TSB launches new bank switch offer worth up to £310 in cash and rewards

TSB has launched a new bank switch deal, offering customers up to £310 in cash and rewards.

New customers switching to TSB's Spend and Save, or Spend and Save Plus current account, can receive £100 and up to £90 in cashback in the first six months of opening. Customers also get the choice of two rewards, worth up to £120, and the chance to partake in a monthly prize draw.

This closely follows on from TSB's last switching offer, which ended in June. Surina Somal, everyday banking director at TSB, said: "It's great to be out again offering customers more brilliant reasons to bank with TSB. On top of the many great features and benefits that TSB current accounts already provide, we're always looking for ways to reward new and existing customers - and our latest switching offer and exciting prize draw do just that."

To be eligible, customers must switch to TSB using the Current Account Switch Service from July 25, 2025, and complete the switch by September 22, 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The offer is limited and can be withdrawn at any time, but TSB said it will give notice of the withdrawal date.

Those who have received an incentive or benefit for switching to TSB Bank using the Current Account Switch Service since October 1, 2022, will not be eligible for the offer.

£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 September 22, 2025. The £100 bonus will be paid between October 6 and October 12, 2025.

Triple cashback

For the first six months, TSB is offering customers the chance to earn triple cashback of £15 each month when they make at least 20 debit card payments in the calendar month. This means customers can earn a total of £90, and any cashback will be automatically paid in the next calendar month.

Choice of reward

If customers make 20 debit card payments in February 2026 and meet the conditions for the £100 switching bonus, they can choose a treat in March 2026 with two options, including:

• £120 voucher for a hotel of their choice
• Access to 12 months of activity tickets for hundreds of UK attractions.

Prize draw

The prize draw will run every month until the end of December with at least 28 winners each month. For the first few months (July to October), TSB personal current account customers have the chance to win a city break for two to Toronto and Niagara Falls in Canada or £300 Red Letter Day vouchers.

For the Toronto and Niagara Falls City Break for two, three winners will be selected at random each month from all eligible customers.

For the £300 Red Letter Day vouchers, 25 runners-up will be chosen at random each month from all eligible participants. These vouchers can be exchanged for over 5,000 experiences, including spa breaks, supercar track days, West End theatre tickets, and more.