Santander switching offer: £180 cash plus £45 Amazon voucher
Martin Lewis, founder of Money Saving Expert, has highlighted a lucrative bank switching deal that could net customers up to £225. By moving to a Santander Edge account, switchers can receive a £180 cash bonus and a £45 Amazon voucher, plus ongoing benefits like cashback on bills.
The financial journalist explained in his newsletter that the Santander Edge account offers a £180 upfront payment for switching, along with a £45 Amazon gift card. Additionally, account holders get 1% cashback on household bills, a 6% easy-access savings rate, and favorable exchange rates for overseas spending.
Monthly fee and perks
However, the account comes with a £3 monthly fee. For this charge, customers receive:
- 1% cashback (up to £10/month) on Council Tax, energy, water, mobile, home phone, broadband, and paid TV bills paid by Direct Debit.
- A linked savings account paying 6% variable interest for a year on balances up to £4,000.
- A top debit card for overseas spending with near-perfect exchange rates.
- An 8% variable regular saver allowing up to £200/month for a year.
Alternative accounts with different bonuses
For those opting for the Santander Edge Up (£17/month) or Everyday accounts, the sign-up cash bonus still applies. The Edge Up account offers a £150 hotel voucher instead of the £45 Amazon voucher.
Eligibility and terms
To receive the £180 bonus, you must open a Santander Edge account online or in-branch within 60 days, complete a full switch (transferring an existing account), pay in at least £1,500, and set up two active household Direct Debits (e.g., Council Tax, energy). The £180 is paid within 60 to 90 days.
For the Amazon voucher, you must be accepted for and activate a Santander Edge, Edge Up, or Everyday Current Account, complete the full switch with two Direct Debits and a £1,500 deposit within 60 days, open a Santander Regular Saver, and fund it with £200 within 30 days. The voucher link is emailed after September 30 and must be claimed within 30 days.
