Santander has relaunched its £240 switching offer for new and existing customers who move to its Everyday Current Account, a deal highlighted by money experts at Moneyfactscompare.co.uk as part of their Pick of the Week. The offer is subject to depositing at least £1,500 and meeting other eligibility criteria within 60 days.
Santander account's additional perks
The account also offers 0% on arranged overdrafts for switched accounts for the first four months, which Caitlyn Eastell, personal finance analyst at Moneyfactscompare.co.uk, said would be "particularly helpful for households as we come into the expensive Christmas and New Year period." However, after the four months, the rate on overdrafts rises to 39.49% EAR. The account earns an Excellent Moneyfacts product rating.
Other deals highlighted this week
Alongside the Santander account, Moneyfactscompare.co.uk also highlighted the Afin Bank One-Year Fixed Term Account (Issue 8), which now pays an attractive 5.15% interest rate, making it market-leading. The account requires at least a £1,000 deposit, with further additions permitted for 14 days via a nominated account. Withdrawals are not permitted, so savers should be comfortable locking their money away for the full term.
The Castle Trust Bank Two-Year Fixed Rate e-Cash ISA was also chosen, now paying a joint market-leading rate at 5.10%. Savers need to invest at least £1,000, and if the minimum investment is not met within 14 days, their balance will be refunded with no interest paid. Further additions are permitted for 14 days, with investments up to £500,000. Early withdrawals could face a 180-day loss of interest penalty and closure of the account.
In credit cards, the Barclaycard – Platinum 35 Month Balance Transfer Visa was selected, offering a 0% introductory balance transfer term of 35 months and three months 0% on purchases. The purchase APR rises to 24.9% thereafter. Borrowers can also receive lifestyle perks, including exclusive presale tickets on selected festivals with 10% off ticket prices and up to 15% cashback from selected retailers with Barclaycard Cashback Rewards. The card earns an Excellent Moneyfacts product rating.
