A bank is offering a huge incentive to new customers right now by offering a £200 switch offer.
Customers get £125 if they open a Spend & Save or Spend & Save Plus account after July 10.
Then they must use the Current Account Switch Service (CASS) to move to TSB before August 31, 2023.
READ MORE: Three in ten Brits worry daily about money – but spend £4,000 a year outsourcing services
Brits will also need to set up at least two direct debits and use it once before logging into the TSB Mobile Banking app.
The £125 switch money from TSB will be paid by September 30, 2023.
A further £75 will then be awarded by March 31, 2024, if each month they pay in at least £500, make five debit card payments and have two direct debits.
Those who have received a switch offer from TSB since October 1, 2022, won't be eligible for this £200 offer.
Customers who choose the Spend & Save account can earn £5 in cashback a month for the first six months if they make 20 debit card payments each month.
This essentially means they would earn £30.
The same cashback applies with the Spend & Save Plus account but is available on an ongoing basis, rather than stopping after six months.
However, the Spend & Save Plus account comes with a £3 monthly fee, taking this into account, customers would earn £24 in one year.
Aldi releases Bailey's dupe that tastes just like peanut butter cups
It's worth noting both accounts come with instant access savings called Savings Pot where customers can earn 2.52% interest AER variable.
TSB also has its Monthly Saver account where customers can get 5.00% Gross/AER on their savings, fixed for 12 months.
There are other banks offering free money switch if you're not eligible for TSB.
For example, you can get the money when you change your account to one of several NatWest, RBS or Ulster accounts.
First Direct is paying new customers £175, while Lloyds is handing out £150 when you move to a Club Lloyds, Club Lloyds Silver or Club Platinum account.
Want all the biggest Lifestyle news straight to your inbox? Sign up for our free Daily Star Hot Topics newsletter
Source: Read Full Article