How to get £150 free to share with a mate – but they’ll have to switch bank accounts
TSB is giving existing customers the chance to get the banking bonus - if they persuade a pal to switch to the challenger bank
TSB customers who get their mates to join the challenger bank will be able to share £150 from today.
The bank has extended its "recommend a friend" offer until next month - meaning you can get the banking bonus if you can persuade a pal to sign-up.
Customers with its Classic Plus account will get £75 for referring a pal if they open the same account - and they'll get £75 too.
It's not the first time the bank has offered the deal - but the £150 bonus was only available to the first 5,000 customers who signed-up.
And if you're feeling especially savvy, existing customers can refer up to five friends - meaning you and your pals can share £375 - all for switching banks.
The offer runs from today until April 9 so you haven't got too long to take advantage.
'Recommend a friend' offers
TSB isn't the only bank offering cash to you and your mates for getting them to switch.
First Direct - You can £50 if you recommend a friend to sign-up to the telephone bank - with your friend pocketing £100.
Nationwide - You can share £200 between you and your mate if they switch their main current account to the building society.
And some of the other banks offer pretty decent switching incentives for new customers:
HSBC - Get £150 if you switch to HSBC's Advance Account plus another £50 after a year. It does have a high minimum monthly pay-in of £1,750.
First Direct - You'll get £100 if you switch to First Direct.
Halifax - You can get £125 if you open its Reward account. The deal runs until March 19.
If you fancy it, existing customers need to .
You'll then be sent an email and text message with a link you can sent to your friend to set up their account.
They'll then need to pay at least £500 to their new account and set up at least two direct debits.
You'll then both get your money 28 days after the switch has been completed.
Craig Bundell, TSB’s director of personal current accounts, said: "As Britain’s challenger bank, it’s our mission to make banking better for all UK customers and this new offer is another example of that.
"Classic Plus is already one of the best current accounts available in the UK and we saw around 1,000 customers a day vote with their feet to bring their banking to TSB in 2017.
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"Since we launched our new ‘recommend a friend’ offer last month, it’s been great to see customers voting with their feet to join TSB and make the most of our offer.
"As it’s been so popular, I’m really pleased that we’re now bringing it back so we can continue to reward our existing customers alongside new customers who join us – with both pocketing £75 each."
The was launched back in 2013 in a bid to encourage stiffer competition between banks and help fed-up customers get better service.
More than 4million have switched so far.
Is switching worth it?
Bank switching has become a big thing in recent years.
In an effort to drum up competition between complacent banks, the current account switching service was introduced to make it easier to swap.
It should take no longer than to switch than seven-working days - your new bank should handle the entire process for you and switch over all your direct debits and standing orders too.
There are lots of offers on the market for switching - £75 just for recommending a friend is pretty decent and it's not even the best available - and if you're fed-up with the service you're getting at your current bank, you should definitely think about taking advantage.
But it's important not to get sucked in just because of the sweetner.
Make sure you know your new bank's terms and conditions - for example what it charges for its overdrafts if you're a heavy user.
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