Santander UK has confirmed that it will be ending its £140 switcher cashback today, with switch requests accepted until 23:59 13 March 2022. The bank has seen strong demand in switching requests since the switcher cashback was launched on 24 January.
Santander has been offering £140 cashback to both new and existing customers when they switch their current account to a 1I2I3, 1I2I3 Lite, Everyday, Select or Private current account through the CASS1.
To qualify for the £140 cashback, within 60 days of requesting the switch, customers need to complete the switch, set up two active direct debits, deposit at least £1,000 and log in to their account using either online or mobile banking. The cashback is paid directly into their qualifying Santander account within 30 days thereafter2.
Existing customers can still benefit from the cashback, as long as they complete a full switch from a current account they hold with another provider to a 1I2I3, 1I2I3 Lite, Everyday, Select or Private current account via the CASS.
ENDS
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Notes to Editors
1. 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. Customers who wish to switch into their existing Santander account can switch in branch, and new customers can choose to switch either in branch or online.
2. Eligibility will be assessed on day 60 and if the customer has met the eligibility criteria, then payment will be made 30 days of this. The cashback payment will only be made once. Product eligibility applies.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2021, the bank had around 19,200 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2021, Banco Santander had €1.15 trillion in total funds, 153 million customers, of which 25.4 million are loyal and 47.4 million are digital, 9,900 branches and 197,000 employees.