One of the best deals for bank account holders in the UK comes from one of the major providers, which is giving out £200 to customers. Banks often offer incentives for customers to switch accounts, and one of the latest offers comes from Santander. The major UK bank is giving £200 to customers who switch from their main account to one of five different accounts.
To get the £200, customers have to switch to one of Santander’s eligible accounts. These are the Everyday, Edge, Edge Up, Edge Explorer or Private. Customers need to do this through the Current Account Switch Service (CASS), switching from the bank’s regular current account. The offer was launched on November 10, but customers can still make the switch and get the £200 bonus from Santander within 90 days.
Customers should complete a full switch (including closing their external account) within 60 days, and pay in at least £1,500 to their eligible Santander account within that period. This payment can be done in one go or on multiple occasions.
Customers also have to set up at least two active household Direct Debits on their new account, such as council tax, utilities, or broadband. There are benefits to each account you can switch to, depending on what you are looking for.
Sanrander’s The Edge account costs £3 a month and pays 1% cashback on household bills. Meanwhile, The Everyday account has no monthly fee.
The Edge Up account costs customers £5 a month and gives up to £15 a month cashback on bills, as well as 2.5% AER (variable) on balances up to £25,000.
The Edge Explorer account costs £10 a month but has the added benefit of travel and mobile phone insurance. It also offers 24/7 GP access and fee-free debit card spending abroad.
However, you won’t qualify if you already hold a Santander, Cahoot or Cater Allen current account, or if you’ve already received a switch incentive from Santander.
