Martin Lewis' Money Saving Expert (MSE) has shared how Brits can get themselves a free £175 through a pretty easy task.

The MSE team shared the tip in the recent MSE newsletter which was sent out to subscribers on Wednesday. The newsletter highlighted that several major banks had now relaunched switching offers to new customers. Banks and building societies often offer cash incentives to new customers willing to make a full switch off their existing current account and it is considered a relatively "quick and easy" way to make a bit of extra cash.

MSE noted that four high street banks were now paying incentives and its "top pick" was Santander's Edge offer. This incentive pays new customers £175 to switch. On top of this, you get 1% cashback on most bills you pay plus some spending bonuses.

MSE noted that the account does cost £3 a month but if you pay the bills such as council tax, broadband, energy, water, you'll get a maximum of £10 a month back under the cashback offer. There's also the same cashback on supermarket spend, fuel and train tickets. This is also capped at a tenner a month.

To get the £175, MSE explained that you do have to jump through a few hoops. First, you have got to pay in £1,500 within 60 days and you also need to have two direct debits set up. After this, you'll then get the £175 within 90 days.

The MSE team highlighted a few other switching offers you may want to consider if you're not eligible for Santander. It said: "Our top pick is still Santander Edge's free £175 + 7% savings + bills cashback deal, which we highlighted two weeks ago. But now it's joined in our Best bank accounts guide by three others: First Direct's free £175 and top service deal, the new Club Lloyds' free £175 + rewards, and TSB's free £100 + £10/mth for six months."

Alongside the current account, First Direct gives customers free overseas spending as well as a 7% regular saver and a 0% £250 overdraft. To qualify, you'll need to pay in a grand within 30 days of opening the account and use your new debit card five times.

Lloyds Bank has its Club Lloyds account which gives you £175 for switching and comes with a 12 month Disney+ subscription alongside six cinema tickets. This has a £3 a month fee and you must set up three direct debits on the account. Finally, TSB's Spend & Save account gives you £100 upfront and then £10 a month for the next six months.

You have to spend using your card five times in the first month to qualify for the upfront £100, then 20 times in each of the first six months to qualify for the £10 a month cashback. If you make 20 debit card purchases in December 2024 you'll get an extra perk - choosing from a hotel stay for two, six Odeon cinema tickets or a six month NOW Entertainment membership.