Martin Lewis says switching banks before October 7 could put a free £240 in your pocket by Christmas

From the Newshound archive · first published 20 September 2026.

With Christmas fewer than 100 days away and the average family facing a £1,681 festive bill — a figure that has risen by more than £100 over the past two years — Martin Lewis is urging people to act fast on what his MoneySavingExpert team calls 2026's most generous free cash offer tied to a fee-free bank account. Santander is offering £240 to new Everyday account holders who switch before the October 7 deadline, deposit £1,500 and set up two Direct Debits within 60 days. Hit every condition and the payment lands by December 15 — well-timed for any last-minute spending.

Google searches for 'how to afford Christmas' have reportedly risen 261 per cent year on year.

The Santander Everyday account also carries a regular saver paying 8% variable on monthly deposits of up to £200 — though anyone who held a Santander account from January 2026 onwards is automatically excluded.