Martin Lewis: Money Saving Expert shows how to get £190 from new TSB Spend and Save bank account switch offer

• TSB has launched a new 'Spend & Save' account
• The deal includes £100 upfront and £15 cashback per month for six months
• You must switch your old account to TSB using the Current Account Switch Service
• Spend five times in the first month for the upfront bonus, and 20 times monthly for six months to get the cashback
• Make 20 debit card payments in March 2025 to receive an additional reward in April, such as cinema tickets or a hotel stay
• The bonus is available to those who haven't received a switch bonus from TSB since October 2022

Martin Lewis’ Money Saving Expert team has shed light on a brand new bank account switching offer which could see you net up to £190.

These sorts of offers come and go at a moment’s notice, but while last week saw the end of two similar switching deals offered by major banks, TSB has stepped in with a brand new one of its own.

Its new ‘Spend & Save’ account provides £100 upfront, £15 cashback per month for six months, and an additional perk in April, such as six Odeon cinema tickets or a one-night hotel stay for two. Here is everything you need to know about it...

How do I get £190 from TSB’s Spend & Save account?

Remember that to qualify for switch bonuses, you must close your old bank account and complete a full switch using the Current Account Switch Service.

Your new bank can facilitate this process, and the service transfers all payments, Direct Debits and standing orders to your new account automatically.

It’s also advisable to download several years' worth of statements from your old bank before switching, just in case you need them later for any reason.

You must use the official Current Account Switch Service to be eligible for these offers, and the accounts involved must be with different banks.

To maximise the reward from TSB’s Spend & Save account, you will need to use the debit card for spending each month.

Make five or more transactions in the first month to qualify for the £100 upfront bonus, then make 20 or more transactions in each of the first six months to earn the £15 monthly cashback.

To get the £100 bonus:

• Open the account online, via the app or in a branch
• Switch an account from a different bank within 21 days
• Make five or more debit card transactions by Friday 27 September, and log into the mobile app
• The £100 bonus will be paid between 15 and 25 October

If you make 20 or more debit card payments in March 2025, you will receive an extra reward in April, and you will be able to choose from a one-night hotel stay for two (at selected hotels), six Odeon cinema tickets or a six-month Now Entertainment membership.

Full terms and conditions can be found on TSB's website, and eligibility for the bonus requires that you haven't received a switch bonus from TSB since 1 October 2022.

Have you tried switching to TSB's new 'Spend & Save' account or any other bank offers recently? Share your experiences and tips in the comments section.