TSB offers free £160 cash plus choice of reward - but deadline looms
TSB has launched an account switching deal for new customers
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TSB customers can benefit from the Banks switching offer worth £160, plus choice of reward - but not for much longer.
The Bank's latest switching offer will close on Monday, June 24 at 23:59.
Customers who switch to a new TSB Spend & Save or Spend & Save Plus current account can receive £100, and £60.
New customers can get the £100 upfront for opening the fee-free TSB Spend & Save or the £3 per month Spend & Save Plus current account.
To get the remaining £60, they have to make a minimum number of transactions per month using their new debit card.
TSB's cashback offer is also being raised from £5 to £10 a month. New customers can apply through tsb.co.uk, in branch or in the TSB Mobile Banking app.
New customers can get the £100 upfront for opening the fee-free TSB Spend & Save
To get the cash, the switch needs to complete within 21 days of the request, and customers need to do the following:
- Make a minimum of five payments using their debit card or contactless via Google/Apple Pay on the new TSB account
- Log in to the TSB mobile banking app at least once by July 5
Earning double cashback
For the first six months, TSB is also offering new customers the chance to earn double cashback, raising the cashback offer from £5 to £10 a month.
This means new customers can earn a total of £60 (£10 will be paid each month).
For Spend & Save Plus, the same cashback is available for the first six months, and it will then revert to £5 cashback a month (customers can receive a total of £90 in the first 12 months).
To earn the cashback, customers must make 20 debit card payments each month.
The Spend & Save Plus account comes with a £3 monthly maintaining the account fee.
Customer reward
New customers who meet the terms for the £100 payment will be offered a free reward if they make 20 or more payments using their new TSB debit card in December 2024.
Customers can choose from:
- A night away for two at a choice of leading hotels
- Two Odeon cinema tickets every month for three months (six tickets in total)
- A Now TV entertainment six -month subscription
Carys Barnes, head of personal current accounts at TSB, said at the time of launch: “We’re always looking for new ways to reward customers.
"Our latest switching offer and reward gives customers another great reason to switch and enjoy the benefits of our current accounts.”
LATEST DEVELOPMENTS:
The news follows Santander's announcement about the closing of its own switching deal. The Bank's £175 current account switch deal closed yesterday evening.
It means after TSB’s withdrawal, there will be four switching offers available in the market, offering up to £200 free cash.
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