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Brits are always on the lookout for potential rewards when deciding what to do with and where to keep their money, and one thing to keep an eye on is whether banks are offering any bonuses to new customers. One of these is being promoted by TSB, as from Tuesday, customers who switch to one of its Spend & Save or Spend & Save Plus current accounts can receive a £200 cash reward once they have completed the switching conditions.
Alastair Douglas, CEO of TotallyMoney, said: “TSB has just launched a brand-new current account switch offer which could bank you an extra £200 over the next few months. It’s available on both the free Spend & Save account, and the Spend and Save Plus which comes with a £3 monthly fee. The paid account comes with added benefits including an interest-free overdraft, fee-free foreign spending, and up to £5 cashback every month.
“To be eligible for the first £150, you’ll need to switch by March 20, deposit at least £1,000, make five purchases with the debit card, and log into the TSB app. You can then earn an extra £50 when you deposit another £1,000 in April.”
Mr Douglas then advised as to which other banks were offering customers money to join them, as he urged Brits that staying with the same one may not be for the best.
He said: “When it comes to banks, it’s important to remember that loyalty doesn’t pay, but moving your money can.
“And as well as TSB – First Direct, HSBC, Lloyds, Nationwide, and Santander will all pay you to shift accounts.
“And it’s easy with the Current Account Switch Guarantee, with your regular payments, income, and balance will automatically shifted within seven days, making it an easy and pain-free process.”
Carys Barnes, head of current accounts and savings at TSB, said: “As we kick off the New Year, many of us will be looking at our finances to make sure we’re getting the most from our money.
“Our TSB Spend & Save and Spend & Save Plus current accounts come with a range of fantastic features and benefits and our latest switching offer, worth up to £200, is just one of the many reasons for customers to bank with TSB.”
