Santander has launched a cashback offer for both new and existing customers of up to £100 when they transfer their ISA balance to a Stocks and Shares ISA on the bank’s Investment Hub(1), between 13 September 2022 and 4 December 2022.
The amount of cashback paid depends on the value of the ISA transferred. Customers will receive £50 for transfers between £5,000 and £20,000, and £100 for transfers over £20,000. The ISA transfer, which can be moved from both Cash ISA and Stocks and Shares ISA balances, must be initiated during the offer period, and completed and invested by the date the cashback is paid, which will be on or before 30 June 2023(2). To be eligible, the funds cannot be transferred out, withdrawn, or cancelled before the cashback is paid.
Customers can choose to invest their funds online through the Investment Hub by making their own investment decisions or by using the bank’s Financial Planning Service (eligibility criteria apply)(3).
Customers who set up a new monthly Direct Debit of £100 or more, which is invested into their Investment Hub account between 30 August 2022 and 30 November 2022, will also be eligible for the bank’s Direct Debit £25 cashback offer announced in early-September if the eligibility criteria for both offers are met.
Alexia Kilby, Head of Investments, at Santander UK, said: “Our latest cashback offer gives customers yet more reasons to invest with Santander by helping to grow their money in our award-winning Stocks and Shares ISA(4). Given the high inflation rate, we know some people are looking at investment options in order to hedge against any further increase, and we’re proud to have a range of different solutions to help customers go about investing.”
In addition, the bank offers a Savings and Investments Calculator which enables potential investors to see comparative predicted returns on their money for savings or investment options and the relative risks of both.
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Notes to Editors
1) More information about the Santander Investment Hub and eligibility criteria for the cashback scheme, visit our Investment Hub webpage here: Personal Investments | How To Invest Online | Santander UK
2) The cashback will be paid on or before 30 June 2023 to their Cash Only Account on the Investment Hub.
3) More information about Santander’s Financial Planning Service: Investment Advice | Speak To An Expert | Santander UK
4) Santander won Best Stocks & Shares ISA Provider the past five years running at the Investment Life & Pensions Moneyfacts Awards, most recently at the 2022 awards announced in September 2022. ILP Award Winners 2022 | moneyfactsgroup.co.uk