20 February 2020

TSB offers payment holidays to assist customers affected by floods

TSB has announced its plans to offer immediate financial support to customers impacted by the recent flooding across England and Wales. TSB staff are also providing additional support for those in need through its local branches.

TSB’s Customer Banking Director, Robin Bulloch said: “Our thoughts go out to those people in England and Wales who have been affected by the flooding. At TSB, we understand that times like these can be extremely hard - emotionally, physically but also financially. By offering support to our customers, we hope to help alleviate any concern they have with their financial commitments so that they can concentrate on more important issues at hand.”

“We would urge any of our customers who have been affected by the flood events to contact us directly so that we can help them.”

The assistance that TSB will be offering customers includes:

  • Mortgage customers: Affected customers with a TSB mortgage may apply for a repayment holiday for up to two months. For new customers joining TSB, mortgage advisers and brokers will work with customers and understand their individual position.
  • Savings customers: Customers will be able to waive early closure fees on our Fixed Rate ISA products and allow Fixed Bond customers to surrender their policies early to gain access to their money.
  • Credit card customers: Affected customers may request an emergency credit limit increase.
  • Current account: Affected customers can apply for an increased cash withdrawal limit for up to £500 or more (depending on each individual case).
  • Personal Loan customers: Our personal loan products all have repayment holidays available as standard for any customers who need short-term relief on their outgoings.
  • Business banking: Affected Business banking customers should contact TSB. TSB will assist each customer according to their individual case.
  • Insurance customers: Aviva have set up command centres in areas most affected and they have been contacting customers in high risk areas to see if they can help.
The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. ‚Äč