Published On: Sat, Sep 28th, 2019

Martin Lewis: Expert on free cash from Paypal & best savings accounts

Martin Lewis is the Money Saving Expert who appeared on This Morning to share his tips. He gave his top deals of the week and said Paypal has paid out £1million into customers’ accounts. The expert urged users to check their accounts to see if they have been given a free sum of money. He also explained which savings accounts have the best deals and interest rates for students.

Martin told viewers how they could get up to £50 by checking their Paypal accounts.

He said: “Online payment platform PayPal has added £5, £10 or £50 free credit into random PayPal accounts, up to £1 million.

“Given there are 26 million UK PayPal accounts, the odds you’ve been given credit aren’t great, but it only takes a few minutes to check.”

The expert explained Paypal customers can do this by signing into the account but they must act fast to spend the cash.

“If credit has been added, it will be applied automatically to your next PayPal spend, but you’ll need to use it by 11.59pm on Monday 30 September – so you won’t have long,” he said.

“There’s no minimum spend and you don’t have to use it all in one go, so you could use it to make multiple smaller payments – but any unused credit will disappear at the end of the month.”

He also told students what deals are on at different banks and how to get the best interest rates.

Martin explained: “Probably the top pick is HSBC, which gives new students and apprentices a free £100 if you apply by 31 December 2019.

“Plus you’ll get a guaranteed £1,000 zero per cent overdraft in year one, and the option to increase it to up to £2,000 in year two and up to £3,000 in year three.”

For those hoping for a bigger overdraft or different perks, he explained the other accounts which could work.

Martin told the viewers: “For a guaranteed larger zero per cent overdraft, the Nationwide BS FlexStudent account for new students offers £1,000 in year one, £2,000 in year two and £3,000 in year three.

Source link