Santander to give these customers £100 or £150 for free | Personal Finance | Finance

Santander has announced that certain customers may receive up to £150 paid directly into their bank accounts.

The high street banking giant has been sending out emails this week, detailing exactly who qualifies for the cash boost and whether they will receive £100 or the full £150 upon completing specific actions.

Part of the messages read: “Maybe you’re buying a house, doing some home improvements, getting married soon, or you’ve just welcomed a new arrival. It’s important as your life changes, so does your life insurance policy.”

Santander went on to clarify that its life insurance products are provided by Aviva, the UK’s largest insurer, and that monthly premiums will not rise after a policy is taken out.

The bank also highlighted that some 98.8% of Aviva life insurance claims were paid out in 2024.

The banking giant is now offering a free £100 cashback reward to customers who take out a new life insurance policy.

Those who hold a Santander mortgage, a Select account, or a current account within the Santander Edge range will qualify for an even more generous £150 cashback instead.

The funds are deposited straight into your account, meaning there is no need to make a claim.

Santander confirmed that terms and conditions apply and that the offer may be withdrawn at any point.

Customers will receive the free cash 280 days after the policy is taken out, provided it has not been cancelled in the meantime.