Santander, Barclays, Nationwide, and other bank customers could get £175 free

Martin Lewis, the Money Saving Expert founder, has shared a savvy tip for pocketing £175 of free cash in time for the festive period. If you switch your current account to First Direct's 1 Account, you could be in for some extra Christmas cheer, he says.

In his widely read weekly newsletter, released on September 18 (Wednesday), Mr Lewis broadcasted the financial tip: "Grab a FREE £175 in time for Christmas. All banks, bar one, have turned off their switching bribes. I hope some will return, but there's no guarantee."

Former HSBC UK customers since 2018 are not eligible for the giveaway, however, it is open to individuals with accounts at Nationwide, Santander, Barclays, NatWest, TSB, and Lloyds, according to further details Mr Lewis penned in his MSE update.

Mr Lewis said: "Luckily, the one currently available is often a top pick, so it's worth considering."

Adding more details, Mr Lewis explained: "First Direct FREE £175, top service, 0 per cent overdraft, 7 per cent linked saver. First Direct pays newbies who use its switching service £175, so do it now and you can get the cash by 20 Nov, plenty of time for it to go towards your Christmas coffers," reports Birmingham Live.

Beyond the enticing cash incentive, Mr Lewis emphasises First Direct's reputation for excellent customer service with a 90% rating alongside perks such as a linked 7% regular savings account with up to £300 monthly deposits, a potential £250 interest-free overdraft, and a debit card offering ideal rates for overseas transactions.

First Direct has set out specific criteria for new customers on its website, stating: "Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct