You’ll need to switch your existing current account to either an Everyday Current Account, Santander Edge Current Account, Santander Edge Up Current Account, or Private Current Account v2
Santander has launched a new £185 switch offer for new and existing customers.
To be eligible for the money, you need to switch your existing current account to either an Everyday Current Account, Santander Edge Current Account, Santander Edge Up Current Account, or Private Current Account v2. You’ll need to complete the full switch, pay in at least £1,500 and set up two active direct debits within 60 days.
The £185 will be paid within 90 days once you have met the above criteria. New customers can switch online through the Santander website, over phone, or in branch, but existing Santander customers must visit a branch. Customers who have previously had a Santander switch bonus are not eligible for this latest offer.
Martin Lewis‘ MoneySavingExpert.com said its “top pick” of the Santander accounts is the Santander Edge as you can get 1% cashback, capped at £10 a month, on energy, council tax, broadband, TV, mobile and water bills, and 1% on supermarket, fuel and train spending, again capped at £10 a month. But do keep in mind this account comes with a £3 monthly fee. You also get access to a linked saver that pays 4% on up to £4,000 for the first year.
Andrea Melville, Director of Current Accounts, Savings and Business Banking, Santander said: “With finances often stretched these days, we know customers want a current account that not only suits their everyday banking needs, but that also delivers additional ongoing value. Our new switching offer not only provides a quick boost to customers’ finances, but forms part of the wider value package we provide through our Edge accounts.”
HSBC also has a new offer for new customers, where they can get up to £220 by switching. This involves opening a current account with HSBC and regularly saving money. Customers can get £100 after opening an Advance or Premier Account and meeting the criteria, which includes opening an Online Bonus Saver. If customers keep meeting monthly criteria including depositing at least £50 into their Online Bonus Saver every month, they could get up to another £10 a month over 12 months as part of the offer, getting up to £220 in total.
NatWest recently launched a new £200 bank switch offer for new and existing customers who move to its Reward or Select account. You must then pay in £1,250 into the new account and log into the mobile app within 60 days of switching. The money will be paid within seven days after you’ve done this.
It comes after rival Lloyds Bank introduced a new £175 switch offer. The money is being paid to customers who switch to a Club Lloyds account between February 13 and March 28. As well as opening the new bank account, you need to transfer across two direct debits. On top of the switch cash, Club Lloyds customers can also choose from a range of other perks, including a Disney+ subscription, Vue or Odeon cinema tickets, a magazine subscription, or a Coffee Club and Gourmet Society membership.
