Martin Lewis’ tip to bag £175 free cash in time for Christmas | Personal Finance | Finance
Money-saving guru Martin Lewis is presenting a golden opportunity to rake in an extra £175 just in time for the festive season’s expenses. The consumer champion has outlined that by simply switching to First Direct’s 1 Account from your existing bank, you could pocket the welcome cash bonus.
According to Mr Lewis’ newsletter on September 18, the process is straightforward: “Grab a FREE £175 in time for Christmas. All banks, bar one, have turned off their switching bribes. I hope some will return, but there’s no guarantee.”
Unfortunately, former HSBC UK clients since 2018 are ineligible, yet those with accounts at Nationwide, Santander, Barclays, NatWest, TSB, and Lloyds remain in luck, as per Martin’s latest bulletin via MSE. “Luckily, the one currently available is often a top pick, so it’s worth considering,” he added.
“First Direct FREE £175, top service, 0 per cent overdraft, 7 per cent linked saver. First Direct pays newbies who use its switching service £175, so do it now and you can get the cash by 20 Nov, plenty of time for it to go towards your Christmas coffers.”
He capped off by highlighting First Direct’s sterling reputation for customer service, reported as 90 per cent, along with perks such as a zero-interest overdraft, potential for savings account growth at seven per cent interest, and advantageous overseas spending with its debit card, reports Birmingham Live.
First Direct has laid out specific criteria on its website for new customers, stating: “Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. New customers only, who haven’t previously held a first direct product.”
The bank further clarifies: “Sorry, we also can’t offer this to people who have opened an HSBC current account on or after 1 January 2018. Offer can be withdrawn at any time. Subject to status. UK residents only.”
