Archive: MoneySavingExpert's Money Tips Email

The Big 6 energy price war hots up

E.on joins British Gas & EDF with huge cuts - save £260/yr

And don't be fooled by the price-cap drop, these deals smash standard rates

The energy battle rumbles into its second week. Last week's corkers are still here - British Gas & EDF's 1yr fixes and a variable deal from mid-sized Bulb. E.on has since entered the fray with a 1yr fix, while EDF has launched a hot 2yr fix. Some tiddlers charge less, but many of you tell us you prefer a biggie. These 1yr fixes, in particular, are standouts as they're easily the cheapest Big 6 deals, but it's key you check if you can save ASAP, as Bulb's deal ends on Thu and we don't know how long the others will last.

Plus don't be fooled by last week's news that standard energy prices will drop by a typical £75/yr in Oct, as we predicted, due to the regulator's new price-cap level. They're a rip-off now for most - and will be after. Just compare the avg Big 6 standard tariff on typical use - likely to cost £1,191 over the next year (factoring in the cut) - with the avg costs of the top deals below. First, some key info...

- Always compare prices as they vary by usage & region. You can check via the links below if these deals win for you using our Cheap Energy Club. If you just want the cheapest (from tiddlers of those with poor feedback), go straight to a full-market comparison.
- You won't find these prices direct. That's because all come with £25 dual-fuel cashback via Cheap Energy Club and you won't see the underlying deals if you go direct to the providers anyway. Sadly, you can't get them on prepay or in NI.

• Don't worry - switching is easy. Some are worried by it, but your supply won't be cut off, no one visits your home (unless you want a smart meter) and it's the same gas, same electricity, same safety. The only changes are price and service. See our switching FAQs for more help.  

It's back. The return of the big bank-switch bribe - free £175

The switching war had cooled but HSBC has just fired a powerful salvo in pursuit of your custom

HSBC has relaunched its free £175 bribe to switch - by far the biggest upfront cash bonus. It joins top-service firm First Direct and M&S Bank as the top three switching offers. So if you're fed up with your bank or you just want the free cash, we've brought together the top incentives to show your bank the door. And switching is easy - it takes just 7 working days and the new bank moves all your direct debits etc. For all below, you must pass a not-too-harsh credit check & use the official switching service.

• New. HSBC. Top for upfront cash - free £175 + 5% reg saver. Apply for HSBC's Advance account by Mon 2 Sep and switchers get £175, which should come within 40 days. Important: The deal is only available via Money.co.uk so the link above takes you there, meaning there's an extra step compared with the deals below. Plus with it you can open a 5% fixed regular saver, where you can put up to £250/mth for a year.
  
  How do I qualify? You must start a switch within 30 days of opening the account, incl 2+ direct debits or standing orders. You can't have had an HSBC account since 2016. There's no pay-in requirement for the bonus, but you must pay in £1,750/mth to keep the account open - equiv to a £26,000/yr salary.
   
• First Direct. Top service/cash combo - free £50 + 5% reg saver. New switchers to First Direct* get £50, access to its 5% regular saver where you can save £300/mth for 1yr, and many get a £250 0% overdraft. It rates well for customer service - finishing second in our March poll, the first time it's not won (it was pipped by app-based bank Monzo, which doesn't offer a switch bonus).
  
  How do I qualify? Just pay in £1,000+ within 3mths for the bonus, which comes within 28 days of doing so.
   
• M&S Bank. Biggest overall bribe - free £100 M&S voucher with NO min pay-in (+ £80 vch after 1yr if you pay in £1,250/mth). Newbies who open an M&S Bank* account and switch within 3mths can get the £100 vch within 40 days, plus another £80 vch (or £120 if you've an M&S credit card) after a year. You can also access its 5% regular saver where you can put up to £250/mth for a year.
  
  How do I qualify? Switch within 3mths, incl 4+ active direct debits, to qualify for the £100. For the extra £80 (£120 if you've an M&S credit card), you must deposit £1,250/mth, keep the direct debits active and register for online banking and statements within 3mths of opening.  

For more info and options, see Best Bank Accounts.