TSB is offering customers the chance to earn up to £230 by switching their current account before spring 2026, under a new time‑limited incentive designed to attract savers looking for better value.
The high street bank has launched a £150 switching bonus for anyone who completes a full move to its Spend and Save account using the Current Account Switch Service.
TSB said the full amount is made up of three separate elements paid at different stages.
The first is the £150 switching bonus, which is paid shortly after customers meet the initial conditions.
To qualify, customers must finish their switch by March 20, 2026.
The £150 payment forms the core of a wider package of rewards that can total £230 for those who continue using the account throughout the year.
The second is a £50 reward available to those who continue banking with TSB into April 2026.
The third is a monthly cashback offer of £5 for customers who make 20 or more debit card payments in a calendar month.
The high street bank has launched a £150 switching bonus for anyone who completes a full move to its Spend and Save account
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Customers who switch early and consistently meet the debit card requirement could earn up to £30 in cashback by April.
Combined with the £150 switching bonus and the £50 April payment, the total available rises to £230.
To unlock the initial £150, customers must open a Spend and Save account, complete a full switch through the official switching service, deposit at least £1,000 before March 20, 2026, and make a minimum of five debit card purchases.
TSB said the bonus will be paid directly into the account once all conditions are met.
TSB is offering customers up to £230 by switching their current account | PA
The additional £50 payment requires a further £1,000 deposit during April 2026.
TSB confirmed the money does not need to remain in the account after being paid in. The £50 will be issued by May 31, 2026.
Eligibility restrictions apply. Anyone who has previously switched to TSB and received a cash incentive since October 2022 will not qualify.
TSB said the switching process is designed to be straightforward.
Customers must update any payments linked to their debit card themselves
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PAThe bank will transfer the customer’s existing balance, close the old account and move direct debits and standing orders automatically.
Incoming payments such as salaries, pensions and benefits will also be redirected, and any payments sent to the old account will be forwarded.
However, customers must update any payments linked to their debit card themselves.
This includes subscriptions, recurring card payments and digital wallet details for services such as Apple Pay and Google Pay.
TSB, which serves more than five million customers across the UK, said the incentive is aimed at people looking for better value from their current account and willing to meet the usage requirements set out in the offer.