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TSB boosts student account with up to £222 worth of savings
- TSB joins forces with AnyVan, Hussle, Sky and AA to boost its student account offering – saving customers up to £2221.
- TSB’s student account already offers interest free overdrafts and 5.00% (AER variable) on balances up to £500 with interest paid directly into account.
To help students kick-start their academic year in an affordable way, TSB has launched a package of discounts within its student account, worth up to £222.
Through partnerships with AnyVan, Hussle, Sky and AA, customers that open a TSB student account will be able to access discounts across gym membership, home entertainment, car insurance and home removals.
TSB customer data shows 40% of overall debit card spend2 for 18-24-year-olds is on entertainment and food and drink – and these student staples have been hit by rising prices.
Data from the Office for National Statistics shopping prices comparison tool shows that the cost of an annual private health club/gym membership has risen by 5% in the last twelve months to circa £427. Whilst the cost of car repairs in a local garage has risen by 8% to around £70 and the cost of a hot meal in a pub has increased by 10% to £11.38.
These rising costs mean students are facing higher living expenses than ever before. To help students’ money go further, TSB has introduced the following discounts:
- AA - 25% off breakdown cover plus access to smart benefits. Smart benefits offer members additional discounts on day trips, cinema visits and eating out. This offer saves £22 per year.
- AnyVan - £15 discount on moving from home to university. This offer saves £15 per year.
- Sky Stream - £5 per month discount on Sky Stream. Students can now access Sky Stream from £21 per month on either a 9-month or 18-month contract to align with most student courses. The offer also includes Netflix and saves students £60 per year.
- Hussle - 35% off Hussle gym network, including additional access to ‘best in class’ digital fitness programmes which normally cost £12.99 per month – saves students £125 per year.
The total potential annual saving could add up to £222 if all four offers are taken at market price.
TSB’s student account already offers interest free overdrafts and 5.00% (AER variable) on balances up to £500 with interest paid directly into account.
Carys Barnes, Head of Personal Current Accounts at TSB, said: “With the rising cost-of-living being felt across the country, and particularly by young people, it is more important than ever for students to consider and plan how they will manage their money. They should also make the most of all the deals available to them, including through their bank.”
- Ends -
Notes to editors
- 1 A saving of £222 applies to the 2023-2024 term.
- 2 Overall debit card spend of TSB account holders aged 18-24 over 12 months up to May’23.
- More information about TSB’s student account can be found here: Student Bank Account | Optional Student Overdraft | TSB Bank
- ONS data included has been cited from ‘Inflation and Price Indices’ report, May 2023. Exploring how the average price of individual items has changed in the last year - Office for National Statistics (ons.gov.uk)
The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.
