Martin Lewis reveals the first and second rules for MoneySaving Club

Martin Lewis broke ranks and revealed the first and second rules of the MoneySaving Club. And it actually makes a lot of sense.

It all started when Money Saving Expert posted about Santander’s new bank-switching deal, which it said had some “serious benefits”. On X, he wrote: “Santander has launched a new bank switching deal with some serious perks… £175 FREE + 7% savings + 1% cashback on bills + cheap spending abroad + possible 2% cashback on all expenses,” along with a link to the full article on his website.

It seems like a pretty sweet deal, but it’s worth keeping in mind what he said afterwards.

READ MORE: Martin Lewis issues urgent warning to anyone with double glazing

After his tweet, he quoted himself and wrote: “Interesting that some are responding, but ‘name another product’ is bullshit, so…

“Remember the first rule of MoneySaving Club is forget loyalty – judge each product on its own merits. If you try to stick with one bank for everything, you’re definitely not going to get the best deals.”

IamNotLuke seconded this advice, replying: “This is very true, I really like my bank as a bank but I don’t use any of their other services as they are not the best. Rather, they go best in class for each product.”

A follower, Pablo_MFC had more questions, asking: “Can you see more banks in the near future launching a switch offer?”

Martin then replied: “yes, I hope so, although it’s been a bit rare recently”

Oh, don’t forget the second rule of the MoneySaving Club, Martin added: “The second rule of the MoneySaving Club is don’t talk about the MoneySaving Club, which, to be fair, I’ve broken more than once.”