TIME is running out for anyone looking to pocket up to £310 in free cash by switching bank accounts.
TSB is offering one of the most generous deals on the market, but time is ticking.
New customers switching to TSB’s Spend & Save or Spend & Save Plus current accounts can pocket £100 simply for making the move[/caption]
Up to £310 is up for grabs, including a £100 upfront bonus, cashback, and an extra reward.
However, customers wishing to bag the cash will need to switch by 23.59 on Monday, September 8.
New customers switching to TSB’s Spend & Save or Spend & Save Plus current accounts can pocket £100 simply for making the move.
To qualify, you’ll need to switch your account using the Current Account Switch Service, log into TSB’s mobile app, and make at least five debit card payments before September 22, 2025.
The £100 will then land in your account between October 6 and 12, 2025.
TSB is also offering £15 cashback per month for the first six months if you make at least 20 debit card payments each month – that’s an extra £90 in your pocket.
And the rewards don’t stop there.
If you make 20 debit card payments in February 2026, you’ll unlock a choice of a £120 hotel voucher or a year of activity tickets for UK attractions, redeemable in March 2026.
For savers, the account also includes access to a 5% regular saver, where you can stash up to £250 a month and potentially earn up to £71 in interest over the year.
However, the deal is only open to those who haven’t received a TSB switching bonus since October 1, 2022.
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 does just that.”
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.
What are the other banks offering?
TSB is offering the most when it comes to free cash switching perks, however First Direct is also offering new customers cash.
First Direct is offering £175 in cash to new customers who switch to its 1st Account, which comes with no monthly fees and a range of attractive benefits.
This account is particularly appealing for those who travel, as it allows fee-free spending abroad with near-perfect exchange rates.
In addition to the cash bonus, the account offers access to a 7% regular saver where you can deposit up to £300 per month, potentially earning up to £137 in interest if maxed out.
Eligible customers can also benefit from a £250 interest-free overdraft.
To qualify for the £175 bonus, you must not have previously held a First Direct account and must not have opened an HSBC current account since January 2018.
You’ll need to open the account via the app (or online for joint accounts), switch an account from another bank with at least two active Direct Debits or standing orders, pay in at least £1,000, and make five debit card payments within 45 days.
Once you meet these requirements, the £175 will be paid by the 20th of the following month.