Santander to pay customers up to £150 – who is eligible | Personal Finance | Finance

Santander has informed customers they could receive up to £150 deposited directly into their bank accounts.

The high street bank has distributed emails this week, explaining who is eligible and whether recipients will get £100 or the maximum £150 when specific requirements are met.

Part of the emails reads: “You’ve got a lot on your plate – work, family, life. But some things are worth taking a moment for. With Santander life insurance, protecting your loved ones is simple. You can get a quote online in just a few minutes.”

Santander has confirmed that once a policy is arranged, monthly premiums will remain fixed. The life insurance is provided through Aviva, Britain’s largest insurer, which reported that 99.8% of Aviva life insurance claims were settled in 2024.

New life insurance policyholders will receive £100 cashback.

However, Santander mortgage holders, Select customers, or those with a current account from the Santander Edge range will be entitled to £150.

The funds are transferred straight into your account without requiring a claim. Santander noted that terms and conditions apply, and the promotion may be withdrawn at any time.

Cashback is credited to your account 280 days following policy commencement, provided it remains active. The cashback is limited to one payment per customer and applies to a single policy only.

Santander emphasised that quotes can be generated online in minutes.