TSB has introduced a fresh prize draw offering customers the chance to win up to £10,000. Customers who deposit £5,000 into their TSB personal current account or savings account before September 30 will automatically enter the Dream Fund prize draw.
A total of 155 cash prizes will be awarded, including five £10,000 prizes, fifty £250 prizes, and one hundred £100 prizes. The deposited £5,000 must come from a non-TSB account, and customers must be at least 18 years old and residents in the UK. Each £5,000 deposit earns one entry into the prize draw.
For instance, depositing £10,000 in one transaction will secure two entries. Partial amounts below £5,000 are not eligible for entry, even if they add up to £5,000. Further details and terms and conditions can be accessed on the TSB website.
This new Dream Fund prize draw complements the existing monthly prize draw for TSB personal current account customers, offering a chance to win a city break for two to Toronto and Niagara Falls or £300 Red Letter Day vouchers.
Surina Somal, Everyday Banking Director at TSB, expressed enthusiasm about providing customers with more incentives to bank with TSB. The recent withdrawal of the £310 bank account switch offer by TSB, which included cash rewards and perks, was highlighted following a warning from financial expert Martin Lewis.
Apart from TSB, other banks like First Direct are also offering switch bonuses to customers, such as a £175 reward for switching to its 1st Account. Requirements include paying a minimum of £1,000, setting up two Direct Debits or standing orders, logging into digital banking, and making five debit card transactions within a specified period.
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