a new current account shortly after it was opened effectively trapping my money. One complaint and several branch visits later and they basically gave me a wad of cash and said "see you later" 

I'm normally on the ball with transfers and have previously moved savings into the current account before a current account switch.  I should have been more proactive. Have spent a loooong time on a chat this morning, asking them to close my savings account and transfer the funds.  Four hours later I was told they had tried closing the account and were getting an error as the funds could not be transferred.