TSB has today launched its biggest-ever prize draw to reward and thank existing customers to mark 10 years since it returned to the high street as a standalone bank.

All eligible TSB customers will be automatically entered into the draw and have a chance to win one of 10 £10,000 cash prizes.

To be included, customers must be over 18, live in the UK and have an open TSB product – which includes a personal or business current or savings account, mortgage or lending product - on September 9.

Mark Curran, TSB’s customer banking director, said: “TSB has a long and proud history of helping customers to manage their money better and that’s something we remain committed to today.

“We’re delighted to give TSB customers the chance to win £10,000, to celebrate this important milestone in our history.”

Winners will be chosen at random on October 18 and contacted by October 20 - business customers are also included. In the event that a business account wins, TSB says the prize money will be paid to the business that holds the account. 

However, the bank warned: “Fraudsters pretend to be banks, so if anyone contacts you about the prize draw it’s important to remember that we would never ask you to share your bank or security details.

“We’ll also never talk to you on social media through unofficial TSB accounts. Look at our Fraud Prevention Centre on our website for guidance on how to stay safe.”

Winners will have until Friday, December 8 to tell TSB if they want to accept the prize money and how they’d like to be paid. TSB will then make the payment or send the cheque within 30 calendar days.

There are several factors that may exclude a person from the draw and these include:

• If the account is held on behalf of somebody under the age of 18;
• If records show an account holder resides outside of the UK or that they have a non-UK tax residence;
• There haven't been any transactions on the account in the 15 years preceding the draw date;
• A person or their business (including any employees) have been involved in the prize draw in any way or are closely related to anyone who is;

• If a person only holds an account for the purpose of helping TSB test certain features, or they’ve only used the website to work with one of its partners, such as putting a life insurance policy in place;
• If at any point between September 9, 2023, and October 18, 2023 (inclusive), the account is in its closure period or due to be closed;
• If at any point between September 9, 2023, and the date any prize funds are payable (inclusive), the account is (or becomes) subject to any legal restrictions or fraud/financial crime concerns.

TSB noted: “We have the sole decision on whether all the eligibility requirements have been met or any exclusions.”