TSB Dream Fund Prize Draw (September 2025)

flaneurs_lobster

danny13579 said:

flaneurs_lobster said:

This "free method" of entering a draw seems to be a requirement of the gaming legislation that governs this type of giveaway. NatWest are running something similar at the moment for one of their investment products. They allow the free entry to be by email.

The strange thing is that the "free method" of entering this costs more than the £5,000 method.

If you have £5,000 somewhere that you can move into/out of a TSB account for 10 minutes at the end of September/beginning of October it costs you nothing to get one entry.

The postal method or "free method" costs at least 87p for the stamp.

That £5k would need to be in the TSB account before their EoD processing kicks in and stay there until the systems have rolled over to 1 Oct. Realistically you'd need it in TSB 30Sep during the day and take it out sometime on 01Oct. 

Assuming that £5k is otherwise sitting at 5% somewhere, it's going to cost you 68p in lost interest, less 14p if it's paid into a TSB 1% easy access.

But yes, still cheaper than a stamp. 

danny13579

clairec666 said:

Presumably enough information for someone to set up a direct debit from your account? I wouldn't put that information on a postcard.

Which can be cancelled and refunded under the direct debit mandate guarantee. I mean, at what point does being secure become being paranoid?

I'll take my chances with the postcard. 

Hattie627

I can't remember when I last sent a postcard (not the type with a nice picture on one side of where I am holidaying). Are blank postcards still sold these days? It's probably at least 25 years since I last sent one. 

danny13579

Hattie627 said:

I can't remember when I last sent a postcard (not the type with a nice picture on one side of where I am holidaying). Are blank postcards still sold these days? It's probably at least 25 years since I last sent one. 

They most certainly are and I love sending them, and letters too. So much more personal and thoughtful than email, text etc. The old fashioned stuff is making a comeback. Landlines, vinyl record players, letters and postcards, board games. Many people are also getting back into more enjoyable and possibly old fashioned pursuits such as reading, knitting and chatting (in person) as they try to cut down their social media use and focus on their mental health and wellbeing.

But I'm getting way off topic now! 

dcs34

Is it clear how long the deposits have to be in there for? By my reckoning "at least 1 October 2025" does NOT have the same meaning as "11:59pm on 30 September 2025" (there are at least 59 seconds in between!!). 

It's a shame their T&Cs can't be clearer about how long the deposit needs to be in there - the T&Cs only refer to the end of the Promotion Period but that's really about making the deposits. For safety I'd assume a withdrawal on 1st October is what they'll allow but would probably give it a day or so extra to be sure. 

danny13579

dcs34 said:

Is it clear how long the deposits have to be in there for? By my reckoning "at least 1 October 2025" does NOT have the same meaning as "11:59pm on 30 September 2025" (there are at least 59 seconds in between!!). 

It's a shame their T&Cs can't be clearer about how long the deposit needs to be in there - the T&Cs only refer to the end of the Promotion Period but that's really about making the deposits. For safety I'd assume a withdrawal on 1st October is what they'll allow but would probably give it a day or so extra to be sure. 

To be on the safe side I wouldn't chance depositing the £5,000 at 11.59pm on 30th September and withdrawing it at 12:00am or 12:01am on 1st October. I would deposit it early on in the day on the 30th and probably remove it in the early hours of the 2nd October. Leave it there for at least 24 hours. Even if it means losing an extra day's interest from not being in a higher rate account.

subjecttocontract

What a palaver.......I'm taking the more relaxed route. I've posted my entry 2nd class today.

friolento

Extreme money saving: If you can fund your £5k from one or two of the Cahoot savings accounts: send your money after 20:30ish on Sept 30, and before TSB end of day (which I don't know what exactly it is but seems to be not before 21:30). The money will be sent instantly but will be debited from your Cahoot account(s) on October 1, credited to TSB on Sept 30. Then send  the lot back on October 1 before 20:15, as it will then again count towards your Cahoot balance on October 1. You can test it out beforehand with £1 transactions.

Would work similarly with Santander.

flaneurs_lobster

Earning interest twice on the same money in two different accounts is fraud. In this example however the TSB account may not be interest bearing or be earning less than leaving it where it was, and anyways the amounts involved are pennies.

Try this with proper amounts of money and you'll be flagged for de-banking soonest. 

friolento

flaneurs_lobster said:

Earning interest twice on the same money in two different accounts is fraud. 

By which law?

Aside from this, if you move the money into a TSB current account, it will earn zilch interest in that account.