From Monday 4 November, Santander UK customers can earn £150 when switching to an eligible current account.
Open to both new and existing1 customers, those using the Current Account Switch Service (CASS)2 to switch to either a Santander Edge, Santander Edge Up, Everyday, or Private (v2) current account will qualify to earn £150.
To qualify for the £150 payment, customers must:
Submit a switch request on or after 4 November 2024 and before the switcher offer is withdrawn.
Complete the full switch within 60 days of their initial switch request, including the closure of their previous account.
Pay in at least £1,500 to their eligible Santander account within 60 days of the switch request. This can be made through one or more payments.
Set up at least two active Direct Debits on their new account within 60 days of the switch request. Direct Debits must remain active at the time of assessment.
Those eligible for the payment will get paid within 90 days of starting the switch process3.
Both new and existing customers can switch online through the Santander website or visit a branch to take advantage of this offer.
Andrea Melville, Director of Current Accounts, Savings and Business Banking at Santander, said: “We’re excited to roll out our latest switching incentive, giving customers a quick boost to their finances and yet another reason to bank with us. Our £150 offer rewards both new and existing customers for making the switch, while our current accounts continue to deliver cashback and competitive rates on savings.”
You won’t qualify for the switcher offer if:
You are not a UK resident.
You switch from an account held with Santander, cahoot, or Cater Allen.
You are switching to any Santander account that isn’t listed above.
Anyone named on the Santander account has previously received a switch incentive from Santander since September 2021.
- Ends -
Notes to Editors
1. Existing Santander Edge current account, Santander Edge Up current account, Everyday current account and Private current account (v2) customers, can also use the current account switch service (CASS) to transfer their balances and direct debits from bank accounts with other providers into their existing Santander current account to benefit from the offer.
2. Current Account Switch Service (CASS) makes switching simple, by transferring the existing current account balance, and all direct debits, standing orders and salary commitments, within seven days. The £150 switching offer is for a limited time period and can be withdrawn at any time.
3. Santander assesses whether a customer has achieved eligibility for the offer 60 days after the switch through CASS has been requested. If eligible, the £150 payment is then made within 30 days after that assessment.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 June 2023, the bank had around 19,400 employees and serves around 14 million active customers, 7 million digital customers via a nationwide 444 branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.
Banco Santander (SAN SM, STD US, BNC.LN) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Banco Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Banco Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first quarter of 2024, Banco Santander had €1.3 trillion in total funds, 166 million customers, 8,400 branches and 211,000 employees.