Santander is offering a £180 switching incentive to new customers who open an Edge current account, with Money Saving Expert (MSE) describing the deal as a 'strong pick' for many households.
What is the Santander switch offer?
Banks often provide switching incentives, typically in the form of cash bonuses, enhanced savings rates, or other benefits to encourage you to open an account and move away from a competitor. Currently, many UK banks offer such switches, with Santander offering £180 in cash along with other perks. However, it is crucial to read the eligibility criteria carefully, as missing even a single requirement could mean you do not receive the bonus.
Santander, which has 14 million active UK customers, cautions that anyone looking to join must be sure they tick all the boxes. The bank states: 'We cannot offer this if you held a current account with Santander on January 1, 2025, or if you have previously received a Santander switcher incentive.'
If you want to get the cash, you need to act fast. The bank notes that the 'offer may end at any time' and 'terms and conditions apply.'
How can I get the £180 switch bonus?
You can switch to a Santander Edge current account to receive the cash bonus. To qualify, you must pay a £3 monthly fee, deposit at least £500 each month, and have two active Direct Debits. In addition, you can get an extra £180 when you switch.
If you follow all the rules, the bank confirms: '90 days after your request to switch, if you meet eligibility criteria, you will receive your £180.'
The reason people may want to consider switching to a fee-based account is that customers get:
- 1% cashback (up to £10 a month) on selected household bills when paid by Direct Debit
- No charges for using your Santander Edge debit card outside the UK
- Arranged overdraft for short-term borrowing, subject to status
Money Saving Expert notes that this account is 'a strong pick if you want upfront cash and ongoing bills cashback – especially for households.' It adds: 'This option pays 1% cashback (max £10/month) on Council Tax, energy, water, mobile & home phone, broadband & paid TV bills you pay by Direct Debit. There is also a 6% linked saver on up to £4,000 for a year (maxed out that is ~£240 interest), and no fees on spending abroad, so it doubles as a decent travel debit card.'
To get the cash, the bank explains: 'Get a £180 welcome when you switch your current account using the Current Account Switch Service.' Follow the rules below:
- Open a Santander Edge current account.
- Request a switch before the offer is removed. Ensure the details you give are correct and match those at your old bank.
- Complete the switch within 60 days of your request, have at least 2 active selected household Direct Debits, and pay in £1,500.
The eligible Direct Debits include providers such as Vodafone, O2, Sky, EE, Octopus, Ovo Energy, Scottish Power, British Gas, Yorkshire Water, Affinity Water, Three, Tesco Mobile, and more. You can check the full list on the Santander website.
For all the details and up-to-date information, visit the official Santander UK website.
