The Spend & Save account from TSB Bank is one of the deals that offers a good switch deal - but you have to move fast as the offer is only available for a limited time.
Finance experts are urging Brits to take note of a tasty new bank account switch offer from TSB Bank that promises £100 upfront. The deal also includes the potential for an additional £10 monthly cashback for half a year for those who meet the criteria.
The consumer champion website Money Saving Expert (MSE), founded by Martin Lewis, has talked up this opportunity. Be warned, though, there's a catch – the switch must be completed by March 14 to reap the financial rewards.
MSE said: "Banks sometimes offer bonuses – free cash, boosted savings rates or other perks – to new customers who switch in an existing current account to a new current account with them. Essentially, banks want your custom and switch bribes are a double win for banks – you not only join them, but you leave one of their rivals."
As reported by Express.co.uk, the TSB Spend & Save account was identified as having an attractive switch deal. By switching to this account, customers can secure £100 right away, enjoy £10 a month cashback for six months, and even select an additional reward come September.
MSE advised: "To max the reward on the TSB Spend & Save you'll need to use the debit card for spending each month. Switch to it, log in to its mobile app and spend on its debit card five or more times by 14 March to qualify for the upfront £100, plus spend on its debit card 20 or more times in each of the first six months to qualify for the £10 a month cashback."
And if customers make at least 20 debit card payments in August, they will receive another bonus reward in September. The account perks include a choice of a one-night hotel stay for two at selected hotels, six Odeon cinema tickets, or a six-month Now Entertainment membership.
READ MORE: McDonald's confirms new Happy Meal change aimed at kids over 4READ MORE: Poundland warning as new rules rolled out across UK storesWhat's more, the account provides access to a regular saver that offers six percent interest on up to £250 per month, fixed for 12 months - potentially earning you £86 in interest over the year.
To qualify for the £100 bonus:
- You can't have had a switch bonus from TSB since October 1, 2022
- Open the account online, in-app or in branch
- Switch in an account from a different bank before March 14
- Also before March 14 , spend on the debit card five times and log in to the mobile app
The £100 bonus will then be credited between March 28 and April 11.
TSB also highlights on its website that customers can apply for an overdraft of up to £2,000 with this account, subject to approval. Money Saving Expert has previously ranked switch deals from First Direct, Nationwide, and Santander among the top current offers.
English (US) ·