Finder rating
★★★★★
★★★★★
Expert analysis
Customer rating
★★★★★
★★★★★
Satisfaction survey
Good account features including saving pots and a round-up spare change option
High fees for card spending and cash withdrawals abroad
TSB current accounts for January 2022
TSB has a nice set of current accounts, and you don't need to pay in much to access the rewards.
While it doesn’t offer any switching incentive, the 5% interest rate on current account balances up to £1,500 is enough to make potential customers’ mouth water.
Compare TSB’s current accounts
Types of current accounts from TSB
TSB offers a good range of current accounts and has a soft spot for customers who are just at the beginning of their financial journey, such as minors and students.
Rewards current accounts
TSB’s main advantage is definitely the interest rate it offers on balances with its top current account. Compare other banks’ rewards accounts if you’re looking for other types of rewards or for a juicy switching incentive.
Learn more about reward and incentive accountsStudent accounts
TSB’s student account ticks all the boxes with a nice interest rate on balances and an overdraft option. However, don’t forget to compare deals – student accounts come with amazing discounts and offers at most banks!
Learn more about student accountsGraduate accounts
TSB’s has a graduate account with an ample overdraft option to kick-start your life as a grown-up. Graduate accounts help you make the financial leap between university and work as smooth as possible.
Learn more about graduate accountsChildren’s accounts
As soon as they turn 11, you can open a TSB children’s account for your kids and they can enjoy a 2.5% interest rate on the first £2,500. If you want your children to familiarise themselves with banking when they’re even younger, you can compare our selection of children’s accounts – some can be opened when they’re as young as seven.
Learn more about children’s accountsBusiness accounts
TSB’s business bank account offers free day-to-day banking for a set period, followed by a simple banking tariff. To be eligible you must be a sole trader, partner or director. The account offers specialist support and can be managed through the mobile app, internet banking, by phone or in branch. The account also comes with a business debit card.
Pros and cons of banking with TSB
- Interest on balances. Instead of going all in with rewards schemes and perks, TSB has chosen to reward its customers with a very competitive interest rate paid on the current account’s balance.
- Multiple ways to bank. TSB has over 500 branches across the UK, but you can also manage your accounts online, on the phone or through the smartphone.
- Mobile Banking App. Like most traditional banks, TSB’s app isn’t the most advanced you can find around – but it does include most basic banking functionalities.
- Global acceptance. TSB’s debit cards are on the Visa network and thus widely accepted around the world.
- A wide range of financial products. If you need something else, such as a mortgage or a savings account, chances are TSB has got you covered, as it offers a wide range of different financial deals.
- Poor customer service scores. An independent survey of service quality carried out by the Financial Conduct Authority shows that only 52% of TSB customers would recommend their bank. This score puts it in 14th place in terms of overall service quality (results from August 2021).
- Poor online and mobile banking experience. The same survey placed TSB in 14th place in terms of the proportion of customers who would recommend their banks online services.
Opening an account with TSB
To open an account with TSB, you’ll have to provide the following information:
- How much you expect to pay in each month
- Your salary details and any assets you have
- Your nationality/citizenship
- Three years of address history
- Proof of identity (passport, driving licence, EEA or Swiss national identity card)
- Proof of address (utility bill, bank statement)
You can open a TSB account online or by visiting a branch.
Why should I compare current accounts anyway?
With savings accounts paying increasingly less interest, getting a good deal for your current account is becoming more important. You might think they’re a pretty basic product that only needs to be fee-free and do the job, but truth is, you can sometimes squeeze some nice perks and incentives out of them. There’s a lot of competition for current accounts among banks these days, so consumers should milk it for what it’s worth – even if it’s just about getting the best switching incentive.
Also, your current account is probably the financial product you’ll end up using more often in your daily life, so it’s worth spending time looking for something that really suits your needs.
Our verdict
If you are looking for a current account that pays interest on in-credit balances, TSB is typically offering the top-paying accounts. If TSB’s current accounts are not for you, you can also compare other current accounts here.
Frequently asked questions
Banking ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
The customer satisfaction score ("Customers say") is based on a survey of 2,282 customers carried out in December 2021.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
More guides on Finder
-
What is day trading?
We examine the pros and cons, and who day trading is (and often isn’t) right for.
-
Best bank account switching deals in the UK 2022
We look at switching bonuses, what they are, how they work and which banks offer the best ones. If you’re fed up with your current bank, you could switch accounts and get a nice little cash bonus as an extra perk.
-
Can you have more than one current account?
Discover more about the rules on holding multiple current accounts.
-
Best credit cards for graduates
If you’ve recently graduated and want to apply for a new credit card, find out how to go about it and what to watch out for.
-
Compare the best business credit cards of 2022
Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. Compare interest rates and check your eligibility today.
-
Santander Select current account review
Learn more about the Santander Select current account to see if it’s right for you.
-
Virgin Money M Plus current account review
Discover what the Virgin Money M Plus current account has to offer in our review.
-
Monzo review: Is it worth it?
Is Monzo’s app-only current account the right option for you? Read our review to get the low-down on all of the features of the account, its card and the app.
-
Halifax Reward current account review
Discover what the Halifax Reward current account has to offer to see if it’s right for you.
-
Yorkshire Bank Private Current Account review
Learn about private banking with Yorkshire Bank to see if it’s right for you.