Mr Lewis also mentioned the Santander 123 Lite account which also offers money incentives.

New and existing customers who switch to the Santander 123 Lite account get £140 free cash, plus one to three percent cashback on most bills for a £2 a month fee.

People get three percent back on water, two percent on energy and one percent on Santander mortgages, council tax, mobile, home phone, broadband and paid-for TV, provided people pay by direct debit and use digital banking.

Cashback is capped at £5 a month in each tier (so max £15 a month). Alternatively, if people just want the £140, they can switch to the fee-free Everyday current account.