Go. Compare experts are urging individuals to carry out a crucial check for the chance to receive up to £175 in free cash. With the new year approaching, the price comparison experts suggests that checking your finances could land you some extra cash by simply switching banks.
Offers currently on the market include Nationwide’s £175 bonus, Santander’s £150 incentive, and First Direct’s £175 offer. Go.Compare’s money spokesperson, Matt Sanders, remarked: “Switching your bank could make you a bit of cash. Some banks and building societies offer an incentive to move your account to them and with the Current Account Switch Service, it’s easier than it has been before.”
Using the Current Account Switch Service means your direct debits and scheduled payments will be seamlessly transferred to your new account. However, it is vital to understand the particular terms attached to the switching offer you are looking at.
For instance, to obtain Santander’s £150, customers must open an eligible Santander account and pay in a minimum of £1,500. Another point to consider is acting promptly on these offers as they may expire soon, such as the recently concluded £200 switch deal from Lloyds.
Nationwide recently warned in response to a query about it £175 switching offer, that the incentive will only be available “for a limited time”.
Mr Sanders has also offered some savvy money-saving advice. He suggests using cashback sites to “make a little bit of money back” on purchases ranging from fashion and beauty to holidays and takeaways.
Additionally, he is encouraging people to check if they can cut their energy bills in 2025 by changing suppliers, especially as the energy price cap is set to rise from January 1, along with other household bills.
Go.Compare’s guidance notes that finding a cheaper tariff might prompt your current provider to match it. Another financial tip is to keep a close eye on your bank account to monitor incoming funds and outgoing expenses.
Liz Hunter, director at Money Expert, underscores the value of this practice, explaining: “It means you can stop problems in their tracks; whether that be fraudulent charges or simply being a little too close to your overdraft (and the fees that come along with it) than you’d like.
“So throughout 2025, make checking your accounts a priority. This might be a weekly sit-down session where you review what you’ve spent and what you’ve got left to spend – or, if it feels more achievable – a quick balance check once per day.”