TSB Bank launches new £210 switching offer with three ‘fantastic’ rewards | Personal Finance | Finance
New TSB customers can get up to £210 with the bank’s new current account switch and cashback offers.
New customers switching to TSB’s Spend and Save, or Spend and Save Plus current account can receive £100 and up to £120 in cashback in the first year of account opening.
Customers also get the choice of three rewards, from hotel stays and cinema tickets to subscriptions.
Carys Barnes, head of personal current accounts at TSB, commented: “This is a great opportunity for new customers to switch to a TSB current account and enjoy some fantastic benefits when they do.”
To secure the deal, new customers must switch to TSB using the Current Account Switch Service from August 1, 2024, and before the offer is withdrawn.
The switch must be completed within 21 days from request, and people can apply through tsb.co.uk, in a branch or the TSB Mobile Banking app.
To receive the £100, customers must make a minimum of five payments of any value using their debit card, including using Google/Apple Pay on their new Spend and Save or Spend and Save Plus account.
They must also log into the TSB Mobile Banking app at least once by September 27.
If these conditions are met, TSB will pay £100 into the new account between October 15, 2024 and October 25, 2024.
The offer is limited and can be withdrawn at any time, but TSB said it will give notice of the withdrawal date.
Earning triple cashback
For the first six months, TSB is offering new customers the chance to earn triple cashback, raising the cashback offer from £5 to £15 a month. This means new customers can earn a total of £90 (£15 will be paid each month).
For Spend and Save Plus, the same cashback is available for the first six months, and it will then revert to £5 cashback a month. This means customers can receive a total of £120 in the first 12 months.
The Spend & Save Plus account comes with a £3 monthly fee to maintain the account.
To earn the cashback, customers must first complete the switch conditions to meet the £100 incentive. They must then make 20 payments (of any value) each month in the first six calendar months the new account is open using their debit card or using Google/Apple Pay.
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 March 2025.
They will receive the award in April 2025, and they 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.
