Financial guru Martin Lewis has revealed a simple method for UK households to receive up to £400 at no cost, providing a timely financial boost ahead of the festive season.
Substantial rewards for switching banks
During the latest broadcast of The Martin Lewis Money Show on ITV, the founder of MoneySavingExpert.com focused on helping Brits prepare for Christmas expenses. The conversation quickly turned to the significant benefits available through current account switching.
Lewis directed viewers toward specific bank accounts currently offering substantial cash incentives for new customers who meet straightforward criteria.
Top bank account deals revealed
The Barclays Premier Current Account emerged as a standout offer, providing £400 to customers who pay £4,000 into their new account via the online banking app. Additionally, customers can enrol in the Barclays' Blue Rewards programme free of charge, which normally costs £5 monthly.
This complimentary subscription includes a free Apple TV+ membership (typically £9.99 per month) and access to a linked savings account paying 4.21% interest on balances up to £5,000.
Lewis also highlighted The Santander Edge account, which currently offers £200 to new customers. This deal requires a minimum pay-in of £2,000 monthly and enrolment in the bank's rewards scheme, which carries a £5 monthly fee.
Additional Barclays switching opportunity
For those seeking a smaller but still valuable incentive, Lewis mentioned the standard Barclays Bank Account, which provides £200 when customers sign up for the £5 monthly Blue Rewards scheme.
This option requires depositing £2,000 into the new account within 30 days of opening it, either as a single payment or through multiple transactions, according to the bank's website.
These switching bonuses represent a straightforward way for consumers to access extra money without complex financial manoeuvres, simply by moving their banking to a different provider.
