Santander has become the latest bank to offer a £175 bank switching offer on their current accounts, joining First Direct, which relaunched its incentive this month.
The Santander switch is open to both new and existing Santander customers and those eligible for the payment will get paid within 90 days of starting the switch process.
To qualify for the Santander incentive you must:
- Complete the full switch within 60 days of requesting the switch process;
- Pay in at least £1,500 within 60 days of requesting the switch;
- Set up two active direct debits within 60 days;
- Continue to hold the qualifying current account on the day the payment is made.
New customers can switch to a current account online through the Santander website or in branch.
But existing Santander customers must visit a branch to take advantage of this offer.
To qualify for the First Direct incentive you must:
- Go through the full Current Account Switch Service (Cass) process;
- Transfer a £1,000 balance into the account;
- Switch at least two regular payments;
- Use their debit card at least five times within 30 days of the account opening.