TSB urges customers to come forward for free £246 'before offer's withdrawn'

Switch your current account and get up to £160, TSB has said, plus get a choice of reward in September 2025, in a major cost of living boost for millions of customers up and down the country.
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TSB is handing customers a free £100 - plus £60 cashback and £86 interest in a major boost. Switch your current account and get up to £160, TSB has said, plus get a choice of reward in September 2025, in a major cost of living boost for millions of customers up and down the country.

To qualify for the £100 switch incentive you must do all of the following between 22 January 2025 and before the switch incentive is withdrawn: apply for a new TSB Spend & Save account or Spend & Save Plus account through tsb.co.uk, the TSB Mobile Banking App or in Branches, submit a full switch request via tsb.co.uk or in branch to your new TSB Spend & Save account or Spend & Save Plus account using the Current Account Switch Service.

AND then you must do all of the following by 14 March 2025: complete your full switch; use the debit card on your new Spend & Save account or Spend & Save Plus account to make at least five payments (of any value).

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TSB said: “We’ll count payments based on when the money is taken from your account, which is usually within 5 working days from the day you make the transaction, but can be longer.” Then, check when payments leave your account by looking at your transactions online or your statement; and log into the TSB Mobile Banking App at least once."

A full switch means all of your active credits and debits from your old account (not held with TSB) will be transferred across automatically as part of the service and your old account will be closed. “If you’ve done all these things, we’ll pay £100 into your new Spend & Save account or Spend & Save Plus account between 28 March and 11 April 2025,” TSB said.

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To be eligible for the double cashback, you must first complete all of the £100 switch incentive conditions above and then: if you make 20 or more payments (of any value) per month using your debit card in the first six calendar months your Spend & Save account or Spend & Save Plus account is open (including the month your account is opened) and subject to meeting our cashback terms and conditions, TSB will give you £10 cashback per month instead of £5. This will appear as two payments on your transactions (£5 and £5) and may occur on different dates. At least 20 payments must have been taken from your account during each calendar month in order for you to receive the £10 cashback.

TSB said: “Get £100 for switching, then earn £10 cashback each month for up to six months - that’s double cashback! And, if you stay until September 2025, you’ll get to choose from three treats. Complete Step 1 and make 20 debit card payments in August 2025 to choose your treat in September 2025: A night away for two at a wide range of hotels including Mercure, booked through Take Time. 2 ODEON cinema tickets each month for three months. NOW Entertainment Membership for six months.”