Increasingly, more and more of us are turning to mobile apps to take care of our banking needs. More than 19.6 million people in the UK used a banking app in 2016. But how are the established high-street names adapting to this change? We take a look at TSB’s mobile banking app.
If you’re a TSB customer registered for online banking looking for a way to manage your money on the move, you’ll want to read on. The app, like all others, can be downloaded from the App Store and Google Play. Once you’ve installed the app and signed in to your TSB online banking account, you can use the app to do the following:
View balances and transaction history.
Set up, view and manage direct debits.
Set up, view and manage standing orders.
View pending payments.
Make transfers between TSB current and savings accounts.
Apply for other TSB products.
Find your nearest TSB branch.
How do I apply for a current or savings account with TSB?
The easiest way to apply to open a new account with TSB is online. Go to the TSB website to open a sole or joint account, open a second account or switch your existing account to TSB.
Saving with the TSB app
While the saving features of TSB’s app aren’t as noteworthy as other banking apps such as Starling or Barclays, users can still use the app to apply for an eSavings account with TSB. You can also quickly identify where your money is going thanks to the “merchant logo” feature, which displays the logo of the company to which you’ve paid money. You can also use the app to set up standing orders, which may be useful if you’re wanting to make regular payments into a savings account.
TSB fees and limits
With a normal everyday account, you won’t pay a monthly fee to TSB.
However, as with most banks, if you use an overdraft you’ll be charged fees and interest, though TSB won’t charge a set-up fee. TSB also provides a grace period, meaning that on the day you’re due to be charged overdraft fees, you’ll have until 10pm to pay off the overdraft. If you do so, you won’t be charged any interest or fees.
Is TSB safe?
The Financial Services Compensation Scheme (FSCS) is an independent statutory fund set up to safeguard consumer finances in the event of a bank being unable to meet its payment demands. TSB has full FSCS protection, which provides compensation for the loss of up to £85,000 – as is the standard for UK bank accounts.
Easy to log in and get full access to current and savings account – you can receive your salary, make payments and make bank transfers.
The app allows you to copy details safely, which is great if you want to make a note of important information like your sort code or account number.
The app lets you see pending transactions, allowing you to monitor what’s about to leave your account.
There’s also a feature that can give you an estimate of the cost of using your card abroad. The feature works with a range of currencies, making it a really useful tool for spending overseas.
Some features, like the TSB branch locator, or the international payment cost calculator can be accessed immediately, without needing to log in. This saves time for those wanting information in a hurry.
The size of the text in the app is larger than in many other apps, which is good news for TSB customers with bad eyesight.
Access to a broad network of bank branches if something goes wrong.
The app won’t work on “jailbroken” devices.
The app’s layout can be slightly confusing – transactions aren’t divided into months, and to make payments or to set up a new payee you tap a “Move money” button, which is a little counterintuitive. There’s also no option to search for payments by reference or date, so you may be scrolling for a while if you need to track down a payment.
You can only view three months of transactions in the app. If you want to see more, you’ll need to log in to online banking.
Frequently asked questions
Yes, to use the TSB app you’ll need to hold an account with TSB and be registered for online banking. If you’re looking for an app that caters for users who hold accounts with different banks, check out our other app reviews.
As already mentioned, to use the TSB mobile app you’ll need to be registered with Internet banking first. To do this:
Fill in the online registration form.
Enter your personal and account details.
Create your user ID and password, and then review TSB’s terms and conditions.
Finally, TSB will verify your identity either by phone or by post.
Transferring money from account to account usually happens immediately. However, it can take longer in some cases.
To download the bank statement for your TSB account, you’ll need to log in to online banking. Once there, you’ll need to:
Select the account you want to download statements for.
Click “print” at the bottom of the screen, which will then open up a new window showing your statement.
Now, click “print” again which will open your statement in print preview.
To save this as a PDF, select Adobe PDF as the printer if you’re using a PC, or click “change destination” and “save as PDF” if you’re using a mac. Once you’ve done this, you’ll be prompted to name your file and save it to your computer.
While your phone number(s), email address and marketing preferences can all be changed with a few taps in TSB’s app, bear in mind that for security reasons you’ll have to visit a TSB branch to change either your name or address. To begin the process of doing so in the app:
Log in and tap the three lines in the top-left corner to open the menu.
Then, tap the settings icon and choose “Your personal settings”.
To manage your overdraft in the TSB app:
Begin by tapping anywhere while in the account overview screen, which will then take you to your account transactions screen.
Then, tap the three dots in the top-right hand corner of the screen before tapping “Current overdraft limit” at the bottom of the screen.
From there you’ll be able to manage your overdraft.
If your card is misplaced or stolen, the first thing is to not panic! Then, you should call TSB’s customer services team ASAP on 0800 015 0030, or if you’re calling from abroad call 0207 481 2567.
TSB won’t charge you a fee for using its mobile banking app. However, if you use the app while connected to mobile data rather than Wi-Fi, you’re likely to incur a fee from your network provider.
To set up a new standing order:
Tap anywhere while on your account overview screen. This will take you to the account transactions screen.
Next, swipe left until you find standing orders.
Now, tap “Set up a standing order” and fill in the relevant details.
If you want to set up a standing order for a different account, you’ll first need to find the account under “My TSB accounts”.
Oli is a writer for Finder UK. He writes guides, features and news about a range of topics, including banking, credit cards, mortgages and personal loans. He studies English Literature at the University of Sussex, and in his spare time enjoys cycling and playing the guitar, though not necessarily at the same time.
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