Martin Lewis: Money Saving Expert shares how to get £200 just by switching banks - but you'll need to act fast

• A bank is offering up to £200 for new customers switching accounts
• The deal includes a £175 cash bonus and a £25 Amazon voucher for qualifying switchers
• Customers can also receive a fee-free overseas debit card, access to a 7% regular savings account and a £250 0% overdraft
• Complete a full switch using the Current Account Switch Service, transferring payments and standing orders automatically
• But act fast - the deal is expected to expire on Sunday 21 July, possibly sooner!

Martin Lewis’ Money Saving Expert (MSE) team have shed light on another tantalising deal that could see you earn up to £200 just for switching bank account.

But act fast, the offer is set to close this weekend (21 July)!

Last week, First Direct, which consistently ranks highly in MSE’S own customer service polls, announced an addition to an existing offer for new customers.

Those who switch to First Direct could already receive a £175 cash incentive, but now the bank has topped that up to potential earnings of £200 with the addition of a £25 Amazon voucher.

But the tempting offer won’t be around for long, and is expected to end on Sunday 21 July - or even sooner, if demand is high - so you’ll want to be prompt if you’re thinking of switching your accounts.

Clicking on this link will tell you whether the offer is still available (it could be ended by First Direct at any time with little or no notice).

As part of the deal, new customers also receive a debit card with no overseas fees, access to a 7% regular savings account for up to £300 per month (yielding £136 per year in interest), and a £250 0% overdraft.

How to get the deal

To qualify for the switch bonuses, you must close your old account and complete a full switch using the Current Account Switch Service through the new bank. This service automatically transfers all payments, Direct Debits and standing orders to the new account.

It's also advisable to download a few years' statements from your old bank before switching in case you need them later. The accounts you're switching between must be with different banks.

Who can get the bonus?

• You must never have had any account with First Direct (e.g., current account, credit card, mortgage)
• You must not have opened a current account with sister bank HSBC since January 2018

How to get the £175 bonus:

• Open the new account in-app (or online for joint accounts)
• Switch in an account from a different bank, including at least two Direct Debits or standing orders
• Within 30 days of opening the account: pay in at least £1,000, use your debit card at least five times, and log on to online banking
• The £175 will then be paid by the 20th of the next month

How to claim the £25 Amazon voucher:

• Meet all the above criteria (including entering your email address when you click the link)
• Within 90 days of opening the account, you'll receive an email with the voucher
• You then have 90 days to claim the voucher

Have you recently switched to First Direct or taken advantage of similar bank offers? We’d love to hear your experiences! Share your thoughts and tips in the comments section.