TSB has introduced a new competition offering customers the chance to win up to £10,000 in cash prizes. Customers who deposit £5,000 into their TSB personal current account or savings account before September 30 will automatically be entered into the Dream Fund prize draw.
A total of 155 cash prizes will be awarded by TSB, including five £10,000 prizes, fifty £250 prizes, and one hundred £100 prizes. To qualify, the £5,000 deposit must come from a non-TSB account, and customers must be 18 years or older and UK residents. Every £5,000 deposited will earn one entry into the prize draw.
Deposits below £5,000 in partial amounts will not count towards an entry, even if they add up to £5,000. Detailed terms and conditions for the prize draw can be found on the TSB website.
This new Dream Fund prize draw is an additional offering from TSB, supplementing the monthly prize draw for personal current account customers. The monthly draw gives customers the opportunity to win a city break for two to Toronto and Niagara Falls in Canada or £300 in Red Letter Day vouchers.
Surina Somal, Everyday Banking Director at TSB, expressed excitement about providing more incentives for customers to bank with TSB. The bank recently discontinued its bank account switch offer, which had a total value of £310, including cash rewards and additional perks for new customers switching to the TSB Spend and Save account.
Other banks are currently offering switch bonuses as well. For instance, First Direct is offering £175 to customers who switch to its 1st Account, subject to certain criteria such as minimum deposits and account activities.
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