Barclays, NatWest and Santander issue free £200 alert for simple lifestyle change
Three of the UK's high street banks have issued a free £200 alert that's been backed by money saving guru Martin Lewis.
Lewis, from the Money Saving Expert team, highlighted the free cash grab in his latest MSE newsletter to the thousands signed up see the latest way they can save a few quid. It's his latest advice after warning you how to stop your savings from going to your ex.
And no surprise given the topic here, the bank freebie all comes down to who you bank with - but crucially who you could bank with next.
"Boosted free £200 cash to switch to top customer service bank," Lewis writes. "The conveyor belt of top bank switching bribes continues."
Advert
The announcement comes as Nationwide has also confirmed a free £100 per customer scheme is getting the go ahead for 2026.
Free £200 for swapping banks - how to claim
Currently there are your high street banks giving you £200 or more by moving your accounts to them.
First up is the First Direct 1st Account, which will give you £200 in cash - this is an increase from its previous offer of £175. You'll also get an overseas debit card and a £250 zero percent overdraft.
To get this you have to open an account and within 45 days pay in at least £1,000 and have five debit card payments. You'll get your money by the 20th of the month after you set the account up, so not long to wait at all.
NatWest, Santander and Barclays offers also available
Like First Direct, Barclays will give you a straight £200, with their rule being you'll get it within 45 days.
You'll also need to set up two direct debits and this time, pay in £2,000 within 30 days. And for a £5 per month fee, you'll also get access to the Blue Rewards scheme with Apple TV at half the price as well as cashback on what you spend.
The deadline for Barclays is 28 May, so time is ticking is this one is for you.
NatWest offer a £200 package is you set up a NatWest Reward account; you'll get this within 30 days if you pay in £1,250 within the first 60.
It costs £2 per month to have the account but if you keep paying in the £1,250 every month, you'll get £5 cashback, so you're making money for doing nothing.
Then there's the Santander Edge offer, which is £180 in free cash and a £30 Amazon voucher. Technically it's more than £210, but the voucher is a tiny caveat (we all use Amazon, though, right?).
There's a monthly fee of £3 for this account but their own cashback scheme gives you a tenner off your monthly bills, so like with NatWest it's a net gain.
You'll have to pay in £1,500 to get your free money, as well as set up two direct debits, with the cash coming within 60 to 90 days.
Topics: Money, UK News, Hacks, Martin Lewis
Tom Earnshaw