Martin Lewis' MSE issues £175 Santander, Lloyds and TSB message and says 'make some cash'

Richard Guttridge

7 June 2024 at 5:45 am·1-min read

Martin Lewis' Money Saving Expert team has urged people to check out a number of bank switching offers currently available which could pocket them free cash. The money experts said the deals, designed to snatch customers from rivals, are often worth considering as they are an easy way to make some extra money and are usually hassle-free.

They said this was the particularly the case if people had no real reason for sticking with their existing bank. The website founded by the TV presenter highlighted deals currently available from Santander, Lloyds, TSB and First Direct.

The Santander Edge, First Direct 1st Account, Club Lloyds accounts all pay £175 to new customers who follow the required steps. The TSB Spend & Save pays £100.

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It's always important to check the details of any account-switching offer and if it's right for you but Mr Lewis believes they are worth checking out and regularly highlights examples. The MSE team identified the latest offers in an update to readers.

They said: "The bank-switching market blows hot and cold. Six weeks ago there were none, now it's back with aplomb, with four banks willing to (legally) bribe you to switch. So unless your current bank tickles your toes and keeps you happy, consider switching to make some cash.

"Switching's usually quick & easy. The bank's seven-working-day switch service will close your old account and auto-move your balance, standing orders & Direct Debits for you. After, any payments to your old account are auto-forwarded. You'll need to pass a not-too-harsh credit check."

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