Martin Lewis regularly tells Brits to be savvy when it comes to their bank accounts.
Rather than keeping all your money in the same bank you’ve had since you were a teenager, opening new accounts with better interest rates can mean you get more money in the long run – by doing very little.
What’s more, many banks offer you cold hard cash to switch. According to Money Saving Expert’s latest newsletter, banks are “willing to (legally) bribe you.
It works for us.
And if you’re an existing Nationwide customer, a simple switch could earn you £200.
According to MSE, if you had a Nationwide current account, savings account or mortgage on 31 March 2024, you can get £200 by transferring your account outside of Nationwide to a new or existing FlexDirect, FlexPlus or FlexAccount.
The only caveat is that from 18th August 2021 you can no longer receive a switching bonus from Nationwide and you must also switch at least two active direct debits to them.
MSE also adds that you don’t have to worry too much about changing banks affecting your credit score.
The newsletter reads: “One additional search on your credit file shouldn’t make a big difference (although many in a short time can.)
Nationwide bank accounts you can switch to for £200
- FlexDirect
- FlexPlus
- FlexAccount
“Some lenders give you points for switching bank accounts because they like evidence of longevity, but for most it shouldn’t be a problem.”
Your credit score is much more likely to be affected by factors such as late or missed payments, the amount of debt you owe, or the length of your credit history.
MSE also adds that some people make thousands by switching and even open “burners” for this sole purpose.
For more information on the pros and cons of switching banks, visit the Money Saving Expert website.
Clever Walkers Crunchy Hack by Martin Lewis
We’re used to getting financial tips from Martin, but he recently shared some advice for Walkers Worcestershire sauce flavored crisps lovers.
Fans of Walkers Worcester Sauce crisps were left outraged when the tangy variety was axed in October 2023.
Walkers shared the bad news on X (formerly Twitter) while responding to a customer who asked what happened to the packets. The official account responded by saying: ‘I’m sorry to say that Worcester Sauce has been discontinued.’
Many hadn’t heard – but when Martin approached X, he said he had found the “best” alternative to the iconic Walkers snack, and claimed he was “very impressed” with Seabrook’s Lea & Perrins crisps.
Sharing a picture of the packet on social media, Martin wrote: ‘Best Worcestershire sauce crisps I’ve had in a while. I don’t often see Seabrooks sold near me (they are heavy on the sauces) so when I spotted them I gave them a try. Very impressed (and apparently out of touch).’
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