Limited offer
Get up to £200 cashback in the first year when you switch to TSB through MoneySuperMarket (offer ends 4th December)
Is this account right for you?
To open this account
- You must be aged 18 or over to apply
- You must be a UK resident, an EU national or have permission to stay in the UK for at least 12 months
- You must deposit a minimum of £500 per month into the account and register for internet banking, paperless statements and paperless correspondence to receive interest
Account features
- Cashback
- Direct Debits
- Mobile App
- Online Banking
- Overdraft Facility
- Standing Orders
- Switching Service
- Text Alerts
Considerations
- Great for
- £130 cashback for switching to a TSB Classic Plus Account using the Current Account Switch Service by 22nd December 2017. Must apply by the 4th December 2017
- Plus £5 cashback for 20 debit card payments per month and £5 cashback for two different direct debit payments per month. Valid from 1st March 2017. T&Cs; apply, ends 30th June 2018
- If you have a Plus account, earn up to £5 a month cashback with selected TSB credit cards (Representative 18.9% APR variable) . T&Cs; apply. Ends 30th June 2018
- But be aware that
- To earn the £130 Switching Cashback, transfer a minimum of two active direct debits as part of the switch and credit at least £500 in the first 28 days of the switch
- To earn 3% AER (variable) on balances up to £1,500, credit your account with a min of £500 each month and register for internet banking, paperless statements and correspondence
- You can only get the monthly cashback if you opened your account on or after 1st March 2017, and if you register for internet banking. T&Cs; apply. Offer ends 30th June 2018
Interest rates
| Balance | Introductory Rate | Follow on rate | Gross AER* |
|---|---|---|---|
| £0 - £1500 | 3.00% |
- Any interest you earn will be tax-free up to your annual personal savings allowance.
- Interest will be paid Monthly.
Overdraft Rates and Charges
| Overdraft buffer Amount | Planned/Authorised Overdraft Rate (EAR) | Unplanned/Unauthorised Overdraft Rate (EAR) |
|---|---|---|
| £25.00 | 19.84% | 19.84% |
- You will receive a £25 interest and fee free planned overdraft (subject to application and approval)
- If you have a planned overdraft, there are no overdraft fees or interest to pay if you go overdrawn by £10 or less. If you have an unplanned overdraft, you won’t be charged fees on the amount borrowed, but you will be charged interest on the full amount (including the £10 buffer).
| Other Overdraft Charges | Fee/Rate | Notes |
|---|---|---|
| Planned Overdraft Usage Fee | £6.00 / Monthly | You’ll only pay this once if you use a Planned Overdraft over your £10 buffer in your monthly billing period. If you have an interest and fee-free Planned Overdraft limit as part of your account, you will pay the £6 fee if you go over your interest and fee-free limit by more than your £10 buffer. A Planned Overdraft continues until repaid. So if you have an overdraft from the previous month at the start of a new monthly billing period, you will pay another Monthly Overdraft Usage Fee |
| Unplanned Monthly Overdraft Charge | £6.00 / Monthly | You’ll only pay this once if you use an Unplanned Overdraft over your £10 buffer in your monthly billing period |
| Unplanned Overdraft Fee | £10.00 / Daily | For unplanned overdraft balances of £25 or more. However, for balances more than £10 but less than £25 the fee charged is £5 per day. For balances of £10 or less no fee applies. You will not be charged more than eight daily fees in a monthly billing period |
Other Fees
| Fee | Notes | |
|---|---|---|
| Foreign Exchange Rate | 2.99% / per item | |
| Foreign ATM Charge | 1.50% / per item | Minimum withdrawal fee of £2 and a maximum of £4.50 |
| Foreign Purchase Fee | £1.00 / per item | A 2.99% non-sterling transaction fee will also be charged |
| Returned Item Charge | £10.00 / per item | Up to a maximum of three returned item fees a day. For Direct Debits and cheque payments, TSB will give you until 3:30pm that day to add money into your account to make the payment, if there is still not enough money in your account the payment will be declined and a return item fee will apply. For standing orders and future dated payments TSB will attempt to make the payment again at 3:30pm or shortly after midnight on the next working day, if there is still not enough money in your account the payment will be declined and a return item fee will apply. If a point of sale transaction using a debit card is declined no Returned Item Fee will apply |
Operating and accessing your account
| Operating your Account | Making Withdrawals | |
|---|---|---|
| Online | - | |
| Phone | - | |
| Branch | ||
| Post | - | - |
| Post Office | ||
| SMS | - | |
| Mobile App | - | |
| ATM |
Mobile App Features
| Make transfers between accounts | - |
| Check balances | - |
| Make transfers to other people | - |
| View transaction history | - |
| View direct debits/standing orders | - |
| Apply for new products | - |
| Use app on multiple devices | - |
| Branch finder | - |
| Pay bills | - |
| Setup payments, standing orders, or direct debits | - |
| Make payments | - |
| View mini statements | - |
| Make payments to other people | - |
| Use multiple devices | - |
Mobile App features may be limited. Please refer to providers site for more information.
Other details
- This account has a Visa Debit card.
- The currency for this account is Pound.
Limited offer
Get up to £200 cashback in the first year when you switch to TSB through MoneySuperMarket (offer ends 4th December)