MARTIN Lewis has issued a two-month warning to anyone with a bank account as they face losing £200.
A money-saving expert said there are simple changes Britons could make now before Christmas to reap some big benefits.
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Martin Lewis offered top tips on how to get cash before ChristmasCredit: Rex
Martin said banks across the UK were offering different deals where you could end up with cash in hand and extra bonuses.
He said: “Before you start planning, think about this: Many people list all the things they want, gifts for everyone and a stuffed meal, and only then think, ‘How am I going to pay for it?’
“That’s a recipe for bankruptcy. Instead, work out your budget and ask yourself, ‘What can I afford to spend?’ Christmas is one day – don’t ruin the whole next year because of it.”
Nationwide FlexDirect is now offering £200 free – plus regular savings of 8% and a 1-year overdraft of 0%.
And first-timers who switch to the scheme get access to a savings account, paying 8% interest on up to £200 a month and 0% annual overdraft on up to £1,500 (subject to credit check).
There is also the option that if you pay in £1,000+ a month, the current account pays 5% interest on up to £1,500 for a year.
There are similar deals with other banks as well.
The First Direct 1st Account offers a free £175, regular savings of 7%, free overseas spending and a £250 0% overdraft.
And Lloyds’ Club Lloyds account offers a free £175, plus a choice of reward between 12 months of Disney+ or six cinema tickets.
They will also offer membership to the Coffee Club & Gourmet Society or a magazine subscription.
And, Martin said your money is safe – the Financial Services Compensation Scheme guarantees up to £85,000 per person.
It comes after the Money Saving Expert offered tips on how to save money amid Netflix price hikes.
The streaming giant has announced that it will now charge Brits more to watch their favorite shows.
The jump in costs will see those on the basic plan start paying £7.99 a month and those on the premium plan jump to £17.99 a month.
Britons on a basic plan will now pay an extra £12 a year, and those on a premium plan £24 a year more.
But there are ways to cut costs, Martin found.
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Source: HIS Education