{"id":121716,"date":"2026-06-14T09:30:00","date_gmt":"2026-06-14T08:30:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=121716"},"modified":"2026-06-14T09:23:07","modified_gmt":"2026-06-14T08:23:07","slug":"the-bank-account-move-martin-lewis","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/the-bank-account-move-martin-lewis\/","title":{"rendered":"The Bank Account Move Martin Lewis Calls the \u2018Textbook Way\u2019 to Make Extra Money"},"content":{"rendered":"\n

Current account switching incentives remain available across several major UK banks, with payments <\/strong>ranging from \u00a3175 to \u00a3500. Martin Lewis has said some consumers have earned substantial sums by moving a secondary account between providers while retaining their primary banking relationship.<\/p>\n\n\n\n

Many of the offers come from banks including Barclays, Santander, NatWest, HSBC and First Direct<\/strong>. The advice was shared after a listener asked whether it was possible to benefit from switching bonuses without giving up the perks attached to a Lloyds account.<\/p>\n\n\n\n

Martin Lewis addressed the issue on his BBC podcast after hearing from a Lloyds customer <\/strong>who was interested in switching deals offered by other banks. The listener said she wanted to keep her existing account because of the additional benefits it provides, including cinema vouchers, but wondered whether she could open another account and use that to qualify for switching incentives.<\/p>\n\n\n\n

According to Lewis, that approach is not only possible but is widely used by consumers who actively seek out switching rewards<\/strong>. His comments focused on the practicalities of meeting eligibility requirements while maintaining an existing main account.<\/p>\n\n\n\n

Secondary Accounts Can Be Used to Access Switching Bonuses<\/strong><\/h2>\n\n\n\n

A number of banks are currently offering one-off payments to attract new current account customers. According to the reports, Nationwide Building Society is offering \u00a3175, Barclays \u00a3200, Santander \u00a3180 and NatWest \u00a3200 to eligible switchers.<\/p>\n\n\n\n

HSBC is offering \u00a3500, while First Direct<\/a> is providing a \u00a3200 switching incentive. The listener who contacted the programme explained that she did not want to move away from Lloyds because of the benefits attached to her account.<\/p>\n\n\n\n

Club Lloyds customers can choose from a range of Lifestyle Benefits<\/a><\/strong>. These include a Disney+ subscription, coffee and dining offers, and cinema vouchers for chains such as ODEON and Vue.<\/p>\n\n\n\n

Responding to the question, Lewis said: \u201cEverything you say is absolutely possible and is the textbook way for savvy money savers to do this<\/em>.\u201d He explained that some people use what he described as a \u201cmule account\u201d or a \u201cburner account\u201d. Rather than switching their main account, they move a separate account<\/strong> between banks in order to qualify for available incentives.<\/p>\n\n\n\n

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Ends Monday 15 June.

Grab 4% bills cashback for a year with this fee-free bank account \u2013 no need to switch! https:\/\/t.co\/QN7yUy72dV<\/a> pic.twitter.com\/PqVnXvyBDQ<\/a><\/p>— MoneySavingExpert (@MoneySavingExp) June 13, 2026<\/a><\/blockquote>