Paying bills is no fun at the best of times. However, according to Money Saving Expert Martin Lewis , billpayers could be getting 2 per cent cashback on all bills, and what's more, your bank could also pay you up to £150.
In a segment on popular daytime TV show This Morning , the personal finance expert explained how we should be taking advantage of the fierce competition between UK banks, which sees deals improving regularly.
Speaking on the show, he said: "The bank account market is getting more competitive as five banks now pay you to switch. The choice is a mix of upfront cash, rewards, and great apps.
"The news this week is that NatWest has re-entered the free cash bonus switch war, and has launched the largest upfront cash bonus currently available.
"It’s paying switchers to most of its accounts £150 when opening an account and requesting a switch by 11.59pm on Friday 6 December."
As well as the free sign-up bonus, Martin also explained how customers can benefit from the new reward scheme now in place.
He said: "The stand out pick of NatWest/RBS’s accounts is the Reward Account, which for £2 per month fee you get two per cent cashback on household bills you pay from it via direct debit - energy, mobile, council tax, water etc."
"On average bills, it's worth £80 per year after the fee - though some with higher bills can earn over £100 per year. So all-in with the free cash you could bag over £250.
"Alternatively, if you don’t want to pay a fee and get cashback, but just want the free money then the bog standard NatWest Select account does that."
