You have just hours left to claim £186 in FREE cash for switching banks

SAVVY savers only have until 5pm today to take advantage of one of the best bank switching deals currently available.

MoneySavingExpert’s Martin Lewis has warned that switchers need to act quickly to get the best offers.

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Banks are offering free cash to entice new customers, but the deals are only available for a limited period.

The current best deal could bag you £189 in free cash – but it’s only available until 4.59pm today.

The NatWest Reward account is offering new and existing customers switching over from a non-NatWest account £100.

The cash will be paid by February 11, 2022.

But you can boost your reward further – if you make at least 10 transactions a month between January and September 2022, you’ll get an extra £50.

On top of this, you can get an extra £3 a month if you use the bank’s mobile app and pay two direct debits of at least £2.

You’ll actually get £5 a month but, crucially, there a £2 a month fee – so effectively you only get a reward of £3 a month.

As well as this, the bank offers a regular savings account that pays 3% interest on up to £50 a month.

If you put £50 a month into the account for a year you’d get interest worth £9.75 to boost your rewards even further.

You also won’t be eligible if you’ve received any switching cash offers from NatWest, RBS or Ulster Bank since October 2017.

With any bank account, it’s important to check the terms and conditions.

You’ll have to pay in a minimum of £1,250 a month to be eligible for the rewards, which means the account may not be suitable for lower earners.

Which other banks offer switching bonuses?

There are plenty of other offers currently available though.

HSBC is currently offering a £150 bonus and it will also make a £10 donation to charity Shelter when you switch.

You need to pay in a minimum of £1,500 to the account in the first 60 days, but then there is no minimum monthly pay in.

Elsewhere, Santander is offering £130 to customers who move to its Santander 123 Lite account.

You must put at least £500 a month into the account to quality, and will get the money within 90 days.

And Halifax pays £125 cash and a monthly reward to switchers – you can get £5 cash, a Vue cinema ticket, two RakutenTV movie rentals, or three digital magazines.

You’ve got to pay in at least £1,500 a month though, or there’s a £3 monthly fee for the account.

Once you’ve switched and stayed long enough to satisfy the terms and conditions on the account, there’s nothing to stop you moving banks again.

The current account switching services does most of the legwork for you, so you don’t have to remember to move direct debits over when you move.

All you need to do is apply for the new account you want and the new bank will let you existing provider know you’re moving.

We spoke to one serial switcher who has moved bank three times this year alone, pocketing rewards of almost £400.

This post first appeared on thesun.co.uk