TSB has launched a switching deal offering new customers £100, £60 cashback and a treat of their choice.
You can get the deak if you switch to one of its Spend and Save accounts using the Current Account Switching Service (CASS) before 14 March, log in using the banking app and make five card payments.
It’s only available to customers who haven’t received a switch incentive since October 2022.
The £100 bonus will be paid between 28 March and 11 April.
To qualify for the cashback, at least 20 card payments have to be made each month for six months.
Account holders can usually earn up to £5 cashback a month for the first six months when they make 20 debit card payments – but those who switch can earn double that.
Those who stick with the account until September will also get to choose a treat, including:
- A night for two at a choice of hotels
- Two cinema tickets each month for three months
- NOW Entertainment subscription for six months
So how does it compare?
While the deal is a good one, other providers are offering up to £175.
Nationwide will offer £175 to new customers who switch to one of its FlexPlus, FlexDirect or FlexAccount products.
To be eligible, customers must use the CASS, deposit £1,000, set up two active direct debits, and make one card payment within 31 days.
The account must be opened via Nationwide’s website or banking app, and the switch must be completed within 28 days of it being requested.
Once the criteria have been met, the £175 will be paid into their account within 10 days.
First Direct is also offering £175 to customers who switch to its 1st Account.
The reward will be given to those who switch using the CASS, set up at least two direct debits or standing orders, deposit £1,000 or more within 30 days, and log in to digital banking.
Those who have previously held a First Direct product or a HSBC current account since 1 January 2018 are not eligible for the deal.
Santander will pay £150 to new and existing customers who switch to its Edge, Edge Up, Private or Everyday bank account.
To be eligible, customers need to use CASS, pay in at least £1,500 within 60 days of the switch request and set up at least two active direct debits.
Payment will be made within 90 days of starting the switch process if the conditions are met.
Non-UK residents, those switching from a Santander, Cahoot or Cater Allen account, and customers who have benefited from a switch incentive since September 2021 are not eligible for the reward.
