How to get £100 free cash direct to your current account as another major bank launches switch offer
A MAJOR bank has launched a £100 free cash current account switch deal – here’s how to get the bonus.
TSB is offering customers the dosh for switching to their Spend & Save or Spend & Save Plus current accounts using the Current Account Switch Services (CASS).
You can apply for the accounts through TSB’s mobile banking app, its website, or in any of its 220 branches in the UK.
In order to maximise your reward when you switch, you’ll have to use the debit card for spending each month and use the CASS to switch an account to TSB.
After switching, log in to TSB’s mobile app and spend using its debit card at least five times before 14 March in order to qualify for the £100 switching bonus.
The bonus will then be transferred into your account between 28 March and 11 April.
TSB’s deal also offers up to £60 in cashback so long as you complete the initial step and make at least 20 debit card payments each calendar month.
If you do so, you’ll earn £10 in cashback each month, with any cashback earned automatically paid into your account the next calendar month.
On top of these two bonuses, TSB is also offering a special “treat” for customers who stay with the bank until September this year.
If you complete the steps for the initial £100 switching bonus, and make 20 debit card payments in August, you will have the choice of one of three special offers.
You’ll be able to secure a night away for two at a range of hotels booked through Take Time, get two Odeon cinema tickets each month for three months, or get a NOW Entertainment membership for half a year.
To be eligible for the deal, you cannot have had a switch bonus from TSB since 1 October, 2022.
Martin Lewis’ Money Saving Expert has recommended the new deal as one of its “top bonuses for switching”.
A range of other current account switch deals are also available to customers in the UK, including a free £175 for those who switch to First Direct’s current account.
The welcome bonus is given to all customers who switch to First Direct’s 1st Account using the Current Account Switch Service, including at least two Direct Debits or standing orders.
In order to get the bonus, you must also deposit a minimum of £1,000, make at least five debit card payments, and log on to digital banking, all within 45 days of the account being opened.
Once completed, you’ll then get your free £175 by the 20th of the following month.
We should note that this switching bonus is limited to new customers only who crucially have not previously held a First Direct product.
This means it’s also not available to any customers who have opened an HSBC current account on or after January 1, 2018, as they are part of the same company.