Martin Lewis had some new advice for savers as he returned to the Martin Lewis Money Show LIVE on ITV tonight.
The personal finance wizard was back for the new series and quickly got stuck in, explaining how people can boost their bank accounts by getting money as a gift when they switch.
Explaining the "bank bribes" available now, the award-winning presenter says: "They were off in March, they’ve started to come back and finally we’ve got some competition in that marketplace.
"The top there for up-front cash comes from HSBC Advance account – £125 and you also get a linked savings account that pays 2.75%.
"You may be able to beat it over time though with RBS Reward account that gives you £100 of cash at the start, but then you pay in £2 a month and, as long you jump through few minor hoops, you get £5 a month.
"So after a year, provided it keeps paying that ongoing benefit, it would beat what you got from HSBC."
Martin Lewis
But you could potentially get even more bang for your buck if you go for the rewards option rather than straight-up cash.
Martin says: "Or you could go for the Reward version with club Lloyds which gives you £100 and a freebie – a choice of rewards like six cinema tickets or 12 digital movie rentals, which are worth around £50."
Although Martin claims switching accounts is an "easy way to get cash in your pocket", he says you do need to pass a credit check to be eligible.
The check is not too tough, but you also have to be able to pay in around £1,500 or £1,700 a month.
"That’s just a way of them saying ‘As long as your salary is more than that, you can have it,'" he says.
The new series of the Martin Lewis money Show is back on ITV at 8:30 pm on Thursdays for another 36 weeks.
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