Martin Lewis says Santander and Nationwide customers being handed free payments up to £175

James Rodger
·2-min read
Sounds podcast host spoke out on his latest ITV show, which was a 'bill buster' special.
-Credit:Reach Publishing Services Limited


Martin Lewis says Santander and Nationwide customers are waking up to payments worth a free £175 as the Cost of Living crisis continues. The BBC Sounds podcast host spoke out on his latest ITV show, which was a 'bill buster' special.

Martin said: “First Direct gives new customers £175, 91 per cent great service, a 7 per cent regular saver for up to £300 a month in, it’s got a top card for spending overseas, it’s a debit card so you don’t pay any exchange rate difference, just the exchange rate on the day, and most get a £250 0 per cent overdraft.

“An all rounder, Nationwide also £175 for free, it gives you 5 per cent interest, on up to £1,500 easy access, 1 per cent cashback for 12 months, up to a maximum £5 a month on your debit card spending, and it’s got a 6.5 per cent regular saver although the maximum is lower than First Direct so the interest is actually quite a bit lower over the year.

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“And finally if you’ve got a bills account, good for a joint bills account this, Santander Edge account gives you a free £150. You pay it £3 a month and you get cashback on your bills, up to a maximum of £10 a month, cashback on bills paid via direct debit, plus get 1 per cent cashback on grocery or travel cashback up to £10 for a maximum of £20 a month, that easily covers the fee and more so people are mostly making money.

"You’ve got a 6 per cent easy access savings, and it’s also got an overseas debit card. So unless your bank account’s making you happy right now why not take a look at what’s out there, get paid to switch, possibly improve your service and get paid when you’re paying your bills.”

MSE explained: "Banks sometimes offer bonuses – free cash, boosted savings rates or other perks – to new customers who switch in an existing current account to a new current account with them. Essentially, banks want your custom and switch bribes are a double win for banks – you not only join them, but you leave one of their rivals."

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