TSB announces deadline for new customers who want free £150 before Christmas
TSB has announced when the current account switch incentive will close
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TSB has announced it will be withdrawing its offer of a free £150 for customers who switch current account.
New customers only have a few days left before the switching offer closes on Monday October 9 at 23:59.
Customers who switch to a TSB Spend & Save or Spend & Save Plus current account before the deadline could get more than £200 – which includes the £150 free cash offer.
To qualify for the £150 offer, customers need to switch to the bank using the Current Account Switch Service – which they can do through tsb.co.uk, in branch or in the TSB Mobile Banking App.
TSB will pay £150 into the new account by November 30 provided the customer meets the qualifying criteria
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They will also need to set up at least two Direct Debits, use their debit card at least one, and log into the TSB Mobile Banking app by October 31, 2023.
Provided these conditions are met, TSB will pay £150 into the new account by November 30 this year.
Customers can also earn £10 a month in cashback for the first six months with a Spend & Save account – totalling £60 in cashback and meaning switchers could get up to £210.
It’s worth noting the Spend & Save Plus account has a £3 monthly account fee.
To earn the cashback, customers must make 20 debit card payments each month.
Speaking when the offer was launched, Carys Barnes, Head of Personal Current Accounts at TSB said: “Our current accounts provide lots of ways to help customers manage their money better, and this offer is another great reason to make the switch.”
A number of other banks and building societies are also offering an incentive to sign-up and move to their current account.
Nationwide Building Society is currently offering £200 free cash to customers who switch.
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Nationwide Building Society, first direct and Lloyds Bank also have switch offers at the moment
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Nationwide customers can also benefit from an eight per cent interest rate on regular savings.
The Flex Regular Saver account is exclusive to Nationwide’s current account customers.
The telephone and internet based bank first direct is offering switchers £175 to eligible switchers..
Lloyds Bank also has a switch offer, of up to £175 free cash.