There are just days left to get a £125 bank account switch incentive, now the only offer left on the market.
TSB is offering switchers up to £185 – made up of £125 plus six months of double cash back worth £60.
To qualify, eligible people must open one of TSB’s Spend & Save accounts and start a full switch before Wednesday, January 31, 2024.
A full switch means all of the person’s active credits and debits from their old account (which is not held with TSB) will be automatically transferred to the new current account and the old one will be closed.
TSB is currently offering up to £185 via its current account switch incentive
This bonus will be paid between March 20 and 29, 2024 provided the full eligibility criteria are met.
This includes making a minimum of one payment using the new Spend & Save or Spend & Save Plus account debit card by March 15, 2024.
Switchers also need to log into the TSB Mobile Banking App at least once and have a minimum of two active Direct Debits on the new qualifying account.
To get up to £60 double cashback, the aforementioned criteria must be met, then the customer must make 20 or more payments using their debit card each calendar month to earn £5 cashback.
For the first six calendar months, including the month the account is opened, TSB will double the cashback if they meet the required number of transactions.
Other conditions do apply, and customers who have received an incentive or benefit for switching to TSB Bank using the Current Account Switch Service since October 1, 2022 won’t be eligible.
TSB is currently the only bank offering a switch incentive after two other deals were withdrawn earlier this month.
Most recently, first direct pulled its £175 current account switch incentive.
The bank said it would be “pausing” the offer, which launched in 2022, following a review.
In October last year, there were four current account switch incentives on the market.
Last September, TSB launched a £150 current account switch offer, with £60 double cashback also available.
This offer, worth up to £210, was removed from sale on October 9, 2023.