Rival banks offer up to £200 if customers switch, in a bid to entice unhappy TSB customers  

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  • HSBC will pay newcomers who switch to its Advance account £150
  • They must set up at least two direct debits and pay in £1,750 a month
  • Customers will get another £50 if they stay with the bank for at least 12 months 

Amelia Murray For The Daily Mail

High Street banks have launched a host of new switching offers worth up to £200 in a bid to entice unhappy TSB customers, and more are expected to follow suit.

HSBC will pay newcomers who switch to its Advance account £150 if they set up at least two direct debits and pay in £1,750 a month.

Customers will get another £50 if they stay with the bank for at least 12 months and set up mobile or internet banking – £200 in total. The offer ends on June 30, and you must use the Current Account Switch Service.

HSBC will pay newcomers who switch to its Advance account £150 if they set up at least two direct debits and pay in £1,750 a month

HSBC will pay newcomers who switch to its Advance account £150 if they set up at least two direct debits and pay in £1,750 a month

HSBC will pay newcomers who switch to its Advance account £150 if they set up at least two direct debits and pay in £1,750 a month

NatWest will pay customers £100 to move to one of its current accounts if they switch online before June 15. 

You must pay in at least £1,500 and set up online or mobile banking by July 13. The £100 will be paid by August 10.

Marks & Spencer Bank also offers a top incentive to those who switch to its current account. Customers will get a £125 gift card which can be used in M&S stores and then another £5 every month the account is topped up with £1,000 for a year.

You must also set up at least two direct debits.

Andrew Hagger, personal finance website Moneycomms, says: ‘There is an opportunity here for rival banks. I wouldn’t be surprised if more banks introduced switching bonuses or increased offers to ‘win over’ unhappy TSB customers.’ 

THIS IS MONEY’S FIVE OF THE BEST CURRENT ACCOUNTS

 

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