Santander Bank to Discontinue £150 Incentive for Switching Banks Starting This Week
Santander's Bank Account Switch Deal Ends Soon: Here's All You Need to Know
Santander is closing its current account switching deal worth £180 on 5th February. To secure this offer, you need to send a switch request to the bank by the deadline and complete the process within 60 days.
Don't Miss Out!
Those who wish to capitalize on the offer have until 23:59 on Wednesday to make their move. If you miss the deadline, you'll lose out on the £180 deal. However, you can still make some cash when switching your bank account by taking advantage of the best bank switching offers available.
Claiming Santander's £180 Switcher Deal
To qualify for Santander's £180 switcher deal, switch your current account to either a Santander Edge, Santander Edge Up, Everyday, or Private current account v2. Even if you're an existing Santander customer with a different account, you can still claim the £180 by switching to one of the listed options.
To qualify:
- Complete the full switch within 60 days of the initial switch request, including the closure of the old account
- Pay in at least £1,500 within 60 days of the switch request
- Set up two active direct debits within 60 days
- Continue to hold the qualifying current account on the day the payment is made
Previously benefited customers are not eligible for this offer. Payments will be made within 90 days of the switch process.
Benefits of Switching to a Santander Edge Account
Beyond the £180 switching bonus, there are several reasons to consider changing to a Santander Edge account:
- Cashback on Bills: The account provides 1% cashback on eligible household bills paid using a direct debit up to £10 a month. Supermarket cashback is also available, again up to £10 a month.
- Exclusive Edge Saver Account: Holding an Edge account grants you access to the Edge Saver account, which offers 6.00% interest on balances up to £4,000 (subject to current rates).
- Cashback Boost: Maximizing Santander's cashback offers could give you up to £240 extra a year, but you have to pay £3 per month to keep the account active.
For a list of other high-interest savings options, check out our website for the best savings accounts available.
Enrichment Insights
In June 2025, Santander's switching offers will be slightly different compared to previous years. The current active incentive is a £180 cash reward for eligible new customers who switch to an eligible Santander current account. Note that several rules apply to qualify for the offer, and it is essential to complete the full switch, including closing your old account, within 60 days. The £180 payment will be made within 90 days of starting the switch process. The Santander Edge account offers cashback on eligible household bills and supermarket spending, but the specific rates and conditions may change. Always confirm the most up-to-date benefits and rates with Santander directly.
To take advantage of the impending closure of Santander's £180 account switching deal, individuals should submit their switch request by the deadline of 5th February and complete the process within 60 days. In addition, switching to a Santander Edge, Santander Edge Up, Everyday, or Private current account v2 may result in extra savings, with benefits like cashback on bills and exclusive access to high-interest Edge Saver accounts.
