Santander is offering customers a £240 cash boost for switching to its Everyday Current Account, with the bonus potentially arriving as early as January for those who act now.
The offer requires customers to open an Everyday Current Account and request a switch via the Current Account Switch Service (CASS). Details provided to Santander must match those at the old bank, and any updates should be made before the switch.
Qualifying conditions
Customers must complete the switch within 60 days of the request, have at least two qualifying household Direct Debits, and pay in £1,500 into the Everyday Current Account. Within 60 days of the switch request, they must also pay at least £200 into a Santander Regular Saver held in their name, either by opening a new one or using an existing account.
If all conditions are met, the bonus is paid out within 90 days of the switch. Santander provides detailed instructions on its website for customers seeking the reward.
Other offers on the market
Santander's deal is one of several switching offers available. Moneyfactscompare.co.uk highlighted Barclays' current account switching rewards as among the best, worth as much as £300.
To get the first £150 of the Barclays offer, customers need to open a Bank Account via the Barclays Bank mobile app, then use CASS to move their existing current account, transferring a minimum of three active direct debits. They must pay in at least £2,000 in salary within 30 days of opening it and make at least 10 debit card transactions, with the £150 bonus paid within 28 working days of meeting these requirements.
A further £150 is available in £30 payments over the following five months, provided customers continue to have £2,000 or more in salary paid in monthly and make a minimum of 10 debit card payments monthly.
Moneyfactscompare.co.uk advises people to check the rules carefully, as offers could be withdrawn at any time.
