Martin Lewis explains how to switch your bank account and save hundreds of pounds

Lucy Leeson
·1-min read

Martin Lewis has explained how you can switch bank accounts and save hundreds of pounds.

The Money Saving Expert founder explained how a bank’s seven-working-day switch service works and the best accounts for getting up-front cash.

Appearing on This Morning on Tuesday (19 March), the 51-year-old said: “They move your balance over for you, they move standing orders over for you, they move direct debits over for you, they close your old account and any money paid into the old account is then automatically forwarded to the new one.

“It is a pretty seamless process without much hassle.”

Latest stories

  • Bank of England set to lower interest rates as Budget dampens bets for 2025

    The Bank of England is expected to lower interest rates this week, while markets are betting on fewer cuts next year after forecasts suggested the new government's first Budget will push up inflation.

  • Reeves’s Budget tax raid prompts record stampede from stock market

    Rachel Reeves’s tax grab sparked a record exodus from the stock market last month as investors raced to withdraw their cash.

  • A 10.5% yield but down 14%! Is this hidden gem the best passive income stock in the FTSE 100?

    This FTSE 100 stock is little known to many investors, but I think it has tremendous earnings growth prospects and it pays a super-high yield. The post A 10.5% yield but down 14%! Is this hidden gem the best passive income stock in the FTSE 100? appeared first on The Motley Fool UK.

  • Down 70%, is this former FTSE 100 name set to explode like the Rolls-Royce share price?

    The Rolls-Royce share price has already flown, but Roland Head wonders if this famous FTSE 250 faller could be the next stock to take off. The post Down 70%, is this former FTSE 100 name set to explode like the Rolls-Royce share price? appeared first on The Motley Fool UK.

  • 3 heavily discounted UK shares to consider buying in November

    These three UK shares have been dragged down and our writer believes they're trading below their true value as we enter November. The post 3 heavily discounted UK shares to consider buying in November appeared first on The Motley Fool UK.

  • Warren Buffett's $325 Billion Cash Pile Signals a Market Warning Investors Can't Ignore

    The Oracle of Omaha is ditching stocks and breaking six-year trends--here's why you should pay attention.

  • Reeves’s stealth inheritance tax raid to cost families £230k

    Labour’s frozen inheritance tax thresholds will cost families as much as £234,000 in stealth taxes by 2030, analysis shows.

  • UK shares to buy now: with a £1,000 lump sum, here’s what I’d do

    Zaven Boyrazian talks through how he’d look for the best shares to buy now for his portfolio and identifies one growth business that’s on his radar. The post UK shares to buy now: with a £1,000 lump sum, here’s what I’d do appeared first on The Motley Fool UK.

  • Lloyds and Barclays at risk of credit downgrade over motor finance scandal

    Britain’s biggest banks including Lloyds and Barclays face the risk of a credit downgrade if a compensation scheme is rolled out for the motor finance mis-selling scandal.

  • 3 wide-moat FTSE 100 stocks that offer value today

    These FTSE 100 companies have some of the widest economic moats in the index. And right now, Edward Sheldon believes they’re worth a closer look. The post 3 wide-moat FTSE 100 stocks that offer value today appeared first on The Motley Fool UK.

  • Bosses rail at business secretary over 'avalanche of costs'

    Business leaders expressed frustration with ministers on Monday amid a growing budget backlash that bosses said would trigger an "avalanche of costs" and leave them with no choice but to slash investment and increase prices.

  • How I’d invest within a SIPP to target a 7% dividend yield

    Zaven Boyrazian explains the steps he’d take to target a high-yield, income-generating SIPP for 2024 and beyond by investing in quality dividend shares. The post How I’d invest within a SIPP to target a 7% dividend yield appeared first on The Motley Fool UK.

  • Dollar slips as traders unwind Trump trades before election

    NEW YORK (Reuters) -The U.S. dollar slipped on Monday as investors pulled out of Trump trades, which have benefited in recent weeks from speculation that Republican former President Donald Trump is more likely to win the presidential election on Tuesday against Democratic Vice President Kamala Harris. “The Trump trade is unwinding," said Karl Schamotta, chief market strategist at Corpay in Toronto. Harris has gained in some polls though overall they show a tight race.

  • What are the best shares to buy now for my Stocks and Shares ISA?

    Some of the best stocks to buy now could already be in my Stocks and Shares ISA. That’s why I’ve just bought more of this monopoly stock. The post What are the best shares to buy now for my Stocks and Shares ISA? appeared first on The Motley Fool UK.

  • Natwest shares hit 13-year high after broker upgrade

    Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded

  • Top Three Dividend Stocks To Consider

    In the midst of a bustling week for global markets, characterized by mixed earnings reports and economic signals, investors are navigating a landscape where growth stocks have lagged behind value shares, and small-caps have shown resilience compared to their larger counterparts. As major indices like the Nasdaq Composite and S&P MidCap 400 experience fluctuations amidst macroeconomic uncertainties, dividend stocks present an appealing option for those seeking stability and income in their...

  • After a 13.5% drop, is the Lloyds share price a bargain?

    Uncertainty over car loan liabilities has sent the Lloyds share price tumbling. But as the situation develops, when does the stock become a bargain? The post After a 13.5% drop, is the Lloyds share price a bargain? appeared first on The Motley Fool UK.

  • Up 40%, but experts forecast the easyJet share price could soon hit 664p! Time to buy?

    The easyJet share price has been flying lately and stock analysts are predicting more fun to come. But there's only one thing stopping Harvey Jones from buying it. The post Up 40%, but experts forecast the easyJet share price could soon hit 664p! Time to buy? appeared first on The Motley Fool UK.

  • My favourite FTSE 100 passive income stock that keeps the Christmas coffers full

    The holiday season is expensive and can leave many consumers struggling to make ends meet. Here’s how I use a passive income stream to cover costs. The post My favourite FTSE 100 passive income stock that keeps the Christmas coffers full appeared first on The Motley Fool UK.

  • 2 FTSE 250 stocks I’d buy and hold to 2035

    Our writer Royston Wild believes these FTSE 250 growth shares could deliver spectacular returns during the next decade. Here's why. The post 2 FTSE 250 stocks I’d buy and hold to 2035 appeared first on The Motley Fool UK.