People have just days to act if they want to open a bank account that may help homeowners "easily profit" every month, with a free money bonus of up to £225.
Santander's latest switch offer includes £180 for those eligible for the standard switch bonus, plus a £45 Amazon voucher, bringing total rewards to £225.
The Offer Details
In Martin Lewis' weekly email to MoneySavingExpert fans, he said: "Santander Edge newbies switching to it get the normal £180 cash plus a £45 Amazon voucher. It's the top account for bills, as while you pay a £3/mth fee, it gives 1% cashback on household bills paid by Direct Debit."
To earn the maximum monthly cashback (capped at £10 per month) on household bills, customers would need to pay exactly £1,000 in qualifying bills each month. These include council tax, gas and electricity, water, mobile and home phone, broadband and paid-for TV packages.
The £10 'profit' drops to £7 after the £3 monthly fee. If households consistently saved this extra money, it would work out to almost £85 extra a year. Martin added that, because the majority of homes would be paying these anyway, "most homes [would] easily profit" from holding such an account.
Eligibility and Requirements
To receive the cashback rewards, account holders must: pay a £3 monthly fee, deposit at least £500 into the account each month, and maintain at least two active Direct Debits. For the bonus and Amazon gift card, new customers must pay in at least £1,500 within 60 days of opening the account online or in a branch.
The Amazon offer, which expires on Friday, July 31 at 2pm, also requires customers to open the 8% regular saver and deposit £200 within 30 days. Those who meet the criteria will receive an email with a link to claim the voucher.
How to Apply
To lock in the incentive, you must formally submit your application and request the switch via the Current Account Switch Service (CASS) before the deadline. As long as your application is submitted on time, you remain eligible for the payout, even if the actual 60-day switching process completes in August or September.
