TSB has introduced a fresh incentive for customers with the launch of a new prize draw offering a chance to win up to £10,000. To participate, customers need to deposit £5,000 into their TSB personal current account or savings account by September 30, automatically entering them into the Dream Fund prize draw.
In this promotion, TSB plans to award a total of 155 cash prizes to participants, including five £10,000 prizes, fifty £250 prizes, and one hundred £100 prizes. The deposited £5,000 must originate from a non-TSB account, and customers must be at least 18 years old and reside in the UK. Each £5,000 deposit qualifies for one entry into the prize draw.
For instance, depositing £10,000 in a single transaction would result in two prize draw entries. However, partial amounts below £5,000 will not count towards an entry, even if they cumulatively reach £5,000. Detailed 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 opportunities 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 for providing customers with additional benefits and rewards, emphasizing TSB’s commitment to enhancing customer experience through innovative initiatives like the prize draw.
In a related development, TSB recently discontinued its bank account switch offer valued at £310, which included upfront cash rewards and additional perks for new customers who switched to the TSB Spend and Save account. While this offer has ended, other banks are currently presenting switch bonuses to attract new customers.
For example, First Direct is offering customers £175 for switching to its 1st Account, with specific requirements such as a minimum payment, setting up Direct Debits or standing orders, and using the debit card a certain number of times within a specified period.
It is noteworthy that various banks are offering incentives to encourage customers to switch accounts, providing avenues for individuals to explore different banking options and benefits tailored to their preferences and financial goals.