Santander £200 bonus explained and four things you must do | Personal Finance | Finance
Santander has said it will provide free £200 payments to banking customers who complete four specific requirements. The financial institution has contacted individuals who bank with Santander but do not currently hold a current account with them.
Part of the emails read: “It’s never been easier to move your income, Direct Debits, and standing orders from your old bank to us. Plus, when you get a current account with us, you can make use of our award-winning Mobile Banking app.”
Santander confirmed it will “transfer £200 into your eligible account within 90 days of your request to switch when you use the Current Account Switch Service [CASS].”
But who qualifies for the payment, and what steps must be taken?
Santander bonus requirements – four steps to follow
- Request to transfer your current account to a Santander current account before the promotion ends, utilising the CASS
- Complete the entire switch within 60 days
- Deposit at least £1,500 into the account within 60 days
- Maintain at least two active household Direct Debits on the account within 60 days
Household Direct Debits encompass council tax payments, mobile and landline phone bills, broadband and subscription TV services, gas and electricity bills, and water bills, according to Santander.
Anyone who had a current account with Santander on January 1, 2025, or who has previously claimed a Santander switcher incentive, will not qualify for the switching bonus.
The bonus is applicable to the Everyday Current Account, Santander Edge current account, Santander Edge Up current account, Santander Edge Explorer current account and Private Current Account.
The offer may be withdrawn at any time, and terms and conditions apply.
