Account opening criteria
High Interest, Package, Reward & Standard current accounts
- You must be 18 years of age or older
- You must not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last six years or be in the process of doing so (Does not apply to M&S Bank)
- You are a UK resident
- You’re aged 18 years or over
- You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years
- You don’t already have a student account with another Banking institution
- You must be aged between 11 and 18 years old
- You must be living permanently in the UK
- You must be aged 18 or over to apply
- You must have a residential address in the UK
Before applying, please always check each banks specific opening criteria on their website.
This is based on a scoring system we developed using data from MoneySavingExpert’s twice-yearly Current Account customer service polls.
An easy switching process
We guarantee a smooth switch.
All you need to do is:
A smooth switch for you
The Current Account Switch Service makes switching your current account simple, reliable and stress-free. Over 4 million current accounts have been switched so far.
The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments.
So you don't need to worry.
Start using your new account
On your agreed switch date your new account will be ready to use and your old account will be closed. Your new bank will have transferred all of your regular incoming payments (such as your salary or benefits) and outgoing payments (such as Direct Debits, standing orders, future dated payments and bill payments) to your new account, along with any remaining credit balance. Your saved Payee details will also be transferred over.
Note: future dated payments set up within 7 working days of your switch date cannot be transferred across to your new account.
Need to knows
- 1. Check you're able to switch
The Current Account Switch Service covers 99% of UK current accounts. The process is the same everywhere so you can feel confident when you switch, no matter which participating bank or building society you choose.
- HOWEVER YOU CAN'T SWITCH WITH:
- A joint account without the permission of both parties
- Saving accounts
- Non-sterling payment accounts.
- 2. Check you're eligible
Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status).
Just in case if anything has gone wrong
In the unlikely event that anything goes wrong, your new bank or building society guarantees to refund any interest and charges you incur as a result of a delayed or incorrect switch. It's all part of the Current Account Switch Guarantee.
AER interest on in-credit balances between and up to
What types of current account does TSB offer?
TSB offer a wide range of current accounts, including:
- Classic account, their standard current account.
- Classic plus account, similar to their classic account, but you can earn interest on a positive balance.
- Silver account, a classic account upgraded with insurance products and card protection.
- Platinum account, a further upgrade from silver with more insurance products and a bigger interest free overdraft added on.
- Cash account, a straightforward account that lets you manage and control your money without any frills.
- Student account, designed for people in further education and offering a tiered interest-free overdraft among other benefits for students.
- Graduate account, an account that helps university graduates find their feet while reducing the interest free overdraft.
- Under 19s account, to give youngsters a taste of the banking world.
What features do TSB current accounts have?
While the exact features you’ll have access to depend on the type of account you open, TSB generally offer the following:
Planned overdraft. TSB’s current accounts generally offer some level of interest free overdrafts, but the amount and interest rates you get depend on the type of account you open.
Overdraft buffer. An overdraft buffer means you won’t be charged interest for going into your unplanned overdraft, up to a certain amount.
Grace period. This is the period of time you have to pay money into your account to get out of your unplanned overdraft without paying a fee.
Save the Pennies. When you use your TSB Visa debit card, the amount you spend is rounded up to the nearest pound and the difference is transferred from your current account into a TSB savings account.
Rewards. With a silver or platinum account you’ll have access to:
- Mobile phone insurance
- Travel insurance
- Breakdown cover
- Sentinel card protection
TSB Bank is authorised and regulated by the Prudential Regulation Authority, and is also regulated by the Financial Conduct Authority.
Why you should compare current accounts
For most people current accounts are where you manage your day-to-day finances, so it’s important to pick an account that works well for you. Comparing current accounts on MoneySuperMarket is a good way to shop around between different providers, so you can see exactly what each one offers – whether it’s their overdraft facility, interest rates paid on a positive balance, or the extra benefits they provide, you can search to find one that suits your requirements.
Thanks to the Current Account Switch Service, once you’ve picked your account the process will take a maximum of seven working days to be completed. All your incoming and outgoing payments are automatically transferred to your new account, and your new provider should take care of everything – from redirecting any accidental transactions from your old account to paying any penalty charges.
At the moment we are unable to show you any current accounts from TSB. Please return to our current accounts page to see our wide selection of account providers, or see more current accounts below.