Santander, Lloyds, Nationwide, NatWest customers waking up to free handouts worth £705

Lloyds, NatWest, Nationwide and Santander customers are set to receive free cash before Christmas. Lloyds, NatWest, Nationwide and Santander all dishing out £150 to £200 to new customers as we head deeper into winter and towards December.

Lloyds Bank has a £200 current account switch deal, NatWest is paying out a free £180, and Nationwide Building Society has a £175 current account switch deal ongoing too. The list is completed by Santander's £150 current account switch deal.

On its website, Money Saving Expert says of the Lloyds offer: "As well as the upfront switch cash, with Club Lloyds you can choose one of the rewards above each year. Do note there's a £3/month fee unless you pay in £2,000+ a month. You also get access to a linked regular saver paying 6.25% fixed interest for a year on up to £400/month (maxed out, it's £161/year interest).

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"You can bag the free switch cash with some other accounts too, including the Club Lloyds Silver account, one of our top-pick packaged accounts which gives a range of insurance for £11.50/month." The only rub is you can't have had switch cash from Lloyds, Bank of Scotland or Halifax since April 2020.

On NatWest, MSE states: "The NatWest Reward account comes with a £2/month fee, but you get £5/month cashback when you pay in £1,250, pay out 2+ Direct Debits of £2+ and log into its mobile banking app each month. So the net gain is £3/month.

"You also get access to NatWest's Digital Regular Saver which allows you to save up to £150/month, and pays 6.17% variable interest on up to £5,000. If you deposited the maximum amount each month for a year, you'd have £59.93 in interest."

Nationwide is offering FREE £175, 5% interest on up to £1,500 plus 1% cashback for 12 months. Santander, meanwhile, has a free £150 up for grabs alongside one per cent bills cashback.