Santander will check customer account details and payments on a specific date, with several key dates and timeframes to note. Customers need to have everything correct for the inspection to qualify for a bonus payment.
The bank is offering a £240 payment to select customers who switch from another bank to its Everyday Current Account. Similar offers are available from Barclays, Nationwide, HSBC, and The Co-operative Bank.
60-day rule for the bonus
To secure the cash payment, customers must complete several steps within 60 days. These include completing a full switch via the Current Account Switch Service, including the closure of the old bank account.
Customers must also pay at least £1,500 into their current account, either in one or multiple payments, and deposit a minimum of £200 into a Santander Regular Saver. This can be into a new account or a previous regular saver held.
Direct debits and account requirements
At least two active direct debits for household bills must be linked to the new Everyday Current Account. These direct debits must still be active on the day Santander checks the account.
Customers must hold both an open Santander Everyday Current Account and an open Santander Regular Saver in their name. Closing either account prior to payment will disqualify them.
Key dates and payment details
Guidance from Santander explains: "We'll check your Santander account 60 days after the switch has been instructed. If you qualify, we'll make the switcher offer payment to you within 30 days following our decision."
The offer runs from September 1 to October 7, so requests must be made by the October deadline. Anyone who previously held a Santander current account on January 1, 2026, will not qualify.
The payment will be issued directly into the Santander account. Santander advises customers: "We'll make one payment into your Santander account. You and any joint account holder(s) won't be entitled to more than one payment between you."
