Martin Lewis MSE 'genius' advice to get an extra £175 in time for Christmas

Many high street banks are offering incentives, alongside great savings rates and other perks and there is something to suit every lifestyle and earn back a little money

Christmas shopping can dent the bank - and for those who haven't planned financially, it can be a stressful time of year. But it doesn't necessarily need to be, as Martin Lewis gives some crucial advice on ways to generate quick cash. The nation’s favourite money-saving expert has said switching to a new bank account could earn you a tidy £175.

The trick, he said, is knowing where to look. Many high street banks are offering incentives, alongside great savings rates and other perks. Whether you're looking for a straightforward cash bonus, higher interest on savings, or even cashback on everyday spending, there’s something to suit nearly every budget and lifestyle. To help you make the most of these offers, Martin Lewis and his Money Saving Expert team have rounded up the best deals available right now. If you are ready to make your money work harder this winter then keep reading.

NatWest Reward Account

Minimum pay-in: £1,250/month (equivalent to £16,000 annual salary)
Service Rating: 58% ‘Great’ | 14% ‘Poor’
Payout Deadline: 6th December

NatWest's offering stands out with a £180 upfront bonus, plus £36 annual cashback and a solid 6.17% interest on its linked regular saver. You can earn £5 each month, while a £2 fee brings you a £3 net cashback every month. That's £216 in your pocket after the first year—just for using it as your main account.

To qualify for the bonus and cashback, you’ll need to pay in at least £1,250 monthly, set up two direct debits of £2 or more, and log into mobile banking each month. Plus, you can stash up to £150/month in the 6.17% regular saver, building your savings with minimal effort.

Club Lloyds

Minimum pay-in: £2,000/month (equivalent to £28,500 annual salary)
Service Rating: 54% ‘Great’ | 16% ‘Poor’
Payout Deadline: 4th December

Club Lloyds is ideal if you're looking for a premium upfront offer. You'll score £200 straight away, but to unlock this, you’ll need to meet the hefty £2,000 monthly pay-in requirement. In addition to the cash, you can choose perks like 12 months of Disney+ or six cinema tickets. The linked 6.25% regular saver allows you to save £400/month for a year, earning up to £150 in interest.

For the cash, you’ll need to switch accounts with at least three direct debits. While the £28,500 salary requirement might not suit everyone, it’s one of the highest cash bonuses available right now.

First Direct 1st Account

Minimum pay-in: None, but you need to deposit £1,000 within 45 days
Service Rating: 90% ‘Great’ | 3% ‘Poor’
Payout Deadline: 20th December

If customer service is a priority, First Direct is hard to beat, with an impressive £175 bonus and a 7% interest rate on its linked regular saver. The account also offers a 0% overdraft and no foreign transaction fees. You can pay in a total of £1,000 over 45 days, make 5+ debit card payments, and complete the switch to qualify for the bonus.

Nationwide FlexDirect

Minimum pay-in: £1,000 within 31 days
Service Rating: 87% ‘Great’ | 4% ‘Poor’
Payout Deadline: 8th December

Nationwide’s FlexDirect account offers £175 upfront, plus 6.5% interest on its regular saver. You can earn up to £85 in interest by depositing £200/month into the linked account. The 1% debit card cashback for the first year is also a nice touch, though not as generous as some other deals.

Santander Edge

Minimum pay-in: £500/month (equivalent to £6,000 annual salary)
Service Rating: 60% ‘Great’ | 12% ‘Poor’
Payout Deadline: 19th February

Santander Edge gives you £150 upfront, plus cashback on bills and groceries. For £3/month, you'll earn 1% cashback on your bills, including council tax, energy, and broadband, plus 1% on grocery and travel purchases. The account also offers a 6% interest rate on savings for the first 12 months, with a maximum of £240 in interest if you top up the savings pot.

To claim your cash, you’ll need to switch accounts, deposit £1,500, and set up two direct debits.

By making a small switch between bank accounts you could see an extra £176 in your accounts for Christmas. Just make sure you meet the requirements and have enough cash coming in your your new account enough direct debits switched over to qualify for the benefits.