Santander has launched a compelling new offer, promising to pay £200 in free cash to customers who make the move to bank with them. The financial giant is specifically targeting individuals who already have a relationship with Santander but do not currently use it for their primary banking needs.
How to Claim Your £200 Santander Bonus
To get your hands on the money, you must complete four key actions using the Current Account Switch Service (CASS). The process is designed to be seamless, transferring all your incoming and outgoing payments automatically from your old provider.
Firstly, you must apply to switch your current account to a Santander current account before the promotion ends. Secondly, you need to finalise the complete transfer within 60 days of your application.
The final two requirements involve funding and activity on the new account. You are required to deposit a minimum of £1,500 into the account within the same 60-day window. Furthermore, you must maintain at least two active household Direct Debits on the account.
What Qualifies as a Household Direct Debit?
Santander has provided clear guidance on what it considers an eligible household Direct Debit. The list includes essential outgoings such as:
- Council Tax
- Gas and electricity bills
- Water charges
- Mobile and landline phone bills
- Broadband and subscription TV services
Once you have successfully met all the conditions, Santander has confirmed it will transfer the £200 into your eligible account within 90 days of your switch request.
Who is Eligible for the Payment?
This offer is available on several of Santander's accounts, including the Everyday Current Account, Santander Edge, Santander Edge Up, Santander Edge Explorer, and the Private Current Account.
However, there are important exclusions. You will not qualify for the bonus if you held a Santander current account on January 1 of this year, or if you have previously claimed a Santander switcher incentive. The bank has also warned that it may withdraw the offer at any time, so interested customers are encouraged to act promptly. As with all promotions, terms and conditions apply.
