Earn 5.4% on TSB Classic Plus Account
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Earn 5.4% on TSB Classic Plus Account

72
Found 14th Mar
Don't know how this will go down lol..

Part 1:
TSB pay 3% on their Classic Plus Account (current account) on balances up to £1,500, which translates to £3.70 for a 30 day month.

The clause is that you have to pay in £500 per month, this can be a manual transfer from a different bank account each month- or you could set up a standing order. This £500 can be returned to the account it came from on the same day (either by standing order, or manually sending them back and fourth each month in the app).

Part 2:
They also pay £5 into your account each month if you have two active monthly direct debits attached to the account. To satisfy this condition- go to mariecurie.org.uk and donate two separate monthly direct debits for £1, the first scheduled to be taken on the 1st of each month, and the second to come out on the 15th of each month. So this process earns you a net £3 per month, and £2.00 to the charity.

Summary:
Yearly this gives a return of £36 (cash back) and £45 (interest), so a total of £81 per year on your £1,500.

5.4%

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Community Updates
Part 3 :

Another £5 every month if you spend with your debit card at least 20 times a month including Apple and Google Play. No minimum spend clause so you can spend £0.19 for paracetamol as one transaction
Check that you are eligible for Parts 2 and 3 as it's apparently for new customers or those who recently opened a current account with TSB. Not for every current account!
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    AgentDaleCooper4 h, 33 m ago

    I have this account, very good. However be warned, if you go over the …I have this account, very good. However be warned, if you go over the £1500, you don't get any interest


    If you read T&Cs carefully, you will learn that you don't get any interest on the amount ABOVE the £1500, which is a big difference to what you are saying.
    72 Comments
    Original Poster
    Obviously you could move the direct debits you already have to this account, but I preferred to keep this deal as standard as possible.
    I have this account and I believe you need direct debits to 2 different companies. Also you can get £60 a year by using the debit card 20 times a month. Beware of overdraft fee's if you use it too much!
    Will £5 Direct Debit work on existing accounts?
    Edited by: "Palwan" 14th Mar
    Original Poster
    Thanks for the tips guys. Maybe I should have clarified that I see this as more of a savings account and would open it as an additional account rather than switching for these purposes. The additional £5 for 20 transactions was a bit too much activity for me to warrant its worth as I wouldn’t usually use the card. Literally all the activity I want to do with the account is taking the cash back and interest out at the end of the month, and to move it to a different account.
    Original Poster
    If you set up the payment to be on different dates from the 1 company it should be fine
    m4shed11 m ago

    I have this account and I believe you need direct debits to 2 different …I have this account and I believe you need direct debits to 2 different companies. Also you can get £60 a year by using the debit card 20 times a month. Beware of overdraft fee's if you use it too much!


    I know they changed the interest rate from 5% to 3% recently but was this 20 times thing also a change? I'm sure it used to be spend £100 via contactless and get £5 (5%)?
    Is the £5 on two direct debits permanent, or one of those 'for the for 12 months only' offers? I only ask because I have a tsb account so might add two direct debits to them if its going to bag me a fiver a month.
    Edited by: "ihaveaquestion" 14th Mar
    Extra £5 is only for new accounts or recent accounts and ends in less than 12 months time, it's the bit that has been cut off from the description. Looks like it's for all the cashback offers, so for new customers only.
    Edited by: "superwilly" 14th Mar
    joelegs2 h, 28 m ago

    If you set up the payment to be on different dates from the 1 company it …If you set up the payment to be on different dates from the 1 company it should be fine



    I can confirm this , paypal dd's from 2 different paypal accounts works a treat
    FYI. Not all charity’s take £1 DD’s. Alzheimer’s and cancer research are two that do accept it
    I have this account, very good. However be warned, if you go over the £1500, you don't get any interest
    For anyone considering going with TSB, I switched a couple of years ago and have been very happy with their service and the helpfulness in branch. The staff really do go out of their way to help you and I've never had any issues with online banking. Speaking purely from experience I find them to be the best bank I've used over a forty year period. (And no, I don't work for them).
    Cashback offers end dates: 30 June 2018 for accounts opened 1 March 2017 to 7 January 2018 and 31 December 2018 for accounts opened from 8 January 2018. You must be registered for Internet Banking
    TSB.. advertises to be a different type of bank unlike the "big 4"... acts exactly the same.

    Good deal either way, just don't expect them to give 2 hoot if you have any problems with them.
    If I top up my Amazon account 20 times, £1 each time, would I get the £5?
    AgentDaleCooper1 h, 56 m ago

    I have this account, very good. However be warned, if you go over the …I have this account, very good. However be warned, if you go over the £1500, you don't get any interest


    I log in every three months (another stipulation to accrue interest) to my two accounts and I'm just over £1500 on both and still receiving interest of just over £3 each month.
    cheaperbythe1221 m ago

    I log in every three months (another stipulation to accrue interest) to my …I log in every three months (another stipulation to accrue interest) to my two accounts and I'm just over £1500 on both and still receiving interest of just over £3 each month.



    How did you manage to get two accounts when it's new customers only?
    Reebok.Ron1 h, 6 m ago

    How did you manage to get two accounts when it's new customers only?


    Opened both a few years ago when tsb allowed two accounts per person and two for joint too. Don't know if they still allow that which is a shame if not.
    AgentDaleCooper4 h, 33 m ago

    I have this account, very good. However be warned, if you go over the …I have this account, very good. However be warned, if you go over the £1500, you don't get any interest


    If you read T&Cs carefully, you will learn that you don't get any interest on the amount ABOVE the £1500, which is a big difference to what you are saying.
    AndyPr4 h, 7 m ago

    For anyone considering going with TSB, I switched a couple of years ago …For anyone considering going with TSB, I switched a couple of years ago and have been very happy with their service and the helpfulness in branch. The staff really do go out of their way to help you and I've never had any issues with online banking. Speaking purely from experience I find them to be the best bank I've used over a forty year period. (And no, I don't work for them).


    Just an ordinary bank with ordinary staff and ordinary offers.
    I use mine current accounts only because of that in-credit interest (and my laziness).
    Used to get one contactless cash back, but it stopped after a year.
    They do not offer good deals for existing customers (as any other bank though).
    So there is nothing to write home about really.
    It's not NatWest thought, just to keep it positive..
    I telephoned TSB and asked about this £5 a month for 2 DD

    I was told my account was opened before a particular date and I would not qualify for that

    Should I close my account and then open it again

    And for the 20 transaction a month I was antispating going into a charity shop and say can you charge me £0.01 on my debit card 20 times individually?

    Will that work?
    zararh6 h, 23 m ago

    I telephoned TSB and asked about this £5 a month for 2 DDI was told my …I telephoned TSB and asked about this £5 a month for 2 DDI was told my account was opened before a particular date and I would not qualify for thatShould I close my account and then open it againAnd for the 20 transaction a month I was antispating going into a charity shop and say can you charge me £0.01 on my debit card 20 times individually? Will that work?


    Me too. That’s pretty poor show 😡
    Setup a DD with PayPal and pay 1p a month to your so’s PayPal
    Be warned, their Android app is atrocious. They made people to force upgrade from a perfectly working app to a shiny new one that is orders of magnitude worse, and been rightfully slated in the app reviews for it. I'm happy I switched to Halifax in time.
    Been doing this for years fam, man moved his chedder doh cause switching pays more bread, get me?
    As stated for “new customers only” so once again existing customers suffer at the expense of new customers. Look after your existing customers. Less and less companies do that now!. Its no wonder people constantly switch banks/suppliers is it. Good deal if you can get it though. Thanks OP.
    The better plan is to keep ~£100 in the account and move £500 in and out and have the 2 DD’s for the £5. Then use Tesco as they are 3% interest on up to £6k (two accounts)
    thomasrykala47 m ago

    Be warned, their Android app is atrocious. They made people to force …Be warned, their Android app is atrocious. They made people to force upgrade from a perfectly working app to a shiny new one that is orders of magnitude worse, and been rightfully slated in the app reviews for it. I'm happy I switched to Halifax in time.


    I heard the same about the iPhone app and kept the old version as long as I could.
    Then I was forced to install the new one, and to be honest I don't have to complain, it works fine.
    zararh7 h, 38 m ago

    I telephoned TSB and asked about this £5 a month for 2 DDI was told my …I telephoned TSB and asked about this £5 a month for 2 DDI was told my account was opened before a particular date and I would not qualify for thatShould I close my account and then open it againAnd for the 20 transaction a month I was antispating going into a charity shop and say can you charge me £0.01 on my debit card 20 times individually? Will that work?



    That's a bit rough , asking a charity shop to deduct 1p from your card , 20 times. I'm not sure they would see that as an act of generosity to be honest and you would have to be pretty thick skinned to even ask.

    There is a much better option. Spend £20 or so on a Asda credit card and then pay £1 , 20 times online. Really easy to do and takes less than 15 minutes in total, from the comfort of your own home
    AhmadK7 h, 58 m ago

    If you read T&Cs carefully, you will learn that you don't get any interest …If you read T&Cs carefully, you will learn that you don't get any interest on the amount ABOVE the £1500, which is a big difference to what you are saying.



    My apologies. I was only going by what they told me when I enquired as to why I've never had any interest. I will ring them again think....
    lboro117 m ago

    The better plan is to keep ~£100 in the account and move £500 in and out a …The better plan is to keep ~£100 in the account and move £500 in and out and have the 2 DD’s for the £5. Then use Tesco as they are 3% interest on up to £6k (two accounts)


    May be better for you , not for everyone though.

    Tesco promo rate of 3% ends April '19, you need 3 direct debits in EACH account and £750 p/month deposited to EACH account to qualify.
    Apart from the iPhone app going AWOL for a few months (!) I've generally been pretty happy with their customer services and have stuck with them beyond the cashback incentives.
    This annoys me. TSB had an advert a couple of years ago saying that they did not discriminate against their old customers by only doing deals for new customers. Now they have come out with this. This is for new customers only. The stupid people ilke me who have been with them for 38 years don't get this. I would leave but can't be bothered with the hassle for the small amount of money involved.
    dinglebert20 m ago

    This annoys me. TSB had an advert a couple of years ago saying that they …This annoys me. TSB had an advert a couple of years ago saying that they did not discriminate against their old customers by only doing deals for new customers. Now they have come out with this. This is for new customers only. The stupid people ilke me who have been with them for 38 years don't get this. I would leave but can't be bothered with the hassle for the small amount of money involved.


    It's a myth that changing banks is a hassle. If you've got a good credit rating, a regular source of funding and pay a few direct debits every month, it's a breeze and there is some big money to be made for serial switchers. In the last 12 months alone I must have accrued over £1k. Then I have other accounts I don't move because of the monthly cashback, Coop & Barclay's, and others for their 5% regular savers. The game is on if you want to play. Like you said, loyalty counts for nowt! Just try it once.
    zararh8 h, 41 m ago

    I telephoned TSB and asked about this £5 a month for 2 DDI was told my …I telephoned TSB and asked about this £5 a month for 2 DDI was told my account was opened before a particular date and I would not qualify for thatShould I close my account and then open it againAnd for the 20 transaction a month I was antispating going into a charity shop and say can you charge me £0.01 on my debit card 20 times individually? Will that work?


    You must have asked them at the time while on phone?
    This is just for new accounts and will end in 30 June 2018.
    Those who alreahy has this account will not be eligible.
    dinglebert40 m ago

    This annoys me. TSB had an advert a couple of years ago saying that they …This annoys me. TSB had an advert a couple of years ago saying that they did not discriminate against their old customers by only doing deals for new customers. Now they have come out with this. This is for new customers only. The stupid people ilke me who have been with them for 38 years don't get this. I would leave but can't be bothered with the hassle for the small amount of money involved.


    Yes that was old independent TSB Bank promised that they don't discriminate, then it was then sold Banco Sabadell.

    New managemnet new rules
    Is it really worth the agro for such a small amount of money
    dinglebert54 m ago

    This annoys me. TSB had an advert a couple of years ago saying that they …This annoys me. TSB had an advert a couple of years ago saying that they did not discriminate against their old customers by only doing deals for new customers. Now they have come out with this. This is for new customers only. The stupid people ilke me who have been with them for 38 years don't get this. I would leave but can't be bothered with the hassle for the small amount of money involved.


    as pointed out, it is easy to switch, you lose nothing really.
    and forget your emotions here. it's a business. currently their rules are "new customers only", everywhere.
    become a new customer or stop whining, dead simple.
    OrangeAgent11 m ago

    Is it really worth the agro for such a small amount of money


    depends on you. some are ready to kill for a fiver
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