During the coronavirus pandemic, the free exchange of bank notes was abolished, but companies are now offering legal bank bribery again.
If you need a little extra cash for Christmas this year, Martin Lewis has found a way to get £125 for free.
Any British person can claim their cash before December.
It should only take about seven working days, and the bank should do all the work, reports the Mirror.
Nowadays, changing the bank is quite easy, as the bank should have its own exchange service.
The money is offered to new customers who move to certain bank accounts.
The top payers are at the moment:
Martin wrote in his newsletter: “Four banks are currently paying, and two of them are paying so fast that you will receive the money in time to top up your Christmas cash box.
“It only takes seven working days, and the banks do everything – they convert your direct debit and standing orders, close your old account and make sure that all payments are forwarded.
And Martin also had the advice to keep the minimum payment thresholds.
“Remember first, if you have a joint account, it’s the combined deposit that counts,” he wrote.
“Suppose the deposit is £1,250 but you only have £850, then deposit the £850, withdraw £400 to an account at another bank (or in cash) and then deposit it again, and BINGO – you would qualify.
“If not, there is usually a way to cheat it.
Martin gave a brief overview of which one is best for you as well.
” In addition, if you have had an HSBC account since January 2017 or have opened a First Direct or M&S bank account, you do not qualify.
But there was more money available overall if you were willing to wait.
“Do you want the most cash in advance in time for Christmas? HSBC is your winner (although you have to exchange 2+ direct debits or standing orders to get it),” he wrote.