Martin Lewis’ MSE bank switch that will pay £100 | European Markets

Finance consultants have alerted Brits to a new bank account change that can pay you £100 upfront. The offer additionally comes with £10 a month cashback for six months for qualifying clients.

In an replace, Cash Saving Professional (MSE) – the buyer web site established by Martin Lewis – highlighted a change deal presently on offer from TSB Financial institution. Nevertheless, it’s important to make the change earlier than March 14 to benefit from the free money.

MSE defined: “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.”

It listed the Spend & Save account from TSB as one offering a good change deal.

With this change you may earn £100 upfront, £10 a month cashback for six months, plus a alternative of an additional reward in September.

“To max the reward on the TSB Spend & Save you’ll need to use the debit card for spending each month,” MSE mentioned.

“Switch to it, log in to its mobile app and spend on its debit card five or more times by 14 March to qualify for the upfront £100, plus spend on its debit card 20 or more times in each of the first six months to qualify for the £10 a month cashback.”

For those who additionally make 20 or more debit card funds in August, you will earn an additional reward the next month.

This consists of a alternative of a one-night lodge keep for 2 (at chosen motels), six Odeon cinema tickets, or a six-month Now Leisure membership.

The account additionally offers entry to a common saver, offering six p.c curiosity on up to £250 a month, fixed for 12 months. This might equal £86 in curiosity over that time.

To get the £100 bonus:

• You may’t have had a change bonus from TSB since October 1, 2022
• Open the account online, in-app or in department
• Swap in an account from a completely different bank earlier than March 14
• Additionally earlier than March 14 , spend on the debit card 5 instances and log in to the cellular app

The £100 will then be paid between March 28 and April 11. On its web site, TSB provides that clients can have an overdraft value up to £2,000 with this account, subject to utility and approval.

Beforehand MSE has additionally listed change offers from First Direct, Nationwide, and Santander among the many best gives in the mean time.