Christmas can be a really expensive time of the year but consumer champion Martin Lewis has shared ways in which people can get £175 in cash before the festive season. The TV presenter is famed for helping people save money as well as trying to get them extra cash, too.

In his latest MSE's weekly newsletter, he has shared how people can get £175 in cash in the run-up to the festive season, reports DerbyshireLive. The update, which landed in inboxes on Tuesday, September 19, spoke about the cash incentives banks offer to get new customers - and two banks are stumping up £175 in cash to those who make the switch.

These banks are First Direct and Lloyds Bank. The update says that anyone who switches to First Direct's 1st Account will also receive access to a 7% saver, fee-free overseas spending, and a £250 0% overdraft.

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"As ever, there are some rules as to who can and can't get the switching bonus," the newsletter says. "You can't have had any account with First Direct before, and this includes credit cards and mortgages. You also can't have opened a current account with sister bank HSBC since January 2020.

"To get the bonus open the account using the app, or online, switch from a different bank and pay in £1,000 or more within the first three months. Similarly, Lloyds Bank is offering people who move from a different bank to its Club Lloyds account £175 cash as well as an extra reward. You can choose between 12 months of Disney+, six cinema tickets, a Coffee Club & Gourmet Society membership, or a magazine subscription.

"It's important to note, though, there is a £3-per-month fee to use the account unless you pay in at least £2,000 each month. In order to be eligible you can't have had a switching bonus from Lloyds or Halifax since April 2020."

The newsletter adds that accounts can be opened online, by phone or in branch, and you need to switch an account from a different bank by November 14. To get more details on either of the offers you can read the MSE article in full here.

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