Couples could get a free £360 by switching to a major bank. This “cheat code” could also see you get £60-worth of Amazon vouchers.
Switch deals are fairly common from UK banks. They’re offered as a way to attract new customers.
However, there is usually a set of rules you need to follow to make sure you qualify. In an update on the Money Saving Expert (MSE) website, founded by Martin Lewis, the team explained more.
They detailed how to qualify for the cash from Santander by switching to its Edge account. MSE said: “Free £210 to switch to top (joint) bills bank account. Santander Edge currently gives newbies switching to it £180 cash, plus – just launched – via our link you now get a £30 Amazon voucher on top.
“If you’re looking for this as a central account, or to replace an existing bills account so you get the switch cash, it’s a winner.”
It added: “As well as the free £180 and the £30 Amazon voucher, the big sell here is for a £3 a month fee you get cashback on bills paid from it by direct debit. For a typical home, that covers the fee and more.”
However, if you have a partner, you could effectively double the amount of money you get. MSE said: “Couples cheat code: As Santander gives switchers £210 and caps the cashback at £10 a month, if you’re a couple with bigger bills, you could open one each, thus bagging £420 and getting up to £20 a month bills cashback.
“You’d need two accounts to be switching from. To then allocate the payments between you, just work out what’ll be paid from each of your bills accounts to max the cashback and both put in the same share as before, just allocating to the right account.”
Main perks of the Santander Edge account are:
- Open an account online or in branch and do the following within 60 days
- Switch in an account
- Pay in £1,500 or more
- Have two or more direct debits
The £180 should be paid within 60 to 90 days.
To get the £30 Amazon voucher (you don’t need to switch to just get this):
- Open an account via this link
- Spend five or more times on the debit card within 30 days
- You can’t have had a Santander voucher in the last year
You’ll get an email to claim the voucher after August 30 (do it within 30 days).
MSE added that if you have bigger bills it might be worth upgrading to the Santander Edge Up account. It said: “Santander Edge Up costs £5 a month but gives up to £15 a month back on most household bills (so max £180 a year) and you still get the free £210 for switching to it.
“So for bills over £1,200 a month it beats the standard Edge account. The min pay-in is £1,500 a month, though, and you can’t open the 6% saver with this account.”
For more information, visit the MSE website here.
