ITV finance fanatic Martin Lewis has revealed that you can get a free £200 cash boost by simply switching banks.
The MoneySavingExpert website founder has shared his advice just before the Christmas crunch kicks in - with residents up and down the UK worried about how they will be able to afford the inbound pricey season.
Banks commonly offer cash incentives and exclusive deals to customers who switch allegiance - with vouchers, cashback deals and exciting savings rates all among alluring deal breakers.
Read more: Martin Lewis issues urgent warning to people with UK savings bank accounts over interest rates
The Daily Star reports that in the latest MoneySavingExpert newsletter, Martin revealed that HSBC is offering a whopping £200 to switchers should they choose to hold money with them in an Advance Account...but there's a catch. To be eligible for the boost, you'll need to deposit at least £1,500 into your account within the first 60 days.
You'll also be required to set up a minimum of two direct debits or standing orders.
The offer is also unavailable to those who have had a First Direct of HSBC current account since January 1, 2019. But those who do qualify will receive their hefty bonus within 20 days of making the switch.
While there is no deadline for the deal itself, HSBC reserve the right to withdraw the promotion at any point. The bank will also hold a credit check against your name if you apply - reports The Sun.
Elsewhere, Nationwide Flex Direct are also offering new and existing account holders a free £200, plus 5 per cent fixed interest on up to £1,500. They are also offering a 0 per cent overdraft if you have not had an account within the last 12 months.
The offer is available to anyone, bar those who have switched to a current account with Nationwide since August 18, 2021.
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