Anyone moving their day-to-day banking to M&S via the Current Account Switch Service (CASS) will bag a £100 M&S voucher if they apply by midnight tonight.

Plus, new customers will also receive an £80 M&S gift card when they stay with the bank for 12 months. However, existing credit card customers will receive a higher £120 gift card at the retailer, meaning the maximum incentive is £220 of vouchers.

As with most of the switching sweeteners, you need to meet certain criteria to qualify for the second gift card:

• Pay in at least £1,250 a month
• Set up four active direct debits
• Register for internet banking within three months of the account being open
• Opt for ‘online only’ statements.

New current account customers will be able to open a linked regular savings account paying 2.75% fixed for 12 months on contributions of £25 to £250 a month.

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In recent weeks, a number of banks have pulled their cash incentives for current account switches, including:

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• Lloyds Bank Club Lloyds – £125
• RBS Reward Account – £150
• Ulster Bank Select Current Account – £150
• NatWest Reward Account – £150.

However, last week, HSBC relaunched its £175 hard cash switch offer – making it the best incentive available to consumers.

First Direct offers £100 and Nationwide also offers £100, though if you recommend a friend, you also get £100. Those switching to the TSB Classic Plus account will also benefit with £100, and there’s £100 for those who refer a friend until 28 February 2020.