A Martin Lewis fan says she was able to get her hands on £1,335 in free cash.
She got the money after using a trick the financial guru shared on his Money Saving Expert site. This involves switching bank accounts.
How it works is banks offer a cash incentive for people to move their custom to them rather than sticking with their current providers. Savers will need to meet certain criteria to claim the cash.
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For example, NatWest and RBS are offering a free £200 switching bonus for their Reward accounts, but you'll need to pay in £1,250+ and use the app within 60 days. You also can't have had switch cash from NatWest, RBS or Ulster since October 2017, and you'll have to switch in an account from a different bank.
Other banks are also running similar offers, according to MSE. Anyone who switches to First Direct's 1st Account will get £175 for free, as well as a 7% saver and a £250 0% overdraft, reports Liverpool Echo.
You can't have ever had any accounts with First Direct, though, and you also can't have opened a current account with HSBC since January 2020. To be eligible for the rewards, you need to switch from a different account, pay in £1,000 or more within three months.
Martin Lewis shared a message he received from a fan who used the trick a number of times, and managed to bag herself a whopping sum of cash. He said an email from Debbie reads: "Since last week, I have received another bank switch cashback, and my latest total is £1,335."
For the bank switching information in full, as well as which banks are offering incentives, read the MSE article here.
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