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TSB current accounts for April 2024
TSB has a nice set of current accounts, and you don't need to pay in much to access the rewards.
If you’re on the hunt for a current account with perks like cashback, TSB could be worth checking out. It has a soft spot for customers who are just at the beginning of their financial journey, such as minors and students.
Compare TSB’s current accounts
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Types of current accounts from TSB
TSB offers a range of current accounts, some of which offer rewards like cashback that might tempt you to switch. Here’s a quick overview of the TSB accounts on offer:
Spend & Save account
TSB’s main fee-free current account offering comes with a decent bundle of perks, including cashback for the first 6 months. Account holders can also open up to 5 saving ‘pots’ that pay interest, though the rate isn’t as competitive as some of the top standalone easy-access savings accounts. Compare other banks’ rewards accounts if you’re looking for other rewards or a juicy switching incentive.
Spend & Save Plus account
In exchange for a monthly account fee, TSB’s premium current account offers fee-free spending using your debit card abroad, an interest-free overdraft and all the features offered with the Spend & Save account. Like the fee-free account, Spend & Save Plus also offers monthly cashback, but this is not limited to the first 6 months after account opening.
Some banks offer cashback accounts that pay more each month and without a monthly fee so make sure you compare.
Student account
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!
Graduate account
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.
Under 19s account
As soon as they turn 11, you can open a TSB children’s account for your kids and they can enjoy earning interest on their account balance. 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.
Business account
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.
When looking at its current account perks and customer satisfaction scores, TSB falls short — as always, it’s worth shopping around to see if you can find a better deal elsewhere. ”
TSB customer reviews
In our independent 2024 customer satisfaction survey, 77% of TSB’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s friendly customer service. However, some cited poor online banking. Here’s what some of those TSB customers had to say:
“TSB provides great customer service and has really good app features. The online banking is simple and easy to do. And its really easy to open a account just do it online or in the branch. It gives you a savings account too!”
“I struggled to open a TSB account but the staff were more than happy to help me. They were friendly and helpful”
On the Apple App Store, TSB’s mobile banking app scored 4.8 out of 5 stars, based on a total of 457,000 user reviews. On the Google Play Store, it scores 4.5 out of 5 stars, based on over 205,000 reviews (April 2024).
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 50% of TSB customers would recommend their bank. This score puts it in 14th place in terms of overall service quality (results from August 2022).
- 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 bank’s online services.
Customer service information for TSB
| Email support | |
|---|---|
| Telephone support | |
| In-app or live chat | |
| Contact form | |
| Branch support |
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.
Bottom line
If you are looking for a current account that offers rewards and cashback, TSB could be worth considering, though some banks offer better deals. If the quality of customer service is your main priority, you may want to steer clear of TSB as it doesn’t score highly for customer satisfaction. If TSB’s current accounts are not for you, you can also compare other current accounts.
Frequently asked questions
Banking scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
To find out more, read our full methodology.
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