Santander has introduced an enticing £185 switching bonus for customers who decide to move their current account to the bank. This offer is available to both new and existing customers who opt to open a Santander current account through the Current Account Switch Service. The eligible accounts include the Santander Everyday current account, Santander Edge current account, Santander Edge Up current account, or the Private current account v2.
To qualify for the £185 bonus, customers must complete the full switch process within 60 days, which includes closing their previous account. They also need to deposit at least £1,500 within 60 days of initiating the switch process. Additionally, customers are required to set up two active direct debits within the same 60-day period.
It is important to note that customers must continue to maintain a qualifying Santander current account to receive the payment within 90 days after meeting all the criteria. New customers can make the switch online, over the phone, or in-branch, while existing Santander UK customers will need to visit a branch to make the switch.
Customers who have previously taken advantage of a Santander switching bonus are not eligible for this particular £185 offer. The bank last offered a switching bonus in January 2023 for £200, so those who benefited from that promotion will not be able to avail of the new offer.
Andrea Melville, the director of current accounts, savings, and business banking at Santander, emphasized the importance of providing customers with ongoing value through their current accounts. She stated that the new switching offer aims to provide customers with a financial boost while also being part of the broader value package offered through the Edge accounts.
Santander’s current account options include the Santander Edge Current Account, offering up to £20 a month from cashback on essential bills and spending; the Santander Edge Up Current Account, providing up to £30 a month in cashback and 3.5% in-credit interest on balances up to £25,000; the Santander Everyday Current Account, a fee-free account with online and mobile banking features; and the Santander Private Current Account (v2), offering various benefits such as daily cash withdrawals, access to branches worldwide, and competitive interest rates for a monthly fee.
