NEW! TSB Classic Plus '555' Current Account - Now 5% cashback on contactless purchases (in addition to 5% interest on balance and 5% regular savings account)
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NEW! TSB Classic Plus '555' Current Account - Now 5% cashback on contactless purchases (in addition to 5% interest on balance and 5% regular savings account)

243
Found 2nd Sep 2015
The TSB Classic Plus current account is already a fantastic bank account, offering 5% interest on balances up to £2000 (as long as £500 enters the account each month).

It also offers an almost-market-leading regular savings account paying 5% interest where you can save up to £250 each month.

Now as well as that the account will offer 5% cashback on up to £100 of contactless purchases every month (eg £5/month = £60/year per account) until the end of 2016.

No minimum monthly pay-in is required to be eligible for cashback. The benefit is automatic providing you have a contactless debit card and are registered for internet banking - you do not need to enroll or activate the offer.

Someone taking advantage of all three would earn about £200 a year after basic rate tax.

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243 Comments
That's amazing
So you make around 7-8 quid a month on this?
Can I ask where did you find this out? I can't see it on their website in account features....?
MadonnaProject

So you make around 7-8 quid a month on this?


Interest after 20% tax is around £6-7 a month, so you could now earn an additional £5 a month on top.
BustaLinx

Interest after 20% tax is around £6-7 a month, so you could now earn an … Interest after 20% tax is around £6-7 a month, so you could now earn an additional £5 a month on top.



Thank you. Oh why can't we have multiple 123 accounts? Almost as though they don't want you to make money in our country.
The contactless limit has been increased to £30 as of this month

Heat added
MadonnaProject

Thank you. Oh why can't we have multiple 123 accounts? Almost as though … Thank you. Oh why can't we have multiple 123 accounts? Almost as though they don't want you to make money in our country.


You can have three between a couple.
They haven't info'd me yet - but if true might have to try this contactless lark , as I already have 2 accounts with them . Might change the way I purchase stuff -isn't it up to £30 transaction now ?
rogparki

They haven't info'd me yet - but if true might have to try this … They haven't info'd me yet - but if true might have to try this contactless lark , as I already have 2 accounts with them . Might change the way I purchase stuff -isn't it up to £30 transaction now ?


Yep as of yesterday.

Apple Pay is coming later this year; that can in theory have no limit.
Very nice
Thanks BustaLinx
BustaLinx

Yep as of yesterday.Apple Pay is coming later this year; that can in … Yep as of yesterday.Apple Pay is coming later this year; that can in theory have no limit.


Hopefully not on my moto g -I've only just learned how to text -let alone make a phone call oO
BustaLinx

You can have three between a couple.



Me seen a documentary about that on babestation aiii.
Heat added
BustaLinx

Yep as of yesterday.Apple Pay is coming later this year; that can in … Yep as of yesterday.Apple Pay is coming later this year; that can in theory have no limit.



apply pay is already released
keiran5517

apply pay is already released


I was referring to TSB specifically, should have been clearer.
tsb.co.uk/app…ay/
Its crazy our banks are being owned by the Spanish, we bailed them and the US debts out via ours via the taxpayer.
Was thinking of transferring from Barclays to either this New Account or First Direct... Are first direct still doing the £125 when you Join? And what are the main differences between this TSB Account & First Direct one?
Do you need to do any settings on internet banking (or ask to join) to enjoy this offer?
ftbf444

Do you need to do any settings on internet banking (or ask to join) to … Do you need to do any settings on internet banking (or ask to join) to enjoy this offer?


According to the moneysupermarket website, no you don't have to. It's activated automatically as long as you:

Have a Classic Plus account.
Have a TSB contactless debit card and make contactless payments using it. TSB says it issues contactless debit cards as standard.
Be registered for internet banking.
Marky264

Was thinking of transferring from Barclays to either this New Account or … Was thinking of transferring from Barclays to either this New Account or First Direct... Are first direct still doing the £125 when you Join? And what are the main differences between this TSB Account & First Direct one?


The first direct offer is now £150 via moneysupermarket .
Marky264

Was thinking of transferring from Barclays to either this New Account or … Was thinking of transferring from Barclays to either this New Account or First Direct... Are first direct still doing the £125 when you Join? And what are the main differences between this TSB Account & First Direct one?



Yes, FD is currently having the £125 switching offer. First Account allows you to get access to a 12-month regular saver account with 6% interest whereby you can save up to £300 each month.

TSB account gives you 5% interest on balance up to £2000, 5% interest on a 12-month regular saver where you can save up to £250 a month, and the 5% cashback offer for up to £100 spend a month.

In terms of account usability, TSB trumps FD for it's ease of use in online banking and mobile banking.

I can confirm the 5% interest is £100 over a year if you don't pay tax but the additional 5% is something I know nothing about.

You can have a sole account and a joint but you can only set up the joint in branch.
to earn £100 you would jave to have a minimum £2k balance in the account
monthly saver is 5% as well. save between £25 and £250 pm but can only be changed by amending the standing order. you cannot add money at will. but you get instant access if required
BustaLinx

You can have three between a couple.


Thats true, i have one, hubby has one and then we have a joint account.
Is this account free or there is a monthly fee?
Just signed up, and can confirm no fee on this account. I've been with TSB for years on a classic account and didn't know this existed!
Sounds great. Hubby and i opened the accounts when it first launched so have 5 accounts between us. Does that mean the contactless 5% is per person or per account please?
Never used contactless payment, whats the maximum allowed to pay and do morrisons accept this?
whats the £10monthly control fee on there website??
£30 per transaction for wireless payment
pookey1

Sounds great. Hubby and i opened the accounts when it first launched so … Sounds great. Hubby and i opened the accounts when it first launched so have 5 accounts between us. Does that mean the contactless 5% is per person or per account please?



Yes, I think (me and my wife also have 5 accounts between us). Each account should get you 5% for the first £100 spend. Having said that it was launched just yesterday so many things will be unclear.
Anyone know if there are any restrictions, e.g the tube
Marky264

Was thinking of transferring from Barclays to either this New Account or … Was thinking of transferring from Barclays to either this New Account or First Direct... Are first direct still doing the £125 when you Join? And what are the main differences between this TSB Account & First Direct one?



​If you transfer to tsb through uswitch you get £100 only through uswitch though
robot1000

Anyone know if there are any restrictions, e.g the tube



​yes, only certain organisations take contactless payments and £30max transaction
Any sign up or transfer offers around for this?
AstalaVista

Yes, I think (me and my wife also have 5 accounts between us). Each … Yes, I think (me and my wife also have 5 accounts between us). Each account should get you 5% for the first £100 spend. Having said that it was launched just yesterday so many things will be unclear.


Thanks a lot. If it's per account he'll be in trouble for not opening the 6th acc like i told him to
If only I didn't have a bad experience with the Lloyds TSB in recent past ...
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