Martin Lewis has revealed how people can get a free £150 cash boost ahead of Christmas, and it's as simple as switching your bank account. 

In his weekly email through the MoneySavingExpert website, he showed that through switching your bank account to HSBC they would pay you £150 for doing so.

The HSBC Advance account is the particular one this falls under, which joins six other bank accounts that now pay you to encourage you to switch.

Additionally, it has ditched its £1,750 minimum monthly pay-in to qualify as now you just need £1,500 to go in within 60 days.

Salisbury Journal: HSBC offer to pay you £150 to switch over to their Advance account (PA)HSBC offer to pay you £150 to switch over to their Advance account (PA) (Image: PA)

Switching is usually easy and hassle-free as you can just use the new bank's seven (working) day switching service.

It moves your balance, standing orders and direct debits for you, closes your old account, and ensures any payments to it are auto-forwarded.

What other banks offer payment to switch to them?

Santander 123Lite: Free £130 and ongoing cashback on bills. Minimum pay-in is £500 per month and must move twp direct debits/standing orders.

First Direct 1st Account: Free £100 and 0% overdraft. Minimum pay-in of £1,000 for the bonus.

Halifax Reward: Free £125 + possible £5/mth or cinema ticket. Minimum pay-in of £1,500- per month

Virgin Money M Plus: Free 12-bottle case of wine or £150 experience day. Minimum pay-in of £1,000.

Nationwide Flex Direct: Free £100 and good if you have a sizeable overdraft. Minimum pay-in is £1,000 per month and must move two direct debits.

NatWest Reward: Free £100 to switch, plus £50 after a year and £36/yr cashback. Minimum pay-in of £1,250 per month and must move or set up two direct debits. Deal for this ends at 4.59pm on Thursday December 2.

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