Bank TSB is paying out cash to new customers who switch to them from rivals here’s how to get the free £190 in your pocket – but there’s a catch you must be aware of
Customers of banks such as Nationwide, Lloyds, NatWest and Santander have the opportunity to pocket a cool £190 in free cash – but time is running out.
This enticing offer comes from TSB, who are looking to lure new customers from their rivals with this generous deal. To qualify, new customers must open a Spend and Save account and adhere to certain rules before September 22.
A free £100 payment will be awarded to those who log into the TSB app and use its debit card five times by the specified date. This can include everyday simple purchases such as your morning coffee, groceries and even paying for the public transport. An additional six monthly payments of £15 will then follow over the next six months, provided the debit card is used 20 times each month.
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In total, customers can receive £190 just by using their debit card – which is what we use on a daily basis. New customers can also enjoy other perks, including a £120 hotel credit, reports Birmingham Live.
Martin Lewis’ Money Saving Expert (MSE) is promoting this deal and urging interested parties to act swiftly before the 22 September deadline. They explained: “Newbies switching to the TSB Spend and Save current account get: A) A free £100 provided you log in to the app and use its debit card five times by Sep 22 – hence why speedy switching is crucial.”
“Just buy five separate bananas if it’s a rush. B) And a free £15/month for 6 months provided you use its debit card 20 times a month (not an issue for most, think of all those contactless pings).”
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It continued: “C) Plus £120 hotel credit (to use at an Expedia sister-site) if you use its debit card 20 times during Feb 2026 – its way of encouraging you to keep the account until then.”
This initiative is to attract new customers with cashback and reward-based incentives. However, it’s important to note that TBS requires customers to deposit a minimum of £500 into the account every month to remain eligible for the monthly extra cash rewards.
The latest reports by UK Finance have revealed that more than 97% of the UK population owns a debit card, making it one of the most common methods of payment in the country for overall spending necessities, especially in online purchases.