TSB bank switch deal: Get up to £160

TSB switch deal update

TSB’s £160 switching offer has now ended. The information below is for reference only. For switching deals available now, make sure to check out our switching deals guide.

A new switching bonus from TSB launched on 23 May 2024, where you can get £100 for switching your account and up to £60 in cashback – plus an additional reward for sticking with the account. Here’s how to get the money and what rewards are in store for you. For a full list of switching deals on the market, you can visit our switching deals guide.

How much can I get with TSB’s switch deal?

TSB’s switching offer comes in 3 parts.

• Step 1. You can get £100 when you complete a full switch and meet the eligibility criteria listed below.
• Step 2. You stand to earn double cashback up to £60 if you meet the criteria in step 1 and make at least 20 debit card payments each month.
• Step 3. If you keep your TSB account, then in January 2025 you’ll get a reward. This comes in the form of a hotel stay for 2, Odeon cinema tickets for 3 months (6 tickets in total) or a NOW Entertainment membership for 6 months.

With either the Spend & Save account or Spend & Save Plus account, you’ll get 2.92% AER on Savings Pots and access to the TSB Monthly Saver at 6%. If you deposit £1,000 into a Savings Pot and save the maximum amount of £250 a month into the Monthly Saver, you stand to earn £29.20 and £99.32 in interest respectively.

Compare TSB’s current accounts

Who can get the deal?

Only new TSB customers can get it and you can only benefit from these offers once. So there isn’t a way to get double cashback again if you open a second account either in your name or in joint names.

You can’t qualify if you’ve received an incentive or benefit for switching to TSB Bank since 1 October 2022.

How can I get the deal?

Requirements to get the £100 switching bonus

• Apply for a new TSB Spend & Save account or Spend & Save Plus account.
• Submit a full switch request using the Current Account Switch Service.
• Make a minimum of 5 payments using your debit card by 5 July 2024.
• Log into the TSB Mobile Banking App at least once by 5 July 2024.

Requirements to get the double cashback – up to £60

• Complete all of the £100 switch incentive conditions.
• Make 20 or more payments per month using your debit card in the first 6 months of opening your account.

Requirements to get the TSB Partnership Reward in January 2025

• Complete all of the £100 switch incentive conditions.
• In December 2024, make 20 or more payments using your debit card.

When the offer ends

There’s no end date listed on the TSB site, but it may be withdrawn at any time.