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    • Gspree
    • By Gspree 12th May 18, 3:35 PM
    • 18Posts
    • 16Thanks
    Gspree
    When do TSB current account rewards end?
    • #1
    • 12th May 18, 3:35 PM
    When do TSB current account rewards end? 12th May 18 at 3:35 PM
    I switched to a TSB current account in November 2017, at the time the deal was that the 3% interest and the x2 5 cashback incentive earned each month would be paid 'until June 2018'.

    Now... I usually receive the cashback into my account on the 14th of the following month after which it was earned. Does this mean I need to stay until 14th July? I'm not sure if 'until June' means 'up to and including June'?

    If there won't be any cashback earned during the month of June I can hop over to Barclays for their new current account switch deal

    Thanks in advance
Page 1
    • ValiantSon
    • By ValiantSon 12th May 18, 3:56 PM
    • 2,193 Posts
    • 2,065 Thanks
    ValiantSon
    • #2
    • 12th May 18, 3:56 PM
    • #2
    • 12th May 18, 3:56 PM
    The cashback will be earned on June's transactions, so your account will need to be open until July. Don't forget, however, that the in-credit interest continues to be paid after this as it is a permanent account feature, and the rate has just increased to 5%.

    Why not open a second account and move two direct debits to it, then switch that to Barclays? That way you will get the Barclays offer and still have 5% interest on 1,500 with TSB.
    • Gspree
    • By Gspree 12th May 18, 4:45 PM
    • 18 Posts
    • 16 Thanks
    Gspree
    • #3
    • 12th May 18, 4:45 PM
    • #3
    • 12th May 18, 4:45 PM
    The cashback will be earned on June's transactions, so your account will need to be open until July. Don't forget, however, that the in-credit interest continues to be paid after this as it is a permanent account feature, and the rate has just increased to 5%.

    Why not open a second account and move two direct debits to it, then switch that to Barclays? That way you will get the Barclays offer and still have 5% interest on 1,500 with TSB.
    Originally posted by ValiantSon
    Thank you! Ahh I didn't realise the interest was a permanent feature once the cashback ends! I do have an idle Natwest account following their incentive a couple of months back so might look to move that instead.

    Isn't the 5% interest boost on the TSB account only temporary or until further notice?

    • eskbanker
    • By eskbanker 12th May 18, 5:11 PM
    • 7,536 Posts
    • 8,171 Thanks
    eskbanker
    • #4
    • 12th May 18, 5:11 PM
    • #4
    • 12th May 18, 5:11 PM
    Isn't the 5% interest boost on the TSB account only temporary or until further notice?
    Originally posted by Gspree
    The latter, they said that it wouldn't be taken away after a year, although that phrasing is unfortunately ambiguous!
    • Merlin139
    • By Merlin139 12th May 18, 5:38 PM
    • 4,897 Posts
    • 19,786 Thanks
    Merlin139
    • #5
    • 12th May 18, 5:38 PM
    • #5
    • 12th May 18, 5:38 PM
    Thanks for letting me know. They never told me it was a temporary 5 incentive. Will be moving to another account in July but maintaining 1500 for the 5%
    • ValiantSon
    • By ValiantSon 12th May 18, 6:09 PM
    • 2,193 Posts
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    ValiantSon
    • #6
    • 12th May 18, 6:09 PM
    • #6
    • 12th May 18, 6:09 PM
    Thank you! Ahh I didn't realise the interest was a permanent feature once the cashback ends! I do have an idle Natwest account following their incentive a couple of months back so might look to move that instead.

    Isn't the 5% interest boost on the TSB account only temporary or until further notice?

    Originally posted by Gspree
    All interest rates are, "until further notice". In this particular instance the CEO has said that the rate will not be dropped after a year. While that doesn't guarantee it forever, it does mean that at the absolute minimum it should last at least for 13 months, and my suspicion is it will actually be a bit longer than that.
    • ValiantSon
    • By ValiantSon 12th May 18, 6:12 PM
    • 2,193 Posts
    • 2,065 Thanks
    ValiantSon
    • #7
    • 12th May 18, 6:12 PM
    • #7
    • 12th May 18, 6:12 PM
    Thanks for letting me know. They never told me it was a temporary 5 incentive. Will be moving to another account in July but maintaining 1500 for the 5%
    Originally posted by Merlin139
    They did. The terms were clearly advertised on their site as part of the headline features, just as they currently are (with a cashback incentive that lasts until December): https://www.tsb.co.uk/current-accounts/
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