TSB kicks off the new year with a new switching offer worth up to £160, plus a choice of reward

• New customers switching to TSB will receive £100 upfront
• TSB doubles cashback for new customers from £5 to £10 a month in the first six months of account opening – earning up to £60
• Customers can also choose a reward for staying 

From today, customers switching to a TSB Spend & Save or Spend & Save Plus current account can receive £100 upfront, and £60 in cashback in the first six months of opening, plus they can choose one of three rewards.

To be eligible, customers must switch to TSB using the Current Account Switch Service from 22 January 2025 and the switch must be complete by 14 March 2025. Customers will be able to apply through the TSB Mobile Banking app, the TSB website or in branch.

The offer is limited and can be withdrawn at any time. TSB will give notice of the withdrawal date ahead of time.

£100 switching bonus

To receive the £100 switching bonus, customers must log into the TSB Mobile Banking app and make at least five payments using the debit card on their account before 14 March 2025. The £100 bonus will be paid between 28 March and 11 April 2025.

Double cashback

For the first six months, TSB is also offering customers the chance to earn double cashback of £10 each month when they make at least 20 debit card payments in the calendar month. This means customers can earn a total of £60 and any cashback will be automatically paid in the next calendar month.

Choice of reward

If customers make 20 debit card payments in August 2025 and meet the conditions for the £100 switching bonus, they can choose a treat in September 2025 with three options including:

• A night away for two at a wide range of hotels, including Mercure
• Two Odeon cinema tickets each month for three months
• A Now Entertainment membership for six months

Carys Barnes, Head of Personal Current Accounts at TSB, said:

“With so many features and benefits, now is a brilliant time for new customers to switch to a TSB Spend & Save or Spend & Save Plus current account. We’re committed to helping our customers feel more confident with their money, and this switching offer is just one of the many ways we’re doing that.”

Notes to Editors

To be eligible for double cashback and a choice of reward, customers must meet the conditions for the £100 switching bonus.

The full terms and conditions can be found here.

More information about TSB’s Spend & Save and Spend & Save Plus current accounts can be found here.