TSB is offering an initial switching bonus, more cash down the line and cashback on top
TSB is offering a £200 switch until 20 March 2026. It’ll earn you £150 for switching your bank account to TSB, another £50 for depositing funds in April and potentially another £30 for using a cashback site. Here’s what you need to do to get each of the three payouts and everything you need to know.
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How much can you get for the TSB bank switch?
As usual, this TSB switch offer has three parts to it. It starts with a fixed £150 if you meet the conditions outlined below. Then there’s £50 more for depositing at least £1,000 in April.
There’s also up to another £30 on offer when you open the account via a cashback site — Quidco pays £30 for the Spend & Save account and £40 for the Spend & Save Plus account, and you’ll get an £18 bonus for signing up to our newsletter first. All in, you could have £230 by the end of May.
This is one of the higher-paying switch offers, but it has. a few extra hoops to jump through to get it.
Who can get the TSB switching offer?
The offer is available from TSB’s branches and website for opening one of two accounts:
- TSB Spend & Save
- TSB Spend & Save Plus
You can only get one bonus per person, regardless of whether you have more than one solo or any extra joint accounts.
In addition, you’ll also only get one payment per joint account, not one each. So if two of you want the cash, you’re better off opening two new individual accounts.
You’re barred from getting the free cash if you’ve previously had switching cash from TSB since 1 October 2022.
Existing TSB customers can also get the money. You can switch an account into your existing account to get the money, but the other account needs to be from a different bank account.
When will the offer end?
This offer runs from 13 January 2026, and to get the money, you need to fulfil all the requirements by 20 March 2026.
This means that at the very latest, you’ll want to have started a switch by 13 March 2026 to allow for the seven days for the account switch to happen, but I wouldn’t leave it this late if you want to get it, as TSB may have withdrawn the offer already.
What are the requirements for the TSB switching offer?
£150 switching bonus
To get the £150, you need to open one of the new accounts detailed above or already have one, before the offer is withdrawn.
As usual, you need to use the Current Account Switching Service to move over an account from a different bank. TSB will take you through this process while you’re signing up for an account, including asking for the details of the account you plan to transfer over. You need to choose to have the old account closed as part of the process. You need to complete this by 20 March 2026.
You’ll need to deposit £1,000 into the account by 20 March 2026. That can be one deposit or over several. The money doesn’t need to remain in the account, so you can transfer it back out straight away if you need to (or transfer a smaller amount in and out several times to make up the £1,000. This can’t come from another TSB account, and if you’re switching into an existing TSB account, any existing funds won’t count towards the total.
In addition, you’ll need to log in to the TSB app and use the debit card five times by 20 March 2026 . There’s no need to move over any direct debits via the switch to get the payout, but if you have any on the account you’re switching over, they’ll be moved automatically.
You cannot have closed the new account or be in the process of switching away before the payment is due, so wait until the cash is in your account if you do want to move on.
After you’ve done all this, you’ll get £150 into your account by 7 April.
Extra £50
There’s an extra £50 paid out to accounts that pay in £1,000 anytime in April. Again, this doesn’t need to all be in one go, but it does need to come from a non-TSB account. The £150 you received for switching doesn’t count towards it.
You’ll then get another £50 paid into your account by 31 May 2026.
Up to £30 extra cashback
With the TSB account, you’ll get a £5 a month reward, which comes with the Spend & Save accounts anyway and doesn’t require a switch. With the Spend & Save, it’s just for the first six months, so a total of £30 is available here. If you’re an existing customer who’s already had this initial offer you won’t get it again as part of the switch.
It carries on after six months with the Spend & Save Plus account, but you’ll need to pay a £3 a month fee. That means you’ll get £18 less overall with this account over those six months – so I’d go with the standard TSB Spend & Save account.
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Plus, new TopCashback customers get a high paying £18 welcome offer
What are the requirements for the extra bonus?
Up to £40 cashback site payment
TopCashback and Quidco are offering money for opening the account, and you can get it in conjunction with the switching offer.
Rates change, but there’s £40 for the paid Plus account at the time of writing, while it’s a lower £30 for the free option.
There are some extra terms and conditions here. You’ll need to deposit £500 a month and make two debit transactions (direct debits, standing orders and card payments) in three of the first four months.
You’ll also need to register for internet banking and paperless statements in the first 90 days. After 120 days they’ll check to see if you’ve met the criteria, though payment will probably take a lot longer.
If you’ve not already signed up to either cashback sites make sure you get a welcome bonus worth up to £20.
When will the money be paid?
As long as you meet the criteria, the first £150 will be paid to your account by 7 April 2026.
The additional switch offer from TSB is paid by 31 May 2026. And the additional cashback is paid after the qualifying months. You will need to keep the account open until you receive the money.
The cashback site payment will be at least 120 days after opening, probably longer.
TSB switching summary
| Switching bonus | £150 |
| Additional bonus | £50 |
| Account cashback | £5 a month (only for six months on free account) |
| Cashback site bonus | Up to £40 |
| Switch bonus paid | by 7 April and 31 May |
| Open to existing customers | Yes |
| Switching requirements | Switch using the Current Account Switch Service and close old account by 30 March 2026 |
| Deposit £1,000 by 20 March 2026 | |
| Use the debit card 5 times by 20 March 2026 | |
| Log in to online or app banking by 20 March 2026 | |
| Account cashback requirements | Make 20 debit card transactions per calendar month |
| Cashback site bonus requirements | Make two debit payments in three of the four months from opening Pay in £500 a month in three of the four months from opening |
| Exclusions | Not already have received a TSB switching bonus since 1 October 2022 |
| Offer limited to once per person and account | |
| Offer ends | Unknown |
Which TSB account should you open?
While nice to get, the monthly £5 reward on both accounts is a bit of a faff to get. It makes sense that TSB want you to use your card often and will reward you for that, but for the effort you have to go through, it’s not much of a reward. You may be better off using a cashback credit card.
You’re probably best going for the free TSB Spend & Save account, but if you really think you’ll stick at it for more than the initial six-month period, it could be worthwhile going for Spend & Save Plus. In addition, you’ll initially earn a higher cashback site bonus.
What TSB customers think
TSB customers score the bank 3.41 out of 5. You can read more about what they like and what they don’t on our sister site Smart Money People.
TSB Spend & Save account benefits
| Benefits | £5 cashback a month for six months |
| Savings pots paying 1.7% | |
| Save the pennies auto savings feature | |
| Fee | None |
| Requirements | Make 20 debit card payments each calendar month |
TSB Spend & Save Plus account benefits
The extra features found with this account are available for free elsewhere.
| Benefits | £5 cashback a month |
| Savings pots paying 1.7% | |
| Save the pennies autosaving feature | |
| £100 interest-free overdraft buffer | |
| Fee-free spending overseas | |
| Fee | £3 a month |
| Requirements | Make 20 debit card payments each calendar month |
Is it worth switching to TSB?
Zoe’s analysis
This is a pretty generous switch offer available at the moment, albeit a little lower than last time. If you’re eligible for it, which is essentially just those who haven’t had a switching bonus from TSB since October 2022, then it’s definitely worth going for. The first £150 is pretty easy to get, and going via a cashback site gets you a little more. The following £50 is easy enough, but you may need to set yourself a reminder to add the money if you don’t plan to use the account as your main one.
The extra cashback on the account is worth another £30 and would require you to use your debit card 20 times each month. Even if you don’t plan on keeping the account, it could still be worth using for a short period to get the extra payouts.
Are there better switching offers?
If you’re a repeat switcher and aren’t planning to keep the account, then this is one to consider, but could require more work to get the final £80. But if you plan to just switch once, you may be better off with other accounts that have added rewards or cashback.
These come and go, so here’s everything you need to know about all these and other different bank switching deals.
The best bank switch bonuses
Check out our list of all the bank switch offers you can get when opening a new current account
Previous TSB switch offers ran in
- November 2025 (£150 + £60 + £30)
- July/August 2025 (£100 + triple rewards + freebie)
- May/June 2025 (£100 + triple rewards + freebie)
- August/September 2024 ((£100 + triple rewards + freebie)
- May/June 2024 (£100 + double rewards + freebie)
- January 2024 (£125 + double rewards)
September / October 2023 (£150 + double rewards) - July / August 2023
- February / March 2023
- October / November 2022
