Martin Lewis regularly tells Britons to be sensible when it comes to their bank accounts.
Instead of keeping all your money in the same pot you’ve had since you were a teenager, opening new accounts with better interest rates can mean you have more money in the long run – by doing very little.
And what’s more, many banks offer you cash to switch. As stated in the latest Money Saving Expert newsletter, banks are ‘prepared to bribe you (legally).’
Works for us.
And if you’re an existing Nationwide customer, you can earn $200 with a simple switch.
According to MSE, if you had a national current account, savings account or mortgage on March 31, 2024, you can get £200 by converting a non-national account to a new or existing FlexDirect, FlexPlus or FlexAccount.
The only caveat is that as of August 18, 2021, you cannot have already received a switching bonus from Nationwide and you must also transfer at least two active direct debits to it.
MSE also adds that you shouldn’t worry too much about switching banks affecting your credit score.
The newsletter states: ‘One additional search on your credit file shouldn’t make much of a difference (although a lot in a short time can.)
Nationwide bank accounts you can switch to for £200
- FlexDirect
- FlexPlus
- FlexAccount
‘Some lenders will give you a low score if you switch bank accounts because they want evidence of longevity, but for most this shouldn’t be a problem.’
It’s much more likely that your credit score is 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 are making thousands by switching, even opening ‘burner accounts’ for this purpose.
Visit the Money Saving Expert website to learn more about the pros and cons of switching banks.
The handy Walkers crisp hack from Martin Lewis
We’re used to getting financial tips from Martin, but he recently offered some advice for lovers of Walkers Worcestershire Sauce flavored crisps.
Fans of Walkers Worcester Sauce crisps were outraged when the spicy variant was axed in October 2023.
Walkers shared the bad news on X (formerly Twitter) when responding to a customer who asked what had happened to packages. The official account replied saying: ‘Sorry Worcester sauce has been discontinued.’
Many were devastated to hear this, but Martin told
Taking to social media, Martin shared a photo of a packet and wrote: ‘The best Worcestershire sauce chips I’ve had in recent memory. I don’t often see Seabrooks sold in my area (they are hard to sauce), so when I saw them I tried to see them. Very impressed (and apparently disconnected).”
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