Major high street bank giving customers free £310 in cash and rewards

Major high street bank giving customers free £310 in cash and rewards Newspoint | 21/05/2025 00:39:19

TSB has launched a new switch offer worth £310 in cash and rewards. Those who switch to the Spend & Save or Spend & Save Plus current account will get £100 upfront, £90 cashback in the first six months of opening, plus a choice of two rewards.

The switch must be completed by July 19, either through the Current Account Switch Service, the TSB app, TSB website or in a branch. To receive the £100 switching bonus, you need to log into the TSB app and make at least five payments before July 19.

The £100 bonus will be paid between August 2 and August 16, 2025. For the first six months, TSB customers also get triple cashback of £15 each month when they make at least 20 debit card payments in the calendar month.

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This means you could get a total of £90. Any cashback will be automatically paid in the next calendar month. Finally, you get a choice of two rewards if you make 20 debit card payments in December 2025.

The options include a £120 hotel voucher or access to 12 months of activity tickets for hundreds of UK attractions.

Surina Somal, Everyday Banking Director at TSB said: “We’re pleased to be able to reward new customers who choose to bank with TSB.

“With so many account features and benefits, TSB provides a range of options and support for customers to create healthy habits around their finances and build confidence with their money.”

is paying customers £175 if they switch their everyday banking to its current account. With First Direct, you must pay at least £1,000 and open two Direct Debits or standing orders from the account within 45 days of opening it.

You must also register and log onto digital banking, within 45 days of the account opening and spend on your debit card five times.

NatWest is offering a switch offer of £150 when you open a NatWest Reward account, plus £36 a year cashback and access to a 6.17% interest regular saver.

The account comes with a £2 monthly fee, but you get £5 a month cashback when you pay in £1,250, so this cancels the fee out. To get the offer, you must set up at least two Direct Debits and log into mobile banking each month.

If you move to Co-operative Bank, you could get a free £100, plus £25 a month for three months and a 7% interest linked regular saver.

To get the money, you have to deposit £1,000 within 30 days of the switch, have two Direct Debits, register for online banking or its mobile app, and make at least ten transactions using the debit card.