Money saving expert Martin Lewis is urging people to act now to get free cash before Christmas.
Speaking on a special Christmas special on ITV's Martin Lewis Money Show Live, the financial guru urged his viewers to switch bank accounts as a number are offering free cash for switching.
One fan in the audience admitted she had been with the same bank since she was a child and as Martin shared that Nationwide is offering £200 to new customers, it was a no brainer.
READ NEXT - Parents labeled 'selfish' for having dinner with their crying baby
With this, the show ran a clip of a viewer who has switched banks multiple times last year and bagged in total around £500, which has paid for special treats, including a new tattoo. Meanwhile, a man in the audience shared that he has switched multiple times now and has rounded up "around £700" just from switching banks.
With this, Martin also pointed out that if you have switched, and not been a customer of a bank for over 18 months, then you are considered a new customer - and so can switch again.
One bank he has previously mentioned is Nationwide's flexdirect, which provides new customers with £200 for free as long as they are eligible. This was the top bank for upfront cash when switching but you do need to pay a minimum of £1000 a month into it.
First Direct also has an account that offers £175 free as long as you put £1,000 into the account once. Meanwhile, RBS and Natwest both offer accounts with £175 free when switching, plus ongoing rewards.
However this comes with a warning. The money saving expert warned that if you are switching banks too often, it could affect credit ratings. He said if you are planning on taking out a mortgage or have a credit card, it's worth remembering that credit ratings can take into consideration how long you are with your bank account.
READ NEXT -
Christmas payment dates for DWP Universal Credit, Child Benefit and more
Edinburgh Christmas Market 2022: Do you need a ticket and how much it costs
Six common household appliances that are costing the most on your energy bill
Edinburgh Christmas Market ice rink: Opening times and how to get tickets
Martin Lewis issues Black Friday warning as he urges shoppers to think before buying
