We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
TSB £160 + other perk switch offer 23/5/24-24/6/24
Comments
-
danny13579 said:Turnedoutniceagain said:Cheers. I have read that you can have more than 1 TSB current account but when I type in spend and save it goes to S&S plus. If I wasn't already getting the £5 cashback it might be simply opening another S&S CA and switching into this. The £5 cashback and because it's my main account complicates it for me. I could always ask in branch.0
-
danco said:Note that you have to make 20+ debit card payments a month to qualify for the cashback, and this includes the month in which the account is opened (see detailed T&Cs). I reckon it would be difficult to fulfill that condition if you opened the account now.danny13579 said:danco said:Note that you have to make 20+ debit card payments a month to qualify for the cashback, and this includes the month in which the account is opened (see detailed T&Cs). I reckon it would be difficult to fulfill that condition if you opened the account now.
[EDIT]: Debit card probably won't arrive until end of May (it doesn't show in app) and transactions take at least 2 working days to process so it probably is impossible if you open the account today to get cashback for May.
Easier to leave opening the account until early June if you want some breathing space to get your double cashback.
You think they would allow you to start the next month
I guess it only means you miss out on £10?0 -
Is it worth doing this one (never had TSB account) or waiting for another one in the future with better terms? £100 + so many hoops to jump through doesn't seem great.Is there a way to do the debit card transactions that means you are just transferring money to yourself and not paying for anything?1
-
Jwilson_2 said:Is it worth doing this one (never had TSB account) or waiting for another one in the future with better terms? £100 + so many hoops to jump through doesn't seem great.Is there a way to do the debit card transactions that means you are just transferring money to yourself and not paying for anything?
You cant "transfer" they have to be debit card payments.
You could buy 20 x £1 Amazon vouchers?2 -
Idpullthecurtain said:Seems unfair if you apply at the end of the month, you miss out on a month.
You think they would allow you to start the next month
I guess it only means you miss out on £10?
1 -
Jwilson_2 said:Is it worth doing this one (never had TSB account) or waiting for another one in the future with better terms? £100 + so many hoops to jump through doesn't seem great.Is there a way to do the debit card transactions that means you are just transferring money to yourself and not paying for anything?
For part 2 (if you decide to do it), 20 x £1 Amazon top-ups, this can even be automated in Amazon so it's £1 a day. A banana a day paid for using the debit card. Loads of different ways to do this.
Same for part 3 (if you decide to do it). 6 x peak-time adult tickets to my nearest Odeon comes to £51. 6 months Now Entertainment is £6.99 per month at their current offer price. Hotel room, no idea, maybe around £50?
To me it's a little extra effort to get some free cash or goodies out of the banks, rather than hoop jumping.1 -
Jwilson_2 said:Is it worth doing this one (never had TSB account) or waiting for another one in the future with better terms? £100 + so many hoops to jump through doesn't seem great.Is there a way to do the debit card transactions that means you are just transferring money to yourself and not paying for anything?
There are some savings account that let you pay by debit card, personally I use the NS&I direct saver to complete the 20 transactions if my grocery shops don't get me there.1 -
I had an offer in the past from TSB and I thought that 20 debit card transactions was a lot then I realised how quickly they add up. You just need to use it until they are spent then switch to using your normal account.
1 -
quicksilverfox said:Jwilson_2 said:Is it worth doing this one (never had TSB account) or waiting for another one in the future with better terms? £100 + so many hoops to jump through doesn't seem great.Is there a way to do the debit card transactions that means you are just transferring money to yourself and not paying for anything?
There are some savings account that let you pay by debit card, personally I use the NS&I direct saver to complete the 20 transactions if my grocery shops don't get me there.Thanks that's what I was really wondering. Compared to the £170-200 offers from other banks I was just curious if this was a low offer and worth using up my first TSB account.I've also read I can pay into Revolut for the transactions, if anyone has done this?0 -
The switch part of £100 is less than recent previous switch offers which were £125 (Jan 2023, Feb/March 2023, July/August 2023) or £150 (Sept/Oct 2023).Jwilson_2 said:Thanks that's what I was really wondering. Compared to the £170-200 offers from other banks I was just curious if this was a low offer and worth using up my first TSB account.
The stay part is the same 6 x £10 for 20 debit card payments per month for 6 months since Sept/Oct 2023. Prior to that it was £75 to stay for 6 months by doing 5 debit card payments per month, paying in £500 per month and having 2 active direct debits on the account. Prior again the stay part was £55 (Oct 2022).
The partner offer bit is new and seems to be worth around £50.
So this offer is worth about £210 in total which I think matches Sept/Oct 2023 (£150 to switch and £60 to stay), though the latter was all in cash whereas this offer is £160 cash and approx £50 in goodies.
I'm not sure it's going to get much better than that in future offers but other than TSB, who knows?
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.2K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.3K Spending & Discounts
- 240.7K Work, Benefits & Business
- 617K Mortgages, Homes & Bills
- 175.6K Life & Family
- 253.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards