01 March 2017

New £10 monthly cashback offer for customers joining TSB’s classic plus account

Customers joining Classic Plus can earn £164.40 a year

Credit card cashback offer extended until June 2018

Wednesday 1 March 2017: From today, TSB will offer a warm welcome to customers choosing to join its Classic Plus current account with cashback rewards of up to £10 a month for day to day banking.

Already one of the best current accounts on the market, TSB’s Classic Plus will now reward new customers with £5 for making 20 debit card payments within a month plus an extra £5 if they make at least two direct debits each month. Designed to give new customers a great start with TSB, the cashback will be paid until June 2018.

Combined with the 3% credit interest available on balances up to £1,500, customers can pocket up to £13.70 per month, or £164.40 over a year – plus there’s no account fee.

What’s more, TSB has also extended the credit card cashback offer for new and existing customers for a further nine months until June 2018. So customers holding a Classic Plus account and a TSB MasterCard1 credit card can earn 1% cashback for the first £500 spent on their credit card each month – worth up to £60 over a year.

The new cashback offer is the latest ‘Plusness’ customers can expect from TSB. Since the launch of the first Classic Plus cashback offer in September 2015 customers have been rewarded £9.3million in cashback. During the same period, Classic Plus customers earned £50million in interest.

Jatin Patel, Product Director at TSB, said: “We work hard to bring great banking to more people and this latest cashback offer gives customers opening a Classic Plus Account just that. Classic Plus is already one of the best current accounts available on the market and TSB was the highest rated high street bank according to the recent Which? Annual Customer Satisfaction Survey for banking, and now customers opening an account will benefit from extra rewards too.”

For more information visit: http://www.tsb.co.uk

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Notes to editors

1 Credit Card Cashback Offer

 Eligibility
1.1 Customers must hold a TSB Mastercard® credit card.
1.2 The TSB Avios, Premier Avios, TrustCard, Visa and Business credit cards are not eligible for this offer.
1.3 To qualify for cashback customers must have a TSB Classic Plus current account.

Cashback
2.1 1% Cashback will be paid on the first £500 of eligible purchases each calendar month.
2.2 Balance transfers, money transfers, cash withdrawals, gambling transactions, account fees and interest are not eligible purchases.
2.3 Cashback will be accrued on the date the transaction appears on your account, which might not be the date the transaction was made.
2.4 Cashback is calculated each calendar month and paid by the 15th day of the following month. So cashback will normally appear on the following month’s statement.
2.5 Cashback will not be paid if the credit card or Classic Plus account is closed.
2.6 Cashback will not count towards minimum monthly payments.
2.7 If a qualifying purchase is refunded or cancelled, awarded cashback may be reversed.
2.8 If cashback results in a positive balance on your account, we may transfer this balance to the customer’s Classic Plus account, or if we are unable to do this, we will send a cheque.
2.9 Tax treatment depends on individual circumstances. It is the customer’s responsibility to account for any tax payable to HM Revenue & Customs.

Timings and ending the offer
3.1 Cashback will be paid on qualifying purchases made from 1 June 2016 up to and including 30 June 2018, unless we state otherwise (in which case we will give 30 days notice).

TSB Classic Plus Cashback Terns and Conditions.

Eligibility

1.1 Customers must open a new Classic Plus account on or after 1 March 2017.
1.2 Customers must not have had a Classic Plus account with TSB before 1 March 2017.
1.3 Customers must be registered for Internet Banking.
1.4 Customers’ Classic Plus account must be open at the time cashback is paid.

£5 Cashback on debit card transactions
2.1 Customers must make at least 20 payments using their debit card (this includes online and mail order purchases, as well a in-store purchases including contactless, Apple Pay™ and Android Pay™) each calendar month to earn £5 cashback.
2.2 ATM withdrawals, Direct Debits, Standing Orders, payments made using Pay a Contact (Paym), bill payments made in a TSB branch and future dated payments don’t count towards the 20 debit card payments.
2.3 Purchases will count towards the 20 debit card payments based on the date the money is taken from the account. This may not be the same date that the debit card transaction was made.
2.4 If customers have more than one Classic Plus account (for example, a Classic Plus account in their own name and an account in joint names) and they make at least 20 debit card payments from each account, they will earn £5 cashback on each account.

£5 Cashback for 2 Direct Debits
3.1 Customers must make at least 2 Direct Debit payments from their account each calendar month to earn £5 cashback.
3.2 The 2 Direct Debit payments each month must be made to different companies.
3.3 Direct Debits will count towards earning £5 cashback based on the date the money is taken from the account. This may not be the same date that the Direct Debit was set up to be taken from the account, if that date falls on a weekend or a bank holiday.
3.4 If a customer has more than one Classic Plus account (for example a Classic Plus account in their own name and an account in joint names) and at least 2 Direct Debit payments each month from each account, they will earn £5 cashback on each account.

Timings and ending the offer
4.1 Cashback will be paid during the next calendar month (for payments made in March 2017, cashback will be paid in April 2017).
4.2 For accounts opened after 1 March 2017, cashback is paid on debit card transactions and Direct Debits up to and including 30 June 2018, unless we state otherwise.

About TSB
TSB was built to bring more competition to British banking - to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our five million customers, innovative mobile and digital banking, nationwide network of branches and 8,200 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market. For further information about TSB Bank plc, please visit our website www.tsb.co.uk.

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