TSB bank sends £190 cash into accounts for customers following debit card rule | Personal Finance | Finance

Banking giant TSB is sending £190 cash payments into customers’ bank accounts – as long as they follow one condition.

The bank has become the latest to offer a bank switch bonus in a bid to lure people into changing from their current account. Bank customers, as Martin Lewis has in the past pointed out, are notoriously loyal and will often stick with the same bank for decades even though there are better rates or bonuses elsewhere.

Fortunately, the industry standard switching service makes it easy to change banks, as all your direct debits will be transferred over, so you don’t have to worry about setting up all your payments again. TSB is hoping to attract customers with a new offer giving people who switch to it a £100 payment, followed by another £90 in cashback. Finally, it will also offer a £120 voucher to those who stick with the bank for longer.

First, TSB will give customers a £100 welcome bonus on one condition – that you actually use the debit card.

To get the cash, you must switch to its Spend & Save account before July 19, 2025. Then, log into the TSB Mobile Banking App and make at least 5 payments on your debit card. You’ll then be paid the switching bonus between August 2 and 16.

This is then followed by £90 in cashback. To get this, you can earn £15 cashback on spending each month for up to 6 months, triple the amount of cashback TSB normally pays.

To get that, you must make 20 or more debit card payments each calendar month, and cashback is then paid the following month.

Finally, those who stick with TSB until December 2025 at least, completing all the welcome steps and who make at least 20 debit card payments in December, will be offered a reward worth £120 in January 2026.

TSB said: “Enjoy a £120 voucher that you can use for a hotel stay abroad or a staycation in the UK” or “Get tickets for attractions and venues all across the UK, from watersports in Cornwall to museums in the Scottish Highlands.”

TSB says it will complete your switch from your old account within 7 days ‘guaranteed’ and you can start using your new account straight away.

The change comes after members of Martin Lewis Money Show Live audience on ITV1 had admitted they set up ‘mule accounts’ which they just switch from bank to bank constantly to collect bonuses.

One woman speaking on his show in June last year told Martin: “I just wanted to say thankyou to Martin for the bank switch information on his show. I did three bank switches and got £575. I used the cash on a long awaited four night break in the beautiful city of Krakow. Free holiday, thanks again.”

Martin then explained how you can set up a ‘mule’ bank account to score free bonuses. He said: “Krakow is cracking, that’s like the perfect success for a show about holidays. Just noting, you can switch multiple times as long as you meet the criteria, though it can affect your credit score. So if you’re about to apply for a mortgage don’t do it.”