 will get £200 in free cash. Customers will get the first instalment of the switching bonus worth £125 by September 30 after setting up at least two direct debits, using their debit card at least once and logging into internet banking. A further £75 in free cash will be paid into new accounts by March 31, 2024, as long as the customer pays at least £500 into the account each month as well as five debit card and two direct debit payments per month. TSB's Spend & Save and Spend & Save Plus accounts also come with instant access savings paying 2.52% AER variable. But we've found better easy access savings rates offered by challenger banks and building societies. For example, Shawbrook Bank pays accountholders 4.35% back on savings worth more than £1,000. What are other banks offering? Lloyds Bank, First Direct and NatWest are all currently offering switching bonuses to customers. Lloyds is offering £150, plus additional perks including the choice of 12 months of Disney+, six free cinema tickets and magazine subscription if you sign up to one of its current accounts. There is a £3 monthly fee to maintain any one of the accounts though, unless you deposit £2,000 or more in each month. Customers will also get access to a regular saver account which offers 6.25% interest. Meanwhile, bank customers signing up to First Direct can get £175 free cash and access to a 7% savers account. You just have to pay in £1,000 or more within three months of switching and then wait up to 28 days for the £175 to appear in your account. NatWest is off){kind=link}
A MAJOR bank is giving customers £200 in free cash if they switch their current account.
TSB has launched its new switching incentive to help lure new customers in and persuade them to open a current account.
All customers who switch to a TSB current account using the Current Account Switch Service (CASS) will get £200 in free cash.
Customers will get the first instalment of the switching bonus worth £125 by September 30 after setting up at least two direct debits, using their debit card at least once and logging into internet banking.
A further £75 in free cash will be paid into new accounts by March 31, 2024, as long as the customer pays at least £500 into the account each month as well as five debit card and two direct debit payments per month.