Santander says ‘sorry’ as some customers won’t get free cash | Personal Finance | Finance
Santander has clarified who will and who will not get their hands on cash bonuses, with some banking customers set to nab a free £180. The financial giant launched its £180 current account switching offer for new and existing customers at the end of May, and there are certain criteria people will need to meet to get the money.
New and existing customers are eligible if they switch to a Santander Everyday, Edge, Edge Up, or Private current account. You’ll need to close and switch your current account using the Current Account Switch Service (CASS).
This is a free service which handily moves any balance, direct debits and payees to the new account – within seven days. New customers will need to pay at least £1,500 into their Santander account within 60 days of the switching request.
This can be done across multiple payments rather than needing to be done in one go, and new customers will also need to set up at least two active household direct debits within 60 days. However, on its website, Santander explains that some customers will not be eligible, even if they jump through the above hoops.
The banking giant says: “Sorry, we can’t offer this if you held a current account with Santander on 1 January 2025 or if you’ve previously received a Santander switcher incentive.”
Its advice adds: “Already have an eligible Santander account? Don’t worry you might still qualify for the incentive if you opened your account after 1 January 2025. We can switch a current account you hold at another bank to your existing Santander current account.”
Eligible customers who successfully complete the switch will see the £180 paid into their accounts within 90 days. Anthony Warrington, Head of Banking at Santander UK, said: “Summer is fast approaching, and many people will be saving up for the holidays – whether it be for that trip abroad, festival, or day out with the family.
“That’s why we’re pleased to be introducing our new £180 switcher incentive, providing even more value for customers making the move to Santander. It’s a simple, straightforward way to get rewarded for switching, while benefitting from our range of popular current accounts – making your money go that little bit further this summer.”
