Martin Lewis urges people with £10,000 in bank accounts to 'move' money

Martin Lewis has said bank account holders could be on the brink of getting a free £100 payment in their accounts. BBC Sounds podcast presenter Mr Lewis, the Money Saving Expert newsletter author and consumer group champion, has told savers to act now for £100 bonus.

ITV star Mr Lewis used his latest newslette to explain a money-making hack for people who have certain saving pots. The newsletter suggested that if savers deposit £10,000 into one of Hargreaves Lansdown's active savings accounts, they will receive a £100 bonus on their cash pot.

The MSE newsletter detailed how Hargreaves Lansdown's savings marketplace allows you to save and transfer money through different banks via one online account. To secure the bonus, MSE advises people to open a new account with Hargreaves Lansdown, deposit £10,000 within the first 60 days, and then keep it there for six months.

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After this period, you will receive the £100 cashback. The offer is only valid until June 30, so there isn't much time left to claim the freebie. The interest rate offered on the account did "miss the top picks" currently, MSE went on to explain.

Butif you deposit exactly £10,000, the bonus effectively adds an extra one percent onto the interest rate over the course of the year. MSE highlighted: "While it misses the very top picks, if you put exactly £10,000 in, the bonus effectively adds one per cent over a year. As its current top easy-access savings is 4.72 per cent and one-year fix is over five percent, add one percentage point to those and they smash the best buys."

Chase Bank leads with an easy-access rate of 5.01 per cent, while Oxbury offers the highest fixed rate at 5.22 per cent for a six-month term, the newsletter goes on to explain this week.