Santander is handing £150 to new and existing customers in a newly launched current account bank switch deal.
To snap up the cash boost, customers must use the Current Account Switch Service (CASS) to move to either a Santander Edge, Santander Edge Up, Everyday, or Private (v2) current account.
Those eligible for the payment will get paid within 90 days of starting the switching process.
Andrea Melville, director of current accounts, savings and business banking at Santander, commented: “We’re excited to roll out our latest switching incentive, giving customers a quick boost to their finances and yet another reason to bank with us.
“Our £150 offer rewards both new and existing customers for making the switch, while our current accounts continue to deliver cashback and competitive rates on savings.”
How to qualify for the deal
First, customers must submit a switch request on or after November 4, 2024, and before the switcher offer is withdrawn.
They must then complete the full switch within 60 days of their initial switch request, including the closure of their previous account.
People must then pay in at least £1,500 to their eligible Santander account within 60 days of the switch request. This can be made through one or more payments.
At least two active Direct Debits must also be set up on their new account within 60 days of the switch request. Direct Debits must remain active at the time of assessment.
People will not qualify for the deal if:
- They are not a UK resident
- They switch from an account held with Santander, cahoot, or Cater Allen
- They are switching to any Santander account that isn’t listed above
- Anyone named on the Santander account has previously received a switch incentive from Santander since September 2021.
Commenting on the deal, Anthony Douglas, CEO at TotallyMoney said: “Santander has announced that it’ll pay you £150 to ditch your old bank and to switch to them. And they’ve not made it that difficult for you to secure the cash either. Making it a good option if you like to keep things simple, and not jump through too many hoops.”
