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Martin Lewis gives seven day deadline to claim free £200

Martin Lewis gives seven day deadline to claim free £200

Take advantage of the free money, Martin says

Free money does actually exist, just follow the latest advice from Martin Lewis.

The Money Saving Expert (MSE) founder is back again with stellar advice, this time in the form of his weekly newsletter.

Lewis and his MSE team spend their days making money work better for the ordinary person, with the ultimate aim of trying to keep more cash in our back pockets and current accounts.

Just this week, Lewis issued an urgent money warning to anyone who is married or in a civil partnership, while his team were eager to stress one big issue if you need to get your hands on a new passport.

Announcing his latest advice on how to get genuine free money Lewis wrote: "What a difference a week makes."

He's talking about switching bank accounts, with massive cash offers on offer to you to up and leave your current bank.

He said: "We told you last week that four banks now offered free cash switching deals, a big turnaround from none a few weeks earlier. Yet no apologies for doing it again, as it's all change, and this is likely the week you've the maximum choice of where to go.

Martin Lewis.
ITV / This Morning

"Switching's usually quick and easy. You need to go via the bank's seven-working-day switch service, which closes your old account and auto-moves your balance, standing orders and Direct Debits.

"Once done, any payments to your old account are auto-forwarded. You'll need to pass a not-too-harsh credit check."

Which bank is it?

Lewis has warned there's just seven days left to claim the best offer up for grabs, which is from NatWest / RBS.

The bank will give you £200 in cold hard cash if you switch to them. On top of that, you can also land £36 a year in cashback and 6.17% on regular savings.

Switching banks is easy.
Getty Stock Images

But to get the money, you'll have to make sure you switch to either RBS or NatWest by Tuesday, 2 April.

The bank account comes with a £2 a month fee. But you immediately make money on it, Lewis says, with £5 a month in cashback given to you if you use the app every month and have two £2-plus Direct Debits leaving the account every month.

Lewis adds: "You can also put £150 a month into a linked one-year 6.17% variable regular saver; max that out for £61 interest."

It's free money.
Getty Stock Images

How to get the £200

Switch to the bank account and make sure you have £1,250 to transfer over to them. With payday just around the corner, the timing couldn't be more perfect in this regard.

The money has to stay in the account for at least 24 hours and you've got to use the app within 60 days.

"You need to switch to it from a non-NatWest Group bank, and have not had switchers' cash from it since Jan 2020," Lewis says.

Featured Image Credit: ITV / Getty Stock Images

Topics: Martin Lewis, Money, UK News