Martin Lewis urges Brits to get free £205 from the banks with deadline tomorrow

Martin Lewis has shared a tip to get £205 for free from a bank, but you’ll have to be quick, as the deal is running out soon.

Here's Martin to explain it himself:

Lewis is full of tips like this, and always good for a way of making or saving a couple of extra quid along the way.

So, when he comes with stuff like this, it’s always worth listening up.

In the video he shared most recently, Lewis told how you can get £205 for free from HSBC without even having to switch your account, you’ll just need to open the account, make a few payments on a debit card, pay in some money, and use their mobile app.

It’s a bit of a process, admittedly, but considering you can get £205 at the end, it’s probably one of the quicker money-spinners you’ll ever have done.

So, to start with you can get £125 from HSBC by opening the account and doing a couple of things.

TikTok/Martin Lewis

On MoneySavingExpert.com, it is explained: “This is for new customers who get accepted for and open the fee-free HSBC Advance* account, which also gives access to a linked 5% regular saver you can put up to £250/mth in.

“To get the free cash you DON'T need to switch from another bank, so just open the Advance account and do this pretty simple list within 60 days of opening the account.”

A reminder that the deadline is tomorrow, Monday 6 November, so you’ll need to have applied for the account before then.

Then, you need to spend more than five times on the debit card, and there’s no minimum on this, so it could be anything.

Then, you have to pay in at least £1,500, although you can transfer it straight back out again.

If you haven’t got £1,500, you can transfer the same money in and out enough times to make it up.

Then, log into the mobile app, and – importantly – open the HSBC Global Money multi-currency account, ordering the multi-currency debit card.

This is only in the app, so you’ll need to remember that.

The website continues: “None of that should take up much time, so the £125 you get is pretty decent for the work you do.

“The money will then be paid into the Global Money account within 20 days.

“To qualify, you can't have held an HSBC current account, or opened a First Direct current account, since 1 October 2018.

“Existing First Direct customers can apply, so long as you opened your account before October 2018.”

OK, so there’s £125 for you.

TikTok/Martin Lewis

To get an extra £80, you need to use that new Global Money card you ordered and use it five times before April 2024.

Again, buy whatever you like, and this time you can do it in any currency you like, too.

After that, they’ll pay you the £80 in May 2024, so you have to keep the account until then.

You can only get the £80 if you’ve had the £125, and you’ll be entered into prize draw to win one of 24 £3,000 prizes, though you can opt out.

As ever the full details can be found over on MoneySavingExpert.com.

Cheers, Martin.