Fancy making £50 without much effort? Then take a look at opening a new current account with TSB – it will take you 15 minutes at most and you don’t even have to close your old account.
I’m a big fan of account switching. In fact, I probably switch bank accounts a couple of times every year, all so I can bag the bonus on offer. It’s some of the easiest money you can make.
However, financial uncertainty around Covid-19 has seen a lot of banks stop these offers, so I had written this year off. But imagine my delight when I found out that there was still an incentive on offer. And best of all, I could qualify without switching accounts.
What is the account?
This is for the Classic Plus account with TSB. The main benefit to the Classic Plus is that it pays 1.5% on credit balances up to £1,500. That may not sound like much, but you will struggle to find a better interest rate elsewhere.
The account can come with an overdraft, but this needs to be approved.
How do I earn the £50?
You will simply need to sign up to your new TSB account through Quidco.
If you’ve never heard of Quidco before, it’s one of the biggest cashback sites in the UK which offers you money back from most of the major retailers. It’s just a matter of clicking on a link and waiting for your cashback to be paid.
If you’re not a member already, then joining Quidco will take a couple of minutes. And signing up for your TSB account shouldn’t take more than 15 minutes.
£50 for 20 minutes work? Yes please.
Terms and conditions
Of course, these bonuses all come with T&C’s that you need to keep to. In order for you to qualify for the £50, you have to
- Register for Internet Banking, paperless statements, and paperless correspondence within 90 days of opening the account.
- Keep your account open for at least 120 days;
- In three out of the first four calendar months after you’ve opened your account:-
(a) Pay in at least £500 each month; and
(b) Make at least two debit payments out of your account each month.
A few tips
The £500 paid into the account each month doesn’t have to come from your wages and can be from anywhere. You can just transfer the money from your main account and transfer it out again.
The 2 debits can include Direct Debits and Standing Orders. So why not open an account with a savings app to cover these debits?
In fact, there are 2 apps that will pay you £5 each for joining and trying out their apps.
When using cashback sites, only use their links and do not visit the store any other way. If you accidentally do, just clear your cookies and click on the cashback link again
And it can take a few months before the £50 to reach your Quidco account. That’s completely normal, so don’t worry.
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