- Products eligible for the offer include Everyday, Edge and Edge up current accounts.
- Offer 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
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Santander has launched a £185 switching bonus for customers moving their current account.
The offer is open to new and existing customers who open a Santander current account via the current account switching service.
The Santander current accounts eligible for the operation are the Santander Everyday current account, the Santander Edge current account, the Santander Edge Up current account or the Private v2 current account.
Cash carrot: Santander has launched a £185 switching bonus for new and existing customers
There are a few hoops to jump through to get the £185 deal.
Customers will need to complete the entire switching process within 60 days, including closing their old account.
They will also have to pay at least £1,500 within 60 days of requesting the change process. This does not have to be done in one payment.
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Customers must also set up two active direct debits within 60 days. Direct debits cannot be used to fund Santander, Cahoot or Cater Allen savings accounts.
Customers must continue to hold an eligible Santander current account on the day of payment.
Once these conditions are met, customers will receive the money within 90 days.
If you are a new customer, you can make the change online via the Santander website, by telephone or in branch.
Existing Santander UK customers will need to visit a branch to make the switch and get their switching bonus.
Customers who have already opted for a Santander switching bonus are not eligible for this £185 offer.
Santander last offered a switching bonus in January 2023, when customers were able to get £200 – so those who took out that deal won’t be able to benefit from 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 meets their everyday banking needs , but also provides additional ongoing value.
“Our new switching offering not only provides a quick boost to customers’ finances, but is also part of the broader value package we offer through our Edge accounts.”