Martin Lewis says 'unbeatable' bank account will pay out £1,200 in free cash

Money Saving Expert Martin Lewis has urged millions of people in the UK to check if they can get £1,200 payment from a little-known bank account. According to Martin, the account is 'unbeatable'.

But if you want to open one, you'll have to fit the criteria. You'll need to be on Universal Credit or benefits, and have less than £6,000 saved.

Help to Save is a type of savings account available to low income workers claiming Universal Credit or Working Tax Credit. It is run by the Government and offers a bonus of 50p for every £1 you save - this means you're getting a 50% return on your money.

READ MORE:Zara employees explain why shoppers should look for circles and triangles on clothes tags

This account lasts four years and you can pay in a maximum of £50 a month. If you save in the maximum £50 each month for the four years you can have the account, you could end up with a bonus of £1,200, says the Mirror.

You can save less and still get a bonus, although it will be a lower amount - for example, save £25 a month over two years and you'd get £600 back. In a tweet published last night, Martin said: “Are you, or someone you know on Universal Credits or other benefits? Do look at Help To Save.

“You can put up to £50/mth in, then after 2yrs get a 50% bonus on the most you had in there (even if you've taken it all out). Unbeatable!”

You can apply for a Help to Save account through the Gov.uk website.

For those who don’t have access to the internet, you can still get an account by calling 0300 322 7093.

You could be eligible for a Help to Save account if you live in the UK and:

Receive Working Tax Credit

Are entitled to Working Tax Credit and receive Child Tax Credit

Claim Universal Credit and you (with your partner if it’s a