Martin Lewis urges millions of bank customers to 'switch' for free £3,000

Martin Lewis' Money Saving Expert has explained how switching bank accounts could leave bank account holders and customers an eye-watering £3,000 better off. BBC Sounds podcast host Mr Lewis shared the advice in the latest MSE newsletter this week.

ITV regular Mr Lewis explained: Done carefully, you can switch multiple times. Some even open 'burner accounts' just for switching. Full help, pros and cons in Make £100s or £1,000s switching banks. Many people do it, including some here in MSE Towers.

"And to show you how well it can work (as part of a carefully controlled money-making system)." Simon emailed MSE to say: "Over 12 months my wife and I undertook 10 bank switches, managed our spending through stoozing, and made sure we used cashback sites for purchases.

READ MORE UK police deployed to Majorca with Balearic Islands braced for 'surge'

"Through these methods, we managed to amass £3,000 which we used to pay for a seven-day family holiday in Rome, which we loved. We managed this all through the help of MSE. Thank you MSE for paying for our holiday - we'd not have been able to go to Rome without your help."

The top bank account pick currently is the Santander offer of a free £175, plus 7% easy-access savings, 1% bills cashback and a top overseas debit card. As well as the free cash, switchers to the Edge account, which costs £3/mth, get two sets of cashback, on bills and groceries.

Open Santander Edge and you can access its linked one year 7% savings for up to £4,000, easily beating the top normal easy-access account. The Edge debit card also has no foreign exchange fee when you spend abroad, so you get the same near-perfect exchange rate as the bank does.

MSE says: "Once you're a customer, you can apply for its Edge credit card which pays an unbeatable year-long 2% cashback on almost all UK & overseas spending, up to a max £15/mth (again for a £3/mth fee). Of course, only do this if you'll pay off the card IN FULL each month to avoid the 29.8% rep APR interest."