You could get up to £190 free cash simply by switching banks, Money Saving Expert Martin Lewis has revealed.

Major high street banks Barclays, TSB and the Co-Operative Bank are currently offering switch deals to new customers.

The likes of Lloyds and Nationwide have run similar switch offers in recent months.

So if you are looking to switch bank accounts, or looking to make an easy few hundred pounds, its worth having a look at the major banks to see which offers are available.

How to claim up to £190 by switching banks

There are currently (at the time of writing) three banks offering free money through switch deals, according to Martin Lewis:

Barclays

Barclays is currently offering customers who switch over from another bank £175.

How to get the £175 bonus

To claim the £175, according to Lewis, simply follow these steps:

  • Open a sole account via Barclays' app (no joint accounts)
  • Switch in an account from a different bank, including two Direct Debits
  • Join its 'Blue Rewards' scheme (£5 per month, must pay at least £800 in to the account each month and register for digital banking)
  • Pay in at least £800 by August 30, 2024

Once you have completed these steps, the £175 will then be paid into your account within 28 days.

You can't claim this offer if you currently have an open Barclays account, or have closed one on or after July 8.

Lewis adds you can't have ever received a switch cash from Barclays before either.

On top of the £175 you also get the following perks:

  • Free Apple TV+ subscription (normally £8.99/month)
  • Major League Soccer stream (normally £12/month)
  • 5.12% saver you can put up to £5,000 in (maxed out, it's £256/year interest)

TSB

TSB is offering customers who switch over from another bank up to £190 (£100 upfront, a further £15 per month cashback for six months, plus a choice of an extra reward (available to claim in April 2025)).

Who is Martin Lewis?

How to get the £190 bonus

To claim the £100, Lewis said simply:

  • Open a TSB account online, in-app or in branch
  • Switch in an account from a different bank within 21 days
  • By September 27 spend on the debit card at least five times and log in to the mobile app

Once you have followed these steps the £100 will be paid into your account between October 15 and 25.

You will be unable to claim this offer if you have had a switch bonus from TSB since October 1, 2022.

To qualify for the extra £90 (£15 per month over six months) you'll need to use the debit card at least 20 times for the first six months.

If you then make at least 20 debit card payments in March 2025 you'll earn an extra reward for the following month - either six Odeon cinema tickets or a six-month Now Entertainment membership.

The Co-operative Bank

You can get up to £160 in free cash via The Co-operative Bank's current switch deal.

How to get the £160 bonus

To claim the £100:

  • Open a Co-operative Bank account online
  • Request to switch in an account from a different bank within 10 days and complete the switch within six weeks

Then within 30 days of switching:

  • Deposit at least £1,000
  • Have at least two Direct Debits or standing orders
  • Use the debit card a minimum of five times
  • Sign up to online banking

Once you have done all this you'll get the £100 (within 40 days of switching).

How to claim the £10 per month cashback for six months:

  • Qualify for the £100 payment
  • By the 20th of each month, have a minimum of two Direct Debits or standing orders and use the debit card at least five times (starting from the month after you receive the £100 switch bonus)

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The £10 will be paid into your new account by the end of each qualifying month.

You can't claim this offer it you have received a switch bonus from the Co-op Bank since November 1, 2022.

For more information on any of these switch offers, visit the relevant banks website.