TSB to end current account switching offer on Sept. 8, removing up to £310 incentive

TSB said it will withdraw its current account switching promotion at 23:59 on Monday, Sept. 8, removing an incentive package worth up to £310 for customers who open and switch to qualifying accounts.

The offer applies to new and existing customers who open a TSB Spend & Save or Spend & Save Plus current account by the deadline. Customers can receive a £100 switching payment, up to £90 in cashback over the first six months, and a choice of rewards worth up to £120 in March 2026 — together amounting to a maximum of £310 in value if all conditions are met.

To qualify for the £100 switching payment, TSB requires that the switch is carried out through the Current Account Switch Service and that the switch is complete by Sept. 22, 2025. The account itself must be opened by the 23:59 Sept. 8 deadline using TSB's mobile app, website or in branch.

TSB said the cashback component is paid over the first six months after account opening, and the rewards portion will be offered in March 2026. The bank has not changed the payment schedule disclosed in its promotion as of the withdrawal announcement.

The Current Account Switch Service (CASS) is the industry-wide mechanism used by UK banks that moves standing orders and direct debits to a new account and guarantees that the process will be completed within seven working days, with protection for any lost payments. Customers switching to TSB under this promotion must use CASS to secure the £100 switching payment.

TSB's move follows a common pattern among UK banks and building societies, which periodically run time-limited switching incentives to attract customers. Such offers frequently require customers to meet activity criteria and other eligibility conditions; TSB's promotional terms set out requirements for account opening, switching method and timing.

Consumers considering the offer should read TSB's full terms and conditions and check any eligibility rules, including whether existing relationships with TSB such as mortgages or credit cards affect qualification. The bank has indicated the promotion is available to both new customers and some existing customers, subject to eligibility.

Those who wish to take advantage of the deal must act before the Monday night deadline to open an account, and ensure their switch via the Current Account Switch Service is completed by Sept. 22 to receive the £100 payment. Customers who miss the opening cutoff may not be eligible for the advertised rewards even if the switch completes later.

Prospective switchers are advised to compare account features, fees and interest rates as well as one-off incentives before switching banks. Promotional payments can make offers attractive in the short term, but product features and ongoing costs typically determine the longer-term suitability of a current account.