TSB announces ‘up to £230’ for certain customers in 2026 | Personal Finance | Finance
People could earn up to £230 by April 2026 if they take advantage of an online banking offer – but they need to make their move soon to reap the most benefit. TSB is offering most people who swap to their bank a free cash bonus of at least £150.
Anyone who sticks with TSB’s Spend and Save account can continue to get extra cash bonuses every month in 2026. There is a bumper offer in April for those wanting to fully make the most of the cash advantages that come with swapping their bank provider.
After the original £150 bonus, there’s another £50 opportunity in April 2026. But, in between, there are £5 boosts available each month (which could add up to £30 on top of the £150 and £50 if people start banking in January). Every month, people who make 20 or more direct debit payments earn £5 back from TSB.
Not every person in the UK will be eligible to make the switch. TSB has blocked anyone who previously switched to their banking services and received a cash bonus for doing so since October 2022.
How to complete the £150 offer
- Complete a full switch to a Spend and Save account using the Current Account Switch Service before March 20, 2026.
- Log onto the TSB app and deposit at least £1,000 into the new account.
- Make five (or more) payments using your new TSB debit card before March 20, 2026.
At this point, the bank will recognise that the customer is eligible for the £150 bonus that is paid directly into the account. For those who want that extra £50, there is an extra step to carry out for the maximum bonus that this switch offers.
The TSB website states: “Deposit a total of at least £1,000 into your TSB account in April 2026. We’ll pay you £50 by May 31, 2026.”
What is included in the switch?
On top of the cash incentive, TSB offers anyone joining its existing base of more than five million customers from a rival provider additional support to make the move less confusing. People who sign up for a Spend and Save account will get help with:
- Moving your previous account balance over to your TSB current account.
- Closing your old account.
- Copying over the details of everyone you’ve sent payment to (your payees).
- Transferring all active Direct Debits and standing orders to your TSB account.
- Redirecting regular income like salary, pension, or benefits payments to your new account.
- Adding a redirect so any payments to your old account automatically go to your new one.
TSB has a disclaimer that banking customers will still have to take care of a few things themselves, such as transferring any bills or payments that use your debit card details and updating the payment details used for Apple Pay or Google Pay.
