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A free £175 is on offer for people who switch to two of the UK's leading banks.

Both Nationwide and NatWest were currently offering a cash incentive to new customers.

Details of both deals were shared on MoneySavingExpert.com (MSE), the website founded by ITV star Martin Lewis.

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MSE explained that banks frequently offer switch incentives, such as free cash, boosted savings rates or other perks, to attract new customers.

It said: "Essentially, banks want your custom and switch bribes are a double win for banks – you not only join them, but you leave one of their rivals."

Full details of the promotions, which are typically available for a limited period, can be found

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