TSB — fees, features, catches and eligibility
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
Quick answer
TSB is a high-street bank with branches and an app. Its everyday Spend & Save account has no monthly fee and pays £5 cashback a month for up to the first six months if you make 20 or more debit card payments, as of 4 October 2026. Spend & Save Plus costs £3 a month, keeps paying the £5 cashback each month and has no TSB fees on card use abroad.
TSB current account customers can open a Monthly Saver paying 5.00% gross/AER fixed for 12 months on £25 to £250 a month. TSB says it’s now part of Santander.
Who it’s for
- People who want a branch network as well as an app
- Card users who make 20 or more payments a month and can earn the £5 cashback
- Regular savers who can put away £25 to £250 a month
- Start-ups wanting a business account with 30 months of free day-to-day banking
Who should avoid it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You want a large cash switching bonus — we didn’t see a current TSB switch offer on 4 October 2026
- You rarely use your debit card — cashback needs 20 cleared card payments a month
- You want to keep a big balance in easy access — Savings Pot rates are low
Key features
- Spend & Save: £0 a month, £5 cashback for up to six months
- Spend & Save Plus: £3 a month, £5 cashback every month, no TSB fees abroad, first £100 of arranged overdraft interest-free
- Savings Pots: up to five, £100,000 each, 1.45% AER (Spend & Save) or 1.55% AER (Plus) variable
- Monthly Saver: 5.00% gross/AER fixed for 12 months, £25 to £250 a month
- Cash ISAs, Fixed Rate Bonds and a Junior Cash ISA
- Business Plus account for small businesses
- Current Account Switch Service in seven working days
Eligibility
- UK resident, with a passport or full UK/EU driving licence
- A phone or tablet that can scan a QR code for the ID check if you apply online
- TSB says you can open an account in about 15 minutes
- The Monthly Saver is only for TSB current account customers
Fees and rates
| Item | Detail |
|---|---|
| Spend & Save monthly fee | £0 |
| Spend & Save Plus monthly fee | £3 |
| Cashback | £5 a month with 20+ debit card payments (six months on Spend & Save; ongoing on Plus) |
| Monthly Saver | 5.00% gross/AER fixed for 12 months, £25 to £250 a month |
| Savings Pots | 1.45% AER (Spend & Save) / 1.55% AER (Plus) variable |
| Arranged overdraft | 39.90% (Spend & Save) / 40.10% (Plus) representative APR variable |
| Business Plus | 30 months free day-to-day banking for start-ups, then £5 a month if the average balance is under £10,000 |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
The catch
On Spend & Save, cashback stops after six months. Direct Debits and cash machine withdrawals don’t count towards the 20 payments, and pending payments don’t count either.
Spend & Save Plus costs £3 a month, so the £5 cashback only leaves you £2 ahead if you qualify every month.
The arranged overdraft is 39.90% representative APR (variable) on Spend & Save and 40.10% on Spend & Save Plus.
Check the latest terms on TSB’s site before you apply.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Does TSB charge a monthly fee?
Spend & Save has no monthly fee. Spend & Save Plus costs £3 a month, as of 4 October 2026.
How does TSB cashback work?
Make 20 or more debit card payments in a calendar month and you get £5. On Spend & Save it lasts up to the first six months; on Spend & Save Plus it continues while TSB runs the offer.
Do Direct Debits count towards TSB cashback?
No. Debit card payments online, in store and by phone count, including Apple Pay and Google Pay. Direct Debits and cash withdrawals don’t.
Does TSB pay a switching bonus?
We didn’t see a current switch offer on TSB’s site on 4 October 2026; it lists only previous offers.
How long does switching to TSB take?
Seven working days using the Current Account Switch Service.
What is the TSB Monthly Saver rate?
5.00% gross/AER fixed for 12 months on £25 to £250 a month, for TSB current account customers.
Does TSB charge fees abroad?
Spend & Save Plus has no TSB fees for card payments or withdrawals abroad. Check the fee information for Spend & Save before you travel.
Is my money safe with TSB?
TSB Bank plc is authorised by the PRA and covered by the Financial Services Compensation Scheme (FSCS), which protects eligible deposits up to £120,000 per person, per banking licence. TSB says it’s now part of Santander, so if you hold money with both, check on fscs.org.uk whether the limit is shared.
Is TSB part of Santander?
TSB’s own website says it’s now part of Santander. Your TSB accounts and terms stay with TSB unless you’re told otherwise.
Does TSB have branches?
Yes. You can bank in branch, by video call, online and in the app.
Can I open a joint account with TSB?
Yes. If you each have a TSB current or savings account you can open one in the app; otherwise book a branch or video appointment.
Does TSB offer business accounts?
Yes. Business Plus is the one business current account open to new customers, with 30 months of free day-to-day banking for start-ups.
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