Martin Lewis' MSE warns people with £10,000 in savings account to 'move it'

Martin Lewis' Money Saving Expert has urged savers to move £10,000 from their savings account before October - to get £100 free cashback. The BBC Sounds and ITV star shared the alert with savers on the MSE website this week.

MSE explained: "Newbies to Raisin who save £10,000+ for at least six months can get £100 cashback Here's how it works... Register with Raisin through this lin* and enter code OFFER100 in the promo code box (it's the very last field before you create your account) by 11.59am on 30 September.

"Open a new savings account and fund it with at least £10,000 by 11.59pm on 15 October. Qualifying accounts include easy-access accounts, notice accounts and fixed accounts with a length of six months or longer. Keep £10,000+ saved for at least six months.

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"For easy-access and notice accounts: the cashback is paid into your Raisin account within 14 days after the account has been active for six months. For fixed accounts: the cashback is paid into your Raisin account within 14 days.

Here are our top-pick accounts available on Raisin: Monument 4.91% easy-access account, Investec 5.02% 32 days' notice account, National Bank of Egypt's 5.06% six-month fixed account, Mizrahi-Tefahot Bank 5.16% one-year fixed account."

Raisin accounts are provided by ClearBank, which is regulated by the Financial Conduct Authority. When you add money to a Raisin account, before funding your chosen savings product, your funds will be covered by ClearBank's £85,000 Financial Services Compensation Scheme (FSCS) protection.

MSE said: "You'll be emailed before your fixed term ends asking what you want to do with the money. You can choose to get it paid back into your bank account or to open another product with the savings platform – remember, it won't necessarily offer the best rates at that point, so do check.

"Do nothing, and the money will go back to your Raisin UK account."