The bank is offering eligible people who switch a cash bonus
Brits could pocket up to £230 by April 2026 simply by switching their bank account and taking advantage of a few other offers – but time is ticking to maximise the rewards. TSB Bank has offered people who are eligible a tempting cash bonus of at least £150 for leaving their current banking provider.
Those who change to TSB’s Spend and Save account can keep earning monthly cash bonuses throughout 2026. April offers an extra opportunity for savvy savers looking to capitalise on the perks of changing their banking provider.
Beyond the initial £150 bonus, there’s an additional £50 up for grabs in April 2026. In the meantime, customers can earn £5 monthly boosts (potentially totalling £30 on top of the £150 and £50 for those starting in January).
Each month, customers who make 20 or more direct debit payments receive £5 back from TSB. However, not everyone across the UK qualifies for the switch.
TSB has excluded anyone who previously moved to their banking services and claimed a cash bonus for doing so since October 2022, reports the Express. To make the switch, go the the TSB website here.
How to secure the £150 offer
- Complete a full switch to a Spend and Save account using the Current Account Switch Service before March 20, 2026.
- Log onto the TSB app and deposit at least £1,000 into the new account.
- Make five (or more) payments using your new TSB debit card before March 20, 2026.
At this stage, the bank will confirm the customer’s eligibility for the £150 bonus, which gets paid straight into the account. For those eyeing that extra £50, there’s an additional requirement to meet for the full bonus package.
The TSB website explains: “Deposit a total of at least £1,000 into your TSB account in April 2026. We’ll pay you £50 by May 31, 2026.”
What’s in the switch deal?
In addition to the cash bonus, TSB is offering a helping hand to anyone joining its existing customer base of over five million from a rival provider, making the move less stressful. Those who opt for a Spend and Save account will receive help with:
- Moving your previous account balance over to your TSB current account.
- Closing your old account.
- Copying over the details of everyone you’ve sent payment to (your payees).
- Transferring all active Direct Debits and standing orders to your TSB account.
- Redirecting regular income like salary, pension, or benefits payments to your new account.
- Adding a redirect so any payments to your old account automatically go to your new one.
However, TSB has said that banking customers will still need to handle a few tasks themselves, such as transferring any bills or payments that use your debit card details and updating the payment details used for Apple Pay or Google Pay.
