Which?

The ‘free money’ hack you can do today

10 snips
Feb 27, 2025
Grace Witherden, a Which? Money expert, and Gabriel Nussbaum, known as That Money Guy, dive into the world of bank switching. They lay out the current offers and incentives that can bring you 'free money.' The discussion covers the ease of switching banks and the potential benefits, like hefty cash bonuses. However, they also warn about the pitfalls of juggling multiple accounts and the importance of understanding terms. Ultimately, they emphasize that the right choice depends on your personal financial needs and habits.
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ADVICE

Prioritize Needs over Incentives

  • Prioritize finding the best bank account provider for your needs, not just incentives.
  • Don't stay with a bank out of loyalty if they no longer serve you best.
ADVICE

Easy Switching with CASS

  • Switching bank accounts is now a simple process thanks to the Current Account Switch Service (CASS).
  • The CASS handles transferring direct debits, funds, and closing your old account.
ADVICE

Current Switching Incentives

  • Several banks offer switching incentives, with some up to £175.
  • Research the terms and conditions, as some offers have monthly fees or require specific criteria.
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