Money blog: Two banks paying new customers to join; what now for mortgages after election announcement?

Nationwide and TSB have both launched current account switch deals as banks fight to draw in new customers. Nationwide announced the deal after recording a £1.77bn profit for the year ending 4 April. For existing members who don't have a current account, the building society is offering a £200 switch sweetener. To qualify, you need to use the Current Account Switch Service and complete a full transfer.

Meanwhile, TSB is offering £100 to new customers switching to its Spend and Save or Spend and Save Plus current account. The accounts can be open in branch, online or via the app.To grab the deal, the switch needs to be complete through the CASS within 21 days of the request, a minimum of five payments need to be made using your card, and you have to log into the app at least once by 5 July. You can also nab £60 cashback if you make 20 debit card payments each calendar month.

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Source: SkyNews - 🏆 35. / 67 Read more »