Martin Lewis appeared on Good Morning Britain today to reveal his top three bank accounts.
The Money Saving Expert advised Britons to change to these accounts to get good deals before Christmas.
His three picks are HSBC, Natwest and First Direct.
How much free cash could you get to help you through the Christmas period?
Martin said: “It was a barren summer for bank switch bribes, but two new ones have launched this week, following a big one a couple of weeks ago.
“So if you want to be paid to switch bank, this is the moment.”
How can you switch bank accounts? Is it easy?
Martin said: “Switching takes just seven working days, the new bank closes your old account and moves all direct debits (you’ll usually need 2+ of these to qualify for the bonus), standing orders and payments.”
Martin added: “For the vast majority (76 per cent in my last Twitter poll) it’s a simple process.
“You also need to pass a not so harsh credit check.”
Martin Lewis best bank accounts
Free £200 with HSBC
Switch to the HSBC Advance account and you’ll get £200, which is £150 upfront plus another £50 if you stay with it a year.
To qualify you need pay in £1,750+/mth – effectively just a way of saying ensure you pay your salary in, as long as it’s a minimum £26,000/yr and register for online/mobile banking.
Free £125 NatWest + cashback on bills
Switch to most NatWest current accounts and you’ll get a free £125; among those is the NatWest Reward account where for £2/mth fee you get an ongoing 2 per cent cashback on your household bills you pay via direct debit from it, including council tax, water, gas and electricity, digital TV and broadband.
You must pay-in a min £1,500/mth (just a way of saying get your salary paid in here, around £21,500/yr).
Note, the £125 won’t come until Feb and you’ll need to keep your account until then to get it.
First Direct freebies and top service
First Direct has won every customer service polls I’ve done for the past eight years, 89 per cent rate it great, and currently if you switch to it you can choose a free gift from choice of gadgets (e.g. £170 Bose headphones or £120 Fitbit), online courses (e.g. yoga/beer brewing) or a £150 Expedia voucher.
You need to pay in £1,000+/mth (equivalent to £12,675+/yr salary) to avoid a £10/mth fee.
For a full rundown off the top accounts see ‘Martin’s Top Pick Bank Accounts’ guide, but in brief here’s my top three picks now.
Martin Lewis revealed whether it is cheaper to keep heating on all day.
With UK energy costs easily stacking up, cranking up the central heating can be something of a concern for bill payers.
Not only is it bad for the environment, upping your thermostat when you don’t need to is a huge waste of hard-earned cash.
