TSB

TSB current accounts for February 2024

TSB has a nice set of current accounts, and you don't need to pay in much to access the rewards.

3.9 ★★★★★ (141 reviews) Write a review

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TSB has all the advantages of a big bank, from security to global acceptance, but unlike many big banks, it focuses more on customers who don’t have that much money to start with. It doesn’t really offer a premium account, but you only have to pay £500 into your current account to access the top-level benefits.

Compare TSB’s current accounts

1 - 4 of 4
Name Product Ratings Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
CASHBACK
Spend & Save
Finder score
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
39.9% EAR variable
tag iconEarn £5 cashback a month when making 20 or more debit card payments each month..
Current account switch service guarantee badgeIf you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable/APR representative.
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CASHBACK
Spend & Save Plus
Not yet rated
£3 per month
No minimum funding requirement
0% AER
N/A
tag iconEarn £5 cashback a month when making 20 or more debit card payments each month..
Current account switch service guarantee badge Account fee of £3 per month.
Go to site
View details
Cash Account
Not yet rated
£0
No minimum funding requirement
0% AER

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Student
Not yet rated
£0
No minimum funding requirement
5% AER
N/A
tag iconSave £5 a month on Sky Stream and Netflix contracts until 28th March 2024.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable.
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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.

  • Spend & Save account

    TSB’s main fee-free current account offering comes with a decent bundle of perks, including cashback for the 6 months after you open the account. Account holders can also open up to 5 saving ‘pots’ which each offer rates that can compete with some of the best standalone easy-access savings accounts. Compare other banks’ rewards accounts if you’re looking for other rewards or a juicy switching incentive.

    Learn more about reward and incentive accounts

  • 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. 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 accounts

  • 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.

    Learn more about graduate accounts

  • 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.

    Learn more about children’s accounts

  • 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.

    Learn more about business accounts

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 4.4 out of 5 stars, based on over 197,000 reviews (February 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 pays interest on in-credit balances, TSB is typically offering the top-paying accounts. However, if customer service quality is your main priority, then you may want to steer clear. If TSB’s current accounts are not for you, you can also compare other current accounts here.

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.

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.

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