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TSB review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

TSB suits anyone in the UK who wants a straightforward everyday bank account with no monthly charge, a joint account option and deposit protection on the balance. The Spend and Save account charges a monthly fee of £0, and support reaches you by phone and chat.

Key facts

Best for
A UK everyday account you can open without a standing monthly charge.
Monthly fee
£0↗
Deposit protection
FSCS up to GBP 85,000↗
Currency conversion fee
2.99%↗
Currencies
from 20↗
Local account details
UK-sort-code↗
Legal entity
TSB Bank plc↗
Headquarters
United Kingdom↗
Founded
1810 to 2013↗
Support channels
Chat, Phone, Help-centre↗
Audience
Students, Teens, Business
Pricing model
No monthly fee
Features
Joint account
Official website
tsb.co.uk

Money transfer

Delivery time
Euro express: same or next business day; other currencies to EEA: usually 2-3 business days, at latest 4; standard outside EEA/non-EEA currencies: up to 5 business days↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXtsbcareers.co.uk

Pros and cons

Pros

  • Monthly fee of £0 on the Spend and Save account, ranking 1 of 500 brands on this measure.
  • Deposits sit under FSCS up to GBP 85,000, at a bank regulated by the Financial Conduct Authority.
  • International payments cover from 20 currencies, and euro express payments arrive the same or next business day.
  • A joint account option is available on the Spend and Save account, and the monthly fee stays £0.

Cons

  • Debit card currency conversion costs 2.99%, which places TSB 259 of 312 brands on currency conversion fee.
  • Support runs on chat, phone and help centre only.
  • Local account details come as uk sort code, so it is built around UK payments.
TSB

Ready to try TSB?

Scored 9.4 / 10 by VaultCue.

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Who it suits

  • Anyone in the UK who wants a current account with no monthly charge.
  • Students, teens and small businesses that pay or receive in other currencies.
  • People who bank by phone or online and want the option of a joint account.

Who should look elsewhere

  • Plazo ES or Skrill, whose monthly fees of €0 and €0 are listed in other currencies, if you would rather hold an account outside sterling.
  • PayPal Colombia, whose monthly fee of $0 is worth weighing if your spending sits in US dollars rather than sterling.

Fees and FX

The Spend and Save account has a monthly fee of £0, so day to day banking carries no standing charge. Currency conversion on the debit card costs 2.99%, higher than the everyday account median 0.5%, and it places TSB 259 of 312 brands on this measure. Plan around that if you spend abroad often.

Deposit protection

Deposits in the Spend and Save account are covered by FSCS up to GBP 85,000. The bank behind the account is regulated in the UK by the Financial Conduct Authority, listed under reference 191240. That pairing of a licensed bank and a deposit guarantee is the main reason to hold everyday money here.

How TSB compares

Where TSB is available

Available
United Kingdom
Licence in United Kingdom
Financial Conduct Authority (191240), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does TSB charge each month?+

The Spend and Save account carries a monthly fee of £0, so there is no standing charge to budget for. TSB sits 1 of 500 brands on this measure. Budget instead for spending abroad, where the debit card conversion charge of 2.99% applies.

How much does TSB cost to convert currency?+

Conversion on the TSB debit card costs 2.99%. That is well above the everyday account median 0.5% and places TSB 259 of 312 brands on currency conversion fee, so a multi-currency service may cost less for frequent travel.

Is my money protected at TSB?+

Deposits in the Spend and Save account sit under FSCS up to GBP 85,000, so eligible balances are covered to the stated limit. The account is run by a bank regulated in the UK by the Financial Conduct Authority under reference 191240, which is a different arrangement from a payment wallet balance.

Can I open a joint account with TSB?+

Yes. The Spend and Save account supports a joint account option, so two people can share one account and its deposit protection. The monthly fee stays at £0, and local payments use uk sort code for everyday transfers.

How many currencies can I send with TSB?+

The international payment service covers from 20 currencies for business customers. Euro express payments arrive the same or next business day, while standard payments in currencies outside the EEA take the longest. TSB is based in the United Kingdom, with uk sort code for UK payments.

How do I get help from TSB?+

Help runs on chat, phone and help centre only, so phone, chat and the help centre are the listed ways to reach the bank. That suits anyone comfortable managing the account by phone or online, with a monthly fee of £0 to set against it.

Who is the TSB account for?+

TSB lists students, teens and businesses among the groups it serves, and the Spend and Save account carries a monthly fee of £0 with FSCS up to GBP 85,000 on deposits. It is a UK bank account with uk sort code for local payments, so it fits domestic everyday banking.

Sources

  • en.wikipedia.org/wiki/TSB_Bank_(United_Kingdom) checked September 26, 2026

    Backs: Founded, Headquarters, Local account details

    “Founded 1810; 216 years ago (1810) as the Trustee Savings Bank 2013; 13 years ago (2013) re-established as TSB Bank”

  • tsb.co.uk/business/payment-services/international-payment... checked September 26, 2026

    Backs: Currencies, Delivery time

    “This service allows you to make payments in over 20 currencies to recipients in the UK and abroad - straight from your sterling business account.”

  • tsb.co.uk/current-accounts.html checked September 26, 2026

    Backs: Audience

    “Whether you're opening your first ever bank account, getting set for college or university, or just looking for an everyday bank account, we have something for you ... Student ... Under 19s”

  • tsb.co.uk/current-accounts/faqs/debit-card.html checked September 26, 2026

    Backs: Currency conversion fee

    “Debit card - Non-Pound Transaction Fee - 2.99% of the payment amount in pounds ... Fees do not apply to Spend & Save Plus, Premier, Platinum or Gold cards”

  • tsb.co.uk/current-accounts/spend-and-save-account.html checked September 26, 2026

    Backs: Deposit protection, Features, Legal entity, Pricing model, Monthly fee, Licences

    “Make it a joint account - If each person has their own TSB current or savings account, you can open a joint account in the app.”

  • tsb.co.uk/help-and-support/mobile-banking.html checked September 26, 2026

    Backs: Support channels

    “Chat to us - Get answers to common queries 24/7 or chat to our team 8am - 5.30pm Monday to Friday if you need to. Or bank with us using Internet Banking, Telephone Banking, or pop into a branch.”

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type.

TSB

TSB

A UK everyday account you can open without a standing monthly charge.

9.4/10See alternatives