Banks are offering brilliant incentives to switch to them, and the TSB Classic Plus Account is definitely worth a look thanks to the high 5% AER interest on balances up to £2,000, provided you pay in £500 per month.
Benefits
- 5% AER variable interest on balances up to £2,000.
- No monthly fees.
- £25 interest free planned overdraft for those unexpected bills.
- £10 overdraft buffer – if you go into your planned or unplanned overdraft by less than £10, there are no fees or interest to pay.
- Save The Change – when you use your debit card, TSB will round up your purchase to the nearest pound and transfer the spare into your savings account. Opt in required.
To be eligible for these benefits, you must pay in a minimum of £500 per month (most other banks ask for £1,000) and register for Internet Banking with paperless statements and paperless correspondence.
How to apply
There are a variety of ways to apply, so you can do it at a time convenient to you.
- Online in 10 minutes.
- In branch.
- Telephone (lines are open from 8am-9pm on weekdays and 8am-4pm on weekends.
Switching banks
When applying for the Classic Plus account, you can also choose to switch your day to day banking to TSB. Switching will take no more than seven working days, and you will be covered by the Current Account Switch Guarantee. You do not need to switch your bank account to qualify for the benefits of this account.
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