Martin Lewis reveals way bank customers can make £150
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Martin Lewis, the founder of Money Saving Expert, often highlights the best deals and tips, and his latest update is no different. This week, Martin has highlighted a deal put forward by Virgin Money which is particularly competitive in the current climate.
New savers to Virgin Money, he said, can get a one percent savings deal – without needing to switch to secure it.
He highlighted the new Virgin Money M Plus account, which has numerous benefits to entice new customers.
Primarily is the access to its linked M Plus savings account which is an easy access form of saving.
It pays one percent variable on savings up to £25,000, making it one of the leaders of the pack at the moment in terms of offers.
The financial journalist highlighted the other aspects of the deal which may be interesting to Britons, within the latest Money Tips newsletter from Money Saving Expert.
Another key element switchers can receive is a free £100 experience day out voucher, which enables people to access a wide range of activities.
This could be afternoon tea, skydiving, or visiting must-see UK attractions.
The M Plus Account also offers a top debit card for making purchases abroad.
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Finally, the account offers five percent AER in-credit interest on up to £1,000, with three percent as a 12 month bonus.
But one of the best elements about this offer is that individuals will not have to switch to secure it.
Martin explained: “While you need to use its switching service to get the first two elements, you don’t need to switch to it to get the one percent savings and the debit card.
“So you can just open it up, without switching, alongside your existing current account to get one percent on savings up to £25,000, and for the cheap overseas spending.”
However, Britons who do not make the switch should be aware of a key aspect they could lose out on.
These individuals will not be able to get the three percent bonus within the main account.
But Martin said the two percent bonus of up to £1,000 can still be secured, which is still good.
To apply for the account, Britons must be aged 18 or over.
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Virgin Money has told 16 and 17 year olds to call them if they wish to open this account, for further information.
Individuals must also live in the UK in order to qualify.
Finally, they will need to have read the terms, tariffs, summary box and switch offer terms outlined on the Virgin Money website.
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip
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