Earn more than £100 while shopping at major supermarkets with this new tip

Money Saving Expert Martin Lewis has given a new tip on how to get paid by your bank each time you do your grocery shopping, buy petrol or pay your mortgage and energy bills.

Lewis urged viewers to take advantage of the offer on his Martin Lewis Money Show Live on Tuesday night and claimed people can save over £100 a year if they follow his advice.

Santander Edge

The tip involves making a bank switch to a Santander Edge account, which is a new account that has just come onto the market. The account costs £3 a month but offers 1% cashback on groceries, fuel and travel up to a maximum of £10 a month and also on most of your utility bills up to a maximum of £10 a month.

Most major supermarkets are eligible for the foodshop, including Tesco, Asda, Morrisons and Sainsbury's and Lewis believes that on typical bills this will save people between £70 and £100 a year.

The offer is open to people who don’t already have a Santander account and you must pay in at least £500 a month in order to keep the account active but this should include most people who have a salary.

£200 switch reward

In addition to the cashback, Santander will also give account holders a £200 payment for switching. Furthermore, account holders will have access to a 4% easy-access savings account, up to a maximum balance of £4,000.

Martin explained how the offer is very good considering that banks have not been so competitive in general this year, as per Yorkshire Live:

It's pretty good with the £200 and the cashback. What's interesting here is normally we see a price war between the banks fighting to legally bribe you to come and be a customer.

That hasn't happened this year. The only alternative is First Direct, £175 free, top service in most polls done on this and it give you a £250 0% overdraft.

Sources used:

- Yorkshire Live 'Martin Lewis' bank trick to get paid to shop at Asda, Tesco, Morrisons and other supermarkets'