High street banking giant Santander has issued an urgent message to customers, urging them to take advantage of a limited-time £200 cash bonus for switching their current account. The bank has clarified that the tempting incentive can be withdrawn at any moment, creating a pressing opportunity for those looking to boost their finances.
How to Secure Your £200 Switching Bonus
To qualify for the £200 payment, customers must act decisively. The entire process must be completed using the Current Account Switch Service (CASS) within 60 days of initiating the move. Santander has outlined three non-negotiable criteria that must be met to receive the money.
First, applicants must transfer their existing current account to an eligible Santander account before the promotion ends. Second, they need to deposit a minimum of £1,500 into the new account within the 60-day window. Finally, customers must establish and maintain at least two active Direct Debits for household bills on the account.
What Counts as a Qualifying Direct Debit?
Santander specifies that eligible household Direct Debits include essential outgoings. These encompass:
- Council tax payments
- Mobile, landline, broadband, and subscription TV bills
- Gas, electricity, and water utility bills
The bank has confirmed it will transfer the £200 bonus into the customer's eligible account within 90 days of the switch request, provided all terms are satisfied.
Important Exclusions and Eligible Accounts
Not everyone will be able to claim this incentive. Santander has stated that anyone who held a current account with them on 1 January 2025 is ineligible. Furthermore, customers who have previously received a Santander switcher incentive are also excluded from this offer.
The bonus applies to several of the bank's key current account products. These are the Everyday Current Account, the Santander Edge, Santander Edge Up, and Santander Edge Explorer current accounts, as well as the Private Current Account.
Anthony Warrington, Head of Current Accounts at Santander UK, linked the offer to the seasonal financial pressures many face. "Christmas is fast approaching, and we know that this time of year can really stretch people’s finances," he said. "This offer is our way of giving a little something back... It’s all about helping customers make their money go further and enjoy the festive season without the extra worry."
In communications to potential customers, Santander has highlighted the ease of moving income and regular payments via CASS, alongside the benefits of its award-winning Mobile Banking app. With the clock ticking on this promotion, customers are advised to move quickly if they wish to secure the £200 reward.
