Martin Lewis reveals how customers of three key banks can snag £175 before Christmas

Martin Lewis has shared a nifty trick to pocket an extra £175 just in time for the festive season.

If you're looking to boost your Christmas budget, simply switch your current account to First Direct's 1 Account, the founder of Money Saving Expert says. In his latest newsletter released on Wednesday, the presenter revealed: "Grab a FREE £175 in time for Christmas. All banks, bar one, have turned off their switching bribes. I hope some will return, but there's no guarantee."

Unfortunately, if you've been with HSBC UK since 2018, you won't be able to benefit from this offer. But it's good news for customers of Nationwide, Santander, Barclays, NatWest, TSB, and Lloyds, according to Martin.

READ MORE: Fashion fans declare 'gorgeous' Nobody's Child coat as 'trench of the season'

He said: "Luckily, the one currently available is often a top pick, so it's worth considering." Delving deeper, he added: "First Direct FREE £175, top service, 0% overdraft, 7% linked saver. First Direct pays newbies who use its switching service £175, so do it now and you can get the cash by 20 Nov, plenty of time for it to go towards your Christmas coffers."

Highlighting the benefits, he said: "It's always been one of the top accounts for service, rated 90 per cent great, and it also offers a linked 7 per cent regular savings account you can put up to £300 per month in, an ongoing £250 interest-free overdraft for many, and its debit card gives perfect rates abroad."

First Direct has laid out specific criteria on its website for new customers, reports Birmingham Live, stating: "Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. New customers only, who haven't previously held a first direct product."

The bank also added: "Sorry, we also can't offer this to people who have opened an HSBC current account on or after 1 January 2018. Offer can be withdrawn at any time. Subject to status. UK residents only."