MARTIN LEWIS, the Money Saving Expert, has explained how you could get £100 for free and with very little effort. Customers can do this by simply switching their bank accounts.
Martin Lewis, 48, will regularly share his tips and tricks to help Britons save money. In his MoneySavingExpert.com Money Tips email, he explained how to get £100 for free with Halifax.
During the coronavirus crisis, many banks have taken a step back on offering incentives.
However, Britons could still get some perks by signing up for an account with Halifax.
Martin said: “If you’re unhappy with your bank account, you can still move, even with the coronavirus crisis.
“And while only one bank’s currently offering a switching incentive, other accounts give cashback or interest.”
The expert highlighted the Halifax Reward Current Account and Ultimate Reward Account.
The accounts offer customers £100 which would be paid into their account if they switch to one of them.
Those who sign up for one of the bank accounts are required to pay in £1,500 a month to get the account for free.
Customers must also spend £500 a month on their debit card or keep the balance above £5,000.
Britons who pay in less than £1,500 will be charged a monthly fee of £3.
While this may be a great account for some, customers need to act fast if they want to take advantage of the offer.
The incentive deal is only available until September 14, 2020.
The offer is also only given to customers who meet a certain criteria.
Halifax stated that a person is not eligible if they have received an incentive for switching to a Halifax current account since April 2018.
Martin Turner, Head of Personal Current Accounts at Halifax said: “It’s never been a better time to open a new account with Halifax.
“Both our new Reward and Ultimate Reward accounts come with the opportunity to earn a fantastic lifestyle benefit and now new applicants will also receive £100 when they switch to us when using the industry switching service.
“The switching process takes just seven days and customers will receive their £100 before the switch is complete.”
As well as getting money to move accounts, customers will get access to more discounts.
For example, those who sign up get £5 per month and a three month digital magazine subscription.
Customers will also get two Rakuten online movie rentals a month and one Vue cinema ticket and a voucher for half price popcorn.
Read more on the Money Saving Expert’s latest Money Tips email.