MARTIN LEWIS, 48, has made a career out of keeping an eye out for the best deals on the financial market. His ability to save and make people money has been lauded by millions and tonight, he unveiled that certain banking deals are making a comeback.
Martin Lewis returned to evening TV tonight with “The Martin Lewis Money Show.” In an hour-long opening episode, the financial expert took questions from viewers and tweeters but he capped off the show with his well-known “news you can use” segment.
Within this segment, Martin exclaimed that: “Free one hundred pound bank switching bribes are back!”
He went on to explain that they all stopped as coronavirus began to emerge.
This forced the retail banks to pull the offers and focus on dealing with vulnerable customers.
Martin listed a number of well-known companies that already have the offers live: “Halifax has had one for a couple of weeks which has just ended.
“RBS and Lloyds have now launched and they’re each paying 100 pounds.
“RBS reward accounts also give you five pounds a month on top of that.
“But between those, I’m hearing rumours more are coming back to the market, possibly even by next week.
“If they do, I’ll give you more details you may want to wait because they could be even better.”
As it stands, the Club Lloyds account provides people with a £100 bonus if they open an account and switch to it by 11:59pm on November 9.
Additionally, this account can provide holders with:
- six cinema tickets at ODEON or Vue cinemas
- an annual digital Gourmet Society membership
- an annual magazine subscription
- 12 digital movie rentals
The RBS offer runs until November 19 but the company has warned that they may end it sooner.
Bruno Genovese, the Head of RBS’s Current Accounts, provided the following comments as their offer was launched: “We are welcoming new customers with our latest switcher offer so they too can benefit from our award-winning mobile app which now even lets you check your credit score.”
Switching bank accounts has become a key issue of focus in recent months as it has been continuingly pointed out that consumers may save money by doing so.
Rachel Springall, a Finance Expert at moneyfacts.co.uk, commented on this, noting the specific benefit for overdraft arrangements: “Personal finances could be a sensitive subject for those who have taken a payment holiday in recent months and are debating how they can save money in the months ahead.
“If they are unable to put some spare cash aside, they might be considering other ways to make some savings and they could do just this by switching.
“This year overdraft tariffs changed dramatically, gone are the extortionate daily fees and in is a fairer way of comparing deals, but it is vital borrowers check their new rate and switch if they use their overdraft frequently.
“If consumers have their main current account with a high-street brand, then they could find they are being charged some of the highest rates of interest on the market and switching to a challenger bank could save them over £49 a year.”