State pensioners can get up to £200 from Santander, Lloyds, Natwest or Nationwide

State pensioners who have lost their Winter Fuel Payment are being offered a potential solution this winter - switching banks. Several major banks are currently offering cash incentives to change bank brands, which could be worth up to £200.

This means that the Winter Fuel Payment, valued at £200 for those under 75, could be entirely replaced by making a single bank switch. While these offers are open to non-pensioners as well, those struggling without their Winter Fuel Payment this year may view bank switches as a method to recoup the money needed for heating bills, reports the Express.

At present, banks are willing to offer up to £200 each to entice customers to abandon their existing account and switch to them. Bank customers are notoriously resistant to change, with most surveyed by Martin Lewis confessing they hadn't changed their bank for longer than they've been in a relationship.

Currently, Lloyds Bank is offering £200 to switch, along with other benefits including 12 months of Disney Plus and access to a linked regular saver paying 6.25 percent interest fixed for a year. However, you can't switch from a Halifax, Bank of Scotland or Lloyds account.

Santander is offering a 'quick boost' of £150, requiring a minimum deposit of £1,500 and two active direct debits per month to qualify for the £150 payment. Natwest is offering £200, plus £3 a month cashback on top and a 6.17 percent interest linked regular saver. You can't switch from RBS or Natwest though.

Nationwide is also offering a £175 bonus, along with a 5 percent interest linked saver. First Direct is providing a similar £175 offer, in addition to a linked 7% regular saver, fee-free overseas spending and a £250 0 percent overdraft, although HSBC customers are not eligible for the switch.

The bank switching process is straightforward and quick - once initiated, the bank switching service will handle everything within 7 days, including the transfer of all direct debits. There's no age restriction on these switches, allowing pensioners to move their accounts between banks as they wish to take advantage of the bonuses.