Why Halifax, Santander, Barclays, NatWest and Nationwide are giving customers free cash

Customers who have accounts with Halifax, Santander and other major UK banks could see free cash land in their accounts as often as every month. Banks and building societies want your money, so they'll often offer incentives to get you to stick with them.

Sometimes this takes the form of dishing out "cashback" on certain purchases, or offering a monthly cash incentive if customers meet certain criteria. For example, Santander Edge Up and Santander Edge customers can get up to £30 and £20 a month, respectively, from the UK banking giant.

Elsewhere, those with a Natwest Reward account can claim back up to £5 per month, with Barclays Blue Rewards customers able to get cashback of up to 15% of spends. Halifax offers £5 a month - or a monthly reward such as a free cinema ticket - with its Rewards Extras account, and Nationwide customers with a FlexDirect account can earn up to £5 a month on all "qualifying spend".

As you'd expect, there are various terms and conditions across these accounts, and some come with a monthly fee. Banks also often offer cash to get you to switch your account to one with them, and NatWest is currently giving £180 to all eligible switchers.

Those who switch to a Reward account will receive the cash as long as they first pay in £1,250 within the first 60 days of completing the switch. They must also keep the money in the account for at least 24 hours, and log into the mobile app. You'll need to be 18 or over, and other conditions apply.

Elsewhere, First Direct is offering a £175 switching bonus to anyone who makes the move and meets its switching criteria.