Check out our comprehensive guide to the best UK bank accounts for kids and teens, including digital alternatives and savings accounts too.
If you have a TSB account that you no longer use or want, you’ll need to know how to close it. Perhaps you’re thinking of moving to another bank, or the account no longer serves your needs.
Whichever is the case, we’re here to help. In this guide, we’ll show you exactly how to close a TSB bank account. This will include the easiest way to do it, whether you can do it online, and if there are any charges, fees or T&Cs you need to know about.
And when it comes to choosing a new account in the future, check out Wise. Later on, we’ll show you how the Wise multi-currency accountcould be a money-saving alternative to traditional banks, especially for international transactions.
But first, let’s focus on getting that TSB account closed for you.
The simplest and fastest way to close your TSB current account is online. You can complete the Online Account Closure Form¹, which you can access through this page.
Before you start the process, you’ll need to make sure you have access to a smartphone. This is so you can verify your identity with a photo driving licence or passport¹.
If you have a personal current account and are unable to verify your identity using the online form, you can download, print and post the Account Closure Form instead. The address to post your completed form to is¹:
TSB Bank plc
PO Box 373
You can follow this same process for closing a TSB savings account¹, either using the online version of the form or sending a printed-off copy in the post.
If it’s a business bank account you’re looking to close, you can use the same Online Account Closure Form as for current and savings accounts. If you’re looking to send the form by post though, the address is slightly different¹:
TSB Bank Plc
2138 Coventry Road
If you close your main current account, you could be left without a way to receive wages and pay bills until your new account is open.
You can avoid this delay and get a smoother transition between accounts by using the Current Account Switch Service.
This free service will automatically close your TSB permanent account, open a new one at your chosen bank and transfer over your Direct Debits, standing orders, wage payments and more - all within 7 days².
Before you ask TSB to close your account, it’s a good idea to check the following¹:
- Your account isn’t overdrawn
- There are no outstanding charges or pending transactions due. If there are, you’ll need to make sure there’s enough money in the account to cover them.
If there’s a balance in the account, you can transfer it to another TSB account, an account with another bank, or make an international payment. It’s important to remember that there are fees to make an international transfer¹.
If your balance is less than £50, TSB will send you a cheque in the post¹.
When the time comes to choose a new account, consider Wise.
While a standard bank account is undoubtedly handy to have, it’s rarely the best, cheapest or quickest choice for overseas payments. So if you send and receive money internationally, for personal and/or business reasons, you’ll need a better solution.
The Wise multi-currency account lets you manage 50+ currencies at once, send money worldwide for low fees and even receive overseas payments for free.
And unlike banks, Wise doesn’t charge a mark-up on the exchange rate. This means you get the mid-market rate every time, so your money goes further.
There’s even a contactless Wise debit card for use in 200 countries, which automatically converts currency at the fairest rate around. So, that’s your travel spending sorted.
And that’s pretty much it - all the essential info you need on how to close a TSB account. The online form makes it pretty easy to do, but you’ll need to make sure you can verify your ID with your smartphone and the right documents.
But if not, there’s always the back-up option of sending your form by post, even if it does take a little longer. Good luck!
Sources used for this article:
Sources checked on 20-Jan-2022.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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