TSB has launched a new prize draw to help customers get into the habit of saving.
TSB’s customers will automatically be enrolled for the draw if they have a Savings Pot alongside their Spend & Save, or Spend & Save Plus current account, with the words ‘My dream’ included in its name. It must also have a balance of £10 or more.
Savings Pots are a standard feature of both accounts and customers can name them individually to reflect their personal savings goals. Customers who already have named Savings Pots can easily rename them to include the words ‘My dream’ using the TSB mobile app or Internet Banking.
Each month TSB will award five prizes of £1,000 and fifty prizes of £100 to randomly selected customers who meet these requirements. Prizes will be paid directly into customers’ Savings Pots, giving them a useful boost towards their savings goals.
The draw is open to both existing customers and any new customers opening an account.
Peter Hatton, TSB Head of Savings, said: “Our Spend & Save current accounts are proving popular with customers as they use their Savings Pots towards goals such as a holiday, new car, or home renovations. We’re pleased to offer a prize draw that will give customers another great incentive to save.”
Both Spend & Save and Spend & Save Plus accounts have additional features to help customers manage their money with the help of their Savings Pot. ‘Save the Pennies’ (an automatic spending round-up) pays into their Savings Pot while ‘Auto Balancer’ moves money from Savings Pots so customers avoid going into the red. As well as re-naming them, customers can also personalise their Savings Pots by adding an image and setting a monetary goal, to help them keep track of their savings progress.
Notes to editors
- To opt in to the prize draw, TSB customers with a Spend & Save or Spend & Save Plus account must name a new or existing Savings Pot to include the phrase 'my dream', and ensure their Pot is funded with at least £10 by 7pm on the last working day of the month. They will then be automatically enrolled into the subsequent month's draw, so long as they continue to meet those criteria.
- Each customer that meets those requirements will get one entry to the draw for that month.
- The Prize Draw will run from 1st November to 31st May 2022. There will be six draws, with the first prizes awarded in December.
- More details about the Prize Draw can be found here.
- Each Spend & Save, and Spend & Save Plus, current account automatically has a Savings Pot ready to use as part of the account.
- There are more details about Spend & Save, and Spend & Save Plus, here.
TSB is a retail bank with a trusted customer brand and heritage stretching back to the start of the savings bank movement 200 years ago. We offer full retail banking to more than five million customers who are served through digital channels, over the phone and in branches. We commit to creating social and environmental value through our Do What Matters Plan.