Santander is offering new customers a £180 cash bonus for switching to its Edge current account, alongside ongoing cashback on household bills. The deal has been described as a 'strong pick' by Martin Lewis' MoneySavingExpert (MSE) team, particularly for households seeking upfront cash and long-term rewards.
New account holders can earn 1% cashback (up to £10 per month) on direct debits for council tax, energy, water, broadband, and TV bills. Over a year, this could total an extra £120. Additionally, customers can open an Edge Saver account with 6.00% AER interest on balances up to £4,000, including a 2.50% introductory bonus for the first year.
To qualify, applicants must be UK residents aged 18 to 73, and joint applicants must live at the same address. The switch must be made via the Current Account Switch Guarantee, with Santander handling the closure of the previous account. The bonus is paid 60 days after the switch, within 30 days of eligibility confirmation.
Exclusions apply: those who held a Santander account on January 1, 2025, or previously received a switch incentive are ineligible. Joint account holders receive only one payment. No firm deadline has been set, but the offer may be withdrawn at any time.
