Martin Lewis says Nationwide, NatWest, Lloyds handing out free payments worth up to £730

James Rodger
·2-min read
Martin Lewis says Nationwide, NatWest, Lloyds handing out free payments worth up to £730
-Credit: (Image: Reach Publishing Services Limited)


Martin Lewis' Money Saving Expert has explained how Nationwide, NatWest, First Direct and Lloyds customers are waking up to free payments. The BBC and ITV star says Nationwide is paying out free £175 for Christmas, while NatWest and Lloyds are handing out free £180 and £200 sums.

Firstdirect is paying a free £175. "Today FIVE banks'll speedily pay you £150+ to switch, so boost your festive coffers or have some fun...," Mr Lewis explained. He added: "Christmas fun is looming, as is the financial pain that goes with it for some. To help - with fortuitous timing, after a sparse patch - right now five top current accounts are trying to tempt you by paying free money for switching (though we don't know how long they'll be on for).

"Four will pay out before Christmas if you sort the switch now." It added: " In Martin's last poll on it, 84% of those who'd tried said it was easy & hassle-free. You must pass a not-too-harsh credit check and use the bank's seven-working-day switch service, which will move your balance, standing orders and Direct Debits for you, close your old account, and auto-forward any payments made to it from then on.."

READ MORE: State pensioners who have income under £50,270 urged to claim HMRC 'perk'

READ MORE: Nationwide bringing in £60 charge for customers to access bank accounts

READ MORE Eight popular beers will be axed from UK pubs

On his ITV show last week, consumer champion Martin said: "Loyalty can pay in many things; in relationships, in love and all of that, but when it comes to financial services products you need to make them pay for your loyalty and if you’ve been with them 42 years I doubt they are.

“If you love your bank and it gives you great customer service and great facilities and it will massage your shoulders whenever you’re feeling a bit tired then stick with it. I wouldn’t tell you to leave. If not, then so many banks are willing to pay you that it is a good idea to do. And I’d absolutely look at it. It is so easy.

“I always do this this time of year because it’s a good way to make free cash and get it in time for Christmas. These are newbies free cash switch bonuses all of which unless I said are fee-free bank accounts. There are five banks willing to pay newbies to switch to them, all of which are giving at least £150 worth of cash.”

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