Major bank is giving new customers free £190 - but you don't have long to claim it

Ruby Flanagan

9 September 2024 at 10:55 am·2-min read

TSB is seemingly having banking app issues — -Credit: (Image: PA)

TSB is set to withdraw its £190 switching offer tomorrow, leaving Brits with little time to take advantage of the freebie. The high street bank introduced the switching offer last month, which provides new customers with an upfront cash bonus of £100 and an additional £90 in cashback.

This offer applies to new customers who switch to a TSB Spend and Save or Spend and Save Plus current account. To qualify for the free £100, customers must make at least five payments and log into the TSB Mobile Banking app once by September 27.

TSB will then deposit the £100 between October 15, 2024, and October 25, 2024.

Account holders also have the opportunity to earn between £5 and £15 in cashback each month for the first six months. This means that the maximum potential gain is up to £90, bringing the total to £190.

However, at least 20 debit card payments must be made to earn the monthly cashback, reports the Mirror.

New customers who meet the conditions for the £100 payment - and make 20 or more payments using their TSB debit card- will also be offered a free reward in March next year. They can choose from:.

You won't qualify for the cash reward if you've received a switch bonus from TSB since October 2022, and the switch must be finalised within 21 days of request. New customers can apply via tsb.co.uk, in-branch or through the TSB Mobile Banking app.

It's worth noting that while the TSB Spend and Save card doesn't carry a monthly fee, the Spend and Save Plus account will set you back £3 a month. Despite this sounding like an attractive offer, it's crucial to thoroughly read the terms and conditions before proceeding.

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