Santander has introduced a new switching bonus of £185 for customers who decide to move their current account to the bank. This offer is available to both new and existing customers who open a Santander current account using the current account switching service.
The eligible Santander current accounts for this promotion include the Santander Everyday current account, the Santander Edge current account, the Santander Edge Up current account, or the Private v2 current account. To qualify for the £185 bonus, customers must complete the entire switching process within 60 days, which includes closing their old account.
Additionally, customers need to deposit at least £1,500 within 60 days of initiating the switching process, with the payment not necessarily needing to be made in one go. They are also required to set up two active direct debits within 60 days. It’s important to note that these direct debits cannot be used to fund Santander, Cahoot, or Cater Allen savings accounts.
Customers must maintain an eligible Santander current account on the day the payment is due to receive the bonus within 90 days of meeting all the conditions. New customers can make the switch online through the Santander website, by phone, or in-branch. Existing Santander UK customers will have to visit a branch to switch and receive their bonus.
It’s worth mentioning that customers who have previously received a Santander switching bonus are not eligible for this £185 offer. Those who took advantage of the £200 switching bonus in January 2023 are also excluded from this new offer. Andrea Melville, the director of current accounts, savings, and business banking at Santander, emphasized that this new switching offer aims to provide customers with immediate financial benefits and is part of the overall value package offered by Santander through their Edge accounts.
The Santander Edge current account offers cashback on essential bills and spending, a linked saver with attractive interest rates, and free spending abroad for a monthly fee of £3. The Santander Edge Up current account provides even higher cashback benefits, interest credits, and fee-free spending abroad for a monthly fee of £5. For customers looking for a basic current account, the Santander Everyday current account offers no monthly fees, online and mobile banking, and free cash withdrawals from Santander ATMs worldwide. Lastly, the Santander Private v2 current account provides high daily ATM withdrawal limits, access to a wide network of branches, and competitive interest rates for a monthly fee of £5.
Overall, the Santander switching bonus presents an opportunity for customers to receive a financial incentive while also benefiting from the features and services offered by Santander’s current accounts.
