Under the new deal, customers who switch their current account to TSB using the Current Account Switch Service (CASS) can receive £100 upfront, £90 in cashback over six months and a reward worth up to £120.
The incentive is one of several available for those willing to switch a current account using the CASS, which guarantees that your account will be switched in seven working days.
Jumping through hoops
Switching deals are usually only available to new customers who haven’t received a switching bonus before, and it is important to check the small print before you switch, as there are usually extra conditions to meet to ensure you get the cash.
In the case of the TSB deal, for example, customers must log in to the TSB mobile banking app and make at least five payments using the debit card on their account before 19 July 2025 to receive the £100 cash. They must then make at least 20 direct debit payments each month for the first six months to get the £90 cashback.
To receive the extra reward, they must stay until December 2025 and make 20 debit card payments then. The possible rewards to choose from include a £120 hotel voucher or access to 12 months of activity tickets for UK attractions.
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Other switches available
As well as the TSB switch offer, customers can currently get a cash reward by switching to First Direct, Co-op Bank and NatWest. First Direct is offering £175, NatWest £150 and Co-op Bank £100, plus £75 later on for staying.
In each case, there are other terms and conditions to be met, with some requiring minimum amounts to be paid into the account, others needing you to make debit card payments, and some requiring you to use apps and mobile banking.
