In a surprising move, high street bank Santander is now offering a £100 Amazon voucher to customers who open a new current account, marking a significant shift from its previous incentive strategy.
The Unexpected Offer Details
The team at Money Saving Expert, founded by Martin Lewis, expressed surprise at the launch, particularly since Santander had recently discontinued its £30 voucher offer. "It's clearly still looking for more customers," MSE noted, "as now just days later it's back with a new and improved offer."
To qualify for the £100 bonus, applicants must open a new Santander current account—available to both new and existing customers—through special links on comparison sites. The key requirement is to make 30 debit card transactions within 60 days of account opening. Customers can claim their Amazon voucher from 12 February 2026, with a maximum of one voucher per person. A credit check will be performed during the application process.
How This Offer Differs From Traditional Bank Switches
Alastair Douglas, CEO of TotallyMoney, highlighted the unique nature of this promotion. "Unlike the usual incentives, you won't need to shut down your old account, or use the Current Account Switch Service," he explained. The qualifying transactions can include contactless payments, physical purchases, and online shopping, meaning customers might only need to change the card they use for everyday spending.
The offer applies to Santander's Everyday, Edge, Edge Up, and Edge Explorer accounts. However, potential applicants should note that only the Everyday account is free, while the other options carry monthly fees of up to £17. The paid accounts do offer additional benefits including cashback, insurance, and exclusive savings rates.
Important Considerations and Alternatives
This offer is not available directly through Santander and can only be accessed via aggregators and comparison websites. Financial experts remind consumers that loyalty doesn't always pay in banking, with seven other banks currently offering switching bonuses of up to £200. Beyond immediate cash incentives, changing accounts can also provide access to better service, interest-free overdrafts, and improved savings rates.
Customers interested in this offer should carefully consider whether a paid account's additional benefits justify the monthly fee, or if the free Everyday account better suits their financial needs while still qualifying for the £100 voucher reward.
