TSB has launched a new prize draw to encourage more customers to get into the habit of saving.
The bank’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. People 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.
Commenting on the new incentive, 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.
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