Wednesday, January 25, 2023

Martin Lewis Show – Money saving expert reveals how you can make £200 by switching banks

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MARTIN Lewis has revealed how you can make £200 in cash just by switching banks.

During an episode of The Martin Lewis Money Show Live on ITV, the consumer champion said most people were unaware of the payout.

The money-saving expert said a free bank draft worth £200 was available at Santander.

He also noted that the Edge account with the bank is a highlight as it only costs £3 a month.

There is 1% cashback on most bills, as well as 1% cashback on groceries, fuel and travel.

And Martin estimated that on typical bills it would be £70 to £100 cashback after the fee.

The financial expert said that the normal January price war for bank bills did not take place this year.

But he said there are a few decent counter officers and more may be due in February.

During the show, the Money Saving Expert also advised “most people” to quit and switch, as ISA fixed rates have skyrocketed lately.

Martin told viewers that unlike regular fixes, cash ISAs don’t allow you to get locked up.

However, you can charge interest penalties if you withdraw early.

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