Santander customers will be handed a cool free £390 each if they maximise the terms and conditions behind one account. The Santander Edge account will pay customers £150 to switch, then also offers 1 per cent cashback on bills, up to £10 a month.
It also offers 1 per cent cashback on essential everyday spending. It means customers could get another £240 by maxxing out the bills and spending cashback over the course of a year for a total of £390 – including the £150 switch incentive.
Existing Santander Edge current account, Santander Edge Up current account, Everyday current account and Private current account (v2) customers, can use the current account switch service (CASS) to transfer their balances and direct debits from bank accounts with other providers into their existing Santander current account to benefit from the offer.
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Current Account Switch Service (CASS) makes switching simple, by transferring the existing current account balance, and all direct debits, standing orders and salary commitments, within seven days. The £150 switching offer is for a limited time period and can be withdrawn at any time.
Santander assesses whether a customer has achieved eligibility for the offer 60 days after the switch through CASS has been requested. If eligible, the £150 payment is then made within 30 days after that assessment. As of last year, the bank had around 19,400 employees and serves around 14 million active customers, 7 million digital customers via a nationwide 444 branch network, telephone, mobile and online banking.
The bank – which is rivalled by the likes of NatWest, Nationwide, HSBC UK and more – is subject to the full supervision of the FCA and the PRA in the UK. Santander customers’ eligible deposits are protected by the FSCS in the UK, the bank goes on to also add to its customer base.