Eligible switchers can earn a cash incentive plus a range of rewards.
Consumers have yet another opportunity to earn a little extra money this summer as TSB becomes the latest provider to launch a current account switching offer.
The provider is again offering a £100 cash incentive, followed by up to £90 in cashback instalments for customers switching to either its Spend & Save or Spend & Save Plus accounts – provided you haven’t benefited from a TSB switching incentive since 1 October 2022.
“We're always looking for ways to reward new and existing customers,” commented Surina Somal, Everyday Banking Director at TSB.
To earn the first part of the offer, customers must complete the switch before 22 September 2025 using the Current Account Switch Service (CASS). Within the same timeframe, they’ll also need to log into TSB’s mobile app and make a minimum of five payments using their new debit card (including contactless phone payments). The £100 will then be deposited between 6 and 12 October 2025.
For the subsequent six months, customers making at least 20 payments each month can then earn triple cashback on their account for a total of £90 (£15 each month).
Last updated: 22/07/2025
Account: Spend & Save
Arranged Overdraft Rate (EAR): 39.90%
Interest Rate (AER): 0.00%
Account Fee: N/A
Representative Example: Based on an overdraft limit of £1,200 charged at 39.90% EAR Variable. Representative 39.9% APR variable.
Account: Spend & Save Plus
Arranged Overdraft Rate (EAR): 39.90%
Interest Rate (AER): 0.00%
Account Fee: £3.00 pm
Representative Example: Based on an overdraft limit of £1,200. Up to £100.00 charged at 0.00% EAR Variable. Over £100.00 charged at 39.90% EAR Variable. Representative 40.1% APR variable.
As its name suggests, TSB’s Switch and Stay offer rewards customers who continue to use their account with an array of additional perks.
For instance, those qualifying for the initial £100 offer who make 20 payments in February 2026 are then also eligible to choose between two offers from the following month. This includes either a £120 hotel voucher (available via the Travel Credits website), or access to activity tickets for a range of UK-based attractions for up to 12 months.
What’s more, new and existing TSB current account holders can now enter a monthly prize draw running until the end of December 2025 which, between July and October, includes the chance to win a trip to Canada or £300 in Red Letter Day vouchers.
However, as Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, highlights: “The right current account does depend on someone’s individual circumstances, so it is important consumers are not swayed by free cash alone.”
With this in mind, those concerned about spending too much over the summer holidays could also benefit from an arranged overdraft facility, as well as retail discounts offered by My TSB Rewards. Account holders can also get exclusive access to the provider’s Monthly Saver Account paying 5.00% AER.
Furthermore, consumers willing to pay the £3 monthly fee charged by the Spend & Save Plus account can then get the first £100 of their overdraft interest-free and won’t be charged any fees when spending abroad.
The list of current account switching offers continues to grow giving consumers a considerable, perhaps overwhelming, number of options to choose from – it was only last week that Barclays unveiled its own £175 incentive while Lloyds Bank launched its £185 switching offer at the start of the month.
As it stands, TSB offers the most competitive cash incentive on the market, which makes it a tempting option for those looking to bolster their finances. However, with seven providers now trying to entice your custom with a switching deal, it’s worth comparing all the options available.
“Those who switch using the Current Account Switch Service (CASS) have a variety of free cash perks to choose from, these can include accounts paying a high credit interest or a competitive overdraft tariff,” remarked Springall.
Indeed, while not offering any cash for switching, Nationwide BS currently offers the highest in-credit interest rate at 5.00% AER for 12 months on its FlexDirect account, while those moving to first direct’s 1st Account can receive £175 and a £250 interest-free buffer on their overdraft.
You can find out more about these current account switching offers here.
Meanwhile, if you want to compare the rest of the market instead, be sure to check out our current account charts for up to date information.
All of our newsletters are available free by email to all Moneyfactscompare.co.uk users.
Send me Weekend Moneyfactscompare, Savers Friend, and Companies Friend.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
