Everybody loves a freebie and money guru Marin Lewis has shared a hack for bank customers which could net them all £125.
Writing in his weekly MoneySavingExpert email Martin shared information about bank account switch rewards.
Banks are offering cash incentives when you switch your current account this month, Mr Lewis wrote on MSE this week.
The financial guru and consumer champion, who has his own ITV show The Martin Lewis Money Show, revealed HSBC is your best bet.
According to Mr Lewis, he says the high street bank recently launched a new £125 cash perk – available to all new customers in the UK.
« January is usually the month where banks pump out (legal) free cash bribes to get you to switch, » he wrote.
« Yet this year the cupboard was bare, as the only major switching freebie was Virgin Money’s wine. »
The financial guru – who also appears on ITV1 daytime TV shows – says: « Finally, in the 2nd week of February, there’s a deal where you’re paid to switch.
« To get any of the freebies, you need to use the banks’ official switching services. »
Mr Lewis continued, saying: « The switch takes 7 working days, all direct debits and standing orders will be moved for you, your old account will be closed and any payments to it auto-forwarded.
« You also need to pass a credit check, but it’s usually not too harsh. »
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