New customers switching to TSB's classic plus bank account via MoneySavingExpert or MoneySuperMarket can receive .
TSB is also offering new customers up to £120 cashback in the first year with 3% AER credit interest.
Customers must apply by the 26th June and complete the switch to TSB using the Current Account Switch Service before 14th July.
Switchers will also need to make sure at least £500 is paid into the new account within 28 days of the switch and that all active credits and debits, including at least two active direct debits are transferred.
“By teaming up with MoneySavingExpert and MoneySuperMarket to provide switchers up to £250 in their first year, our most popular bank account gets even better,” said Craig Bundell, director of personal current accounts at TSB.
“When you also consider that we are Britain's most recommended high street bank, there really is no other bank account on the market that gives you more with no monthly fee.”
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