A HIGH street bank is offering customers 100 Greggs sausage rolls for free if they open a new bank account.
Virgin Money has launched a new reward system that gives switchers a number of points to be exchanged for different perks including Greggs sausage rolls and flights abroad.
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Customers switching to the Virgin Money M Plus Account and Virgin Money Club M Account will be given 20,000 points to spend.
As a Greggs sausage roll costs 200 points, you could get 100 of them with the reward and the same goes to Greggs doughnut and muffin.
These points can also go towards a return flight to Barbados and the Bahamas, although you will have to pay a few hundreds pounds of fees and taxes on top of the points.
You can also choose to get 14 VUE cinema tickets or other rewards, which cost different points.
In order to get 20,000 points, you need to apply online for an M Plus or Club M Account and switch over at least of your direct debits within 45 days.
You need to pay in at least £1,000 and keep this in the account until Virgin Money emails the promo code to you.
You also have to register on the Virgin Money mobile banking app and sign-up to Virgin Red, the company’s reward club, as points can’t be used outside of the Virgin Red app.
If you already have an M, M Plus or Club M current account or have closed one since 31 January 2022, you won’t qualify for the reward.
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You also can’t have switched a current account to Virgin Money before.
Make sure to check all the eligibility criteria before signing up as there might be other requirements for claiming the freebie.
Customers can compare bank accounts using MoneySavingExpert’s guide, or another comparison website such as Compare The Market.
You also need to check that it provides the services you need before switching such as having a branch near you or top customer service.
How to switch bank accounts?
NOT sure what switching could do for you? Here’s what you need to know:
- Switching is easy. Under the switching service, swapping banks should take seven working days. That includes all your payments, direct debits and standing orders being moved too. Just open your new account and then ask your new provider to close your old account using the switch service.
- Make sure you are eligible. Most accounts have certain requirements, such as paying in a minimum amount of cash each month.
- Watch your overdraft. Check your new bank will offer you the same limit — and does not have higher costs for using it.
Meanwhile, other banks also provide rewards to attract new customers with five currently offering free cash.
HSBC Advance is offering a £175 payment to switchers, the biggest cash amount available at the moment, according to the MoneySavingExpert website.
To claim the freebie you need to open an HSBC Advance account and start your switch within 30 days.
You’ll need to pay in at least £1,500 within 60 days and switch over two or more of your direct debits or standing orders to receive the money.
Once you’ve done that and HSBC ticks off your eligibility, you’ll receive the money within 30 days.
First Direct, Royal Bank of Scotland, Halifax and Nationwide also offer switch bonuses, ranging between £125 and £150.
One savvy switcher has revealed how he managed to make £400 a year by changing banks.
Elsewhere, a woman tracked down a lost bank account after 60 years and discovered it was worth hundreds – we explain how you can too.
And here are seven companies that will pay you in cash or vouchers if you refer a friend.
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