Thousands of UK households could benefit from TSB’s latest incentive to switch current accounts. The high street bank is offering up to £310 in rewards, combining upfront cash, monthly cashback, and a lifestyle bonus.
The move comes amid increasing competition among UK banks to attract new customers. TSB’s deal has been described by MoneySavingExpert as the “biggest bank switching reward of the year,” providing an attractive option for eligible customers seeking tangible financial benefits.
This offer also reflects a wider trend in consumer banking, where providers use generous short-term promotions to acquire and retain account holders. With living costs still weighing heavily on household budgets, such rewards may represent a significant draw for financially savvy consumers.
Up to £310 in Multi-Part Rewards for Eligible New Switchers
The total £310 reward comprises three key components. According to MoneySavingExpert, new customers who switch to TSB’s Spend & Save or Spend & Save Plus current accounts will receive an initial £100 switching bonus.
This payment is made once all the qualifying criteria for switching have been met, including the use of the Current Account Switch Service.
In addition to the £100, customers are eligible for monthly cashback of £15 over six months, provided they make 20 or more debit card payments each calendar month. This is part of a temporary increase from the account’s usual £5 cashback offer. The cashback appears as two separate payments of £5 and £10, depending on transaction clearance dates.
A further reward—valued at £120—will be issued in January 2026 to qualifying customers. To obtain it, customers must complete at least 20 debit card payments in December 2025.
The reward takes the form of a credit redeemable via Expedia’s Travel Credits platform or a 12-month membership to the National Activities Network, allowing access to a range of activity-based tickets.
Additional Features and Conditions Apply
Beyond the headline incentives, TSB offers an optional regular saver account linked to the Spend & Save product. According to TSB, this savings option allows monthly deposits of up to £250 at an interest rate of 5% fixed for 12 months, potentially yielding up to £71 in interest.
The bank has specified key eligibility criteria. Customers must not have received a TSB switch incentive since 1 October 2022. Also, all cashback-related payments are subject to TSB’s terms and conditions, and debit card payments are counted based on the date the transaction clears, not the date of purchase.
