TSB is currently offering a welcome bonus of £100 when you make a full switch to its Spend & Save account through the Current Account Switch Service.
You can also earn an extra £15 cashback each month for your first six months, by making at least 20 debit card payments each month. Spend & Save Plus customers can earn the same rate of cashback for the first six months and then £5 cashback a month for the remaining six – taking the total cashback earnings to £120 for 12 months.
Customers who maintain the account until March 2025, and make at least 20 debit card payments the previous month, can also choose an extra reward: a six month NOW Entertrainment membership, two ODEAN cinema tickets per month for three months, or a night away for two at a choice of hotels.
To qualify for the offer, you’ll need to make at least five payments using your new TSB debit card and log into the TSB Mobile Banking App at least once.
If you have received a switching offer from TSB Bank since 1 October 2022, you won’t be eligible.
Elsewhere, customers can open up to five ‘Savings Pots’ paying 2.92% AER on balances up to £25,000. This includes a bonus rate of 1.52%, which drops off after 12 months.
You can also opt to have debit card transactions rounded up to the nearest pound, with spare change deposited into one of these pots.
Elsewhere, through TSB’s Auto Balancer tool, you can have funds from these pots moved into your current account automatically when the balance falls below a pre-set limit.
TSB’s welcome offer is also available through its Spend & Save Plus Account. This account costs £3 per month to maintain, and allows eligible customers an interest-free overdraft of up to £100. Customers also receive ongoing cashback of £5 per month, provided they make at least 20 debit card transactions each month.