- Products eligible for offer include Everyday, Edge and Edge up current accounts
- The deal is open to new and existing customers who meet certain requirements
- We explain who is eligible for the cash bonus and what they need to do
Santander has launched a £185 switching bonus for customers who move their current account.
The deal is open to new and existing customers who open a Santander current account through the Current Account Switch Service.
The Santander current accounts eligible for the deal are the Santander Everyday current account, Santander Edge current account, Santander Edge Up current account, or the Private current account v2.
There are a few hoops to jump through to get the £185 deal.
Customers will have to complete the full switch process within 60 days, including closing their old account.
They will also need to pay in at least £1,500 within 60 days of requesting the switch process. This does not have to be in one payment.
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Customers must also set up two active direct debits within 60 days. The direct debits can’t be used to fund Santander, Cahoot, or Cater Allen savings accounts.
Customers must continue to hold a qualifiying Santander current account on the day the payment is made.
Once these requirements have been met, customers will receive the cash within 90 days.
If you are a new customer, you can make the switch online through Santander’s website, over the phone, or in branch.
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Existing Santander UK customers will have to visit a branch to make the switch and get their switching bonus payout.
Customers who have previously switched to get a Santander switching bonus are not eligible for this £185 offer.
Santander last ran a switching bonus in January 2023 when customers were able to snap up £200 – so those who bagged that deal will not be able to get the new £185 switching offer.
Andrea Melville, director of current accounts, savings and business banking, 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.’
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