Santander Launches £200 Switching Bonus for New and Existing Customers
A major high street bank is giving customers a welcome financial boost ahead of the festive season. Santander UK has announced a new current account switch deal that provides a £200 cash incentive, alongside a valuable membership perk.
What's Included in the Offer?
The offer is twofold. Customers who complete a switch via the Current Account Switch Service (CASS) to an eligible Santander account will receive the £200 free payment. Additionally, they can obtain a 12-month Kids Pass membership, which is valued at £39.99, by opening a Santander savings account or cash ISA.
This deal is available to both new and existing Santander customers, provided they are switching from an external provider. The eligible destination accounts are the Santander Everyday, Edge, Edge Up, Edge Explorer, or Private current accounts.
Eligibility and Important Exclusions
To qualify for the £200, you must be a UK resident and switch from a bank that is not Santander, cahoot, or Cater Allen. There are crucial exclusions to note. You will not be eligible if anyone named on the new account held a Santander current account on January 1, 2025. The offer is also unavailable to anyone who has previously received a switch incentive from Santander.
Anthony Warrington, head of current accounts at Santander UK, commented on the timing: "Christmas is fast approaching, and we know that this time of year can really stretch people's finances, with shopping, social plans and rising household costs all adding up." This offer is clearly positioned to provide some relief during a period of high expenditure for many families.
This banking promotion follows recent announcements from other high street lenders. Both HSBC and TSB have confirmed mortgage rate cuts, indicating a competitive period for financial institutions as they vie for new customers.
