HOUSEHOLDS could get free cash worth up to £210 just in time for Christmas.

Three major banks are now offering cash incentives for new customers and one is also offering an exclusive rate for savers on top.

Switching bank accounts can be an easy way to give your balance a quick boost.

Cash incentives are regularly launched by banks to entice new customers, but do be sure to check the small print.

Most of these offers have certain criteria that you need to meet in order for you to get the cash.

For example, some accounts require you to pay a certain amount each month to maintain them.

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While others might charge you for setting up an overdraft.

Be sure to check that the account you chose is right for you in the long term before switching.

Once you've decided you'll need to make the switch using the current account switching service (CASS) which takes just seven days, and the new bank handles it for you.

We explain further down how the CASS works, but first here's the full list of the offers available now that could tempt you to move.

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TSB

If you switch your current account to TSB you could get up to £210.

TSB is offering a £150 switch incentive if you open either its Spend & Save account, or Spend & Save Plus account.

You can also earn up to £60 in the first six months via cashback.

To be eligible, you need to complete the full switch using the CASS by October 31.

You must also log into the TSB mobile banking app at least once, make a minimum of one debit card payment every month, and have two active direct debits every month.

If you do all of this then £150 will be paid directly into your new bank account by November 30.

To earn up to £60 cashback you need to make 20 or more debit card payments each month for the first six months.

You can earn £5 in cashback each month, but if you switch and meet all the criteria TSB will double the cashback to £10 a month for six months – so £60 in total.

There's no end date for this switching deal, but beware banks can pull them at any time and with short notice.

Anyone opening the Spend & Save Plus account should be aware there's a monthly £3 fee – but there's no fee with the Spend & Save.

Nationwide

Nationwide has launched a £200 switching incentive for customers.

To qualify for it customers must complete a full switch using CASS.

Also, a minimum of two active direct debits must be transferred to the new account, and you must complete the switch within 60 days of starting it.

Customers can get the cash when switching to one of the building society's three main current accounts: FlexPlus, FlexDirect, or FlexAccount.

It comes as the same time the building society is launching a regular savings account that's only for current account customers.

It offers 8% interest when you deposit the maximum amount of £200 each month for 12 months.

A combination of the cash incentive and interest from the Flex regular saver could earn customers £377 in the first year.

It's worth noting that anyone opening the FlexPlus will pay £13 a month, though this does come with extras like travel insurance, but the FlexAccount is fee-free.

First Direct

First Direct is offering new customers £175 if they make the switch.

Anyone who makes the switch before October is in with a chance to win a £12,500 cash prize too.

To get the £175 you'll need to deposit £1,000 within three months of opening your account.

Like the others, the switch must be done through via CASS.

After the switch is finalised, you should get the £175 paid within 28 days, as long as you've paid in £1,000 within the first three months of having the account.

You will also be entered into the draw for the big cash prize of £12,500 which will be selected on November 8.

You will not be able to qualify for this offer if you have previously opened an account through HSBC or First Direct on or after January 1, 2020.

How do I switch my current account?

It takes just a few steps to switch your account via the Current Account Switching Service (CASS).

You just have to contact the new bank you've chosen and apply for the account you want – they should sort the rest.

If you are accepted, they will offer to make the switch for you automatically and ask you to choose a date to move.

The switch will then happen without you having to do anything.

Your old bank should speak to the new one and all of your direct debits, current balance and salary will be transferred across.

But you may have to move some recurring regular payments yourself if they are made via a card payment, for example if you have a monthly subscription for dog food via Amazon.

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Once this is done, you will receive your new cards, log-in details and any PINS.

Financial wizz Alex Welford made £1,000 in free cash by regularly taking advantage of switching offers.

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