Santander has confirmed that it will be ending its £175 switcher offer today, with switch requests accepted until 23:59 20 June 2024. The bank has seen strong demand in switching requests since the switcher offer was launched on 14 May 2024.

Santander has been offering £175 to both new and existing customers1 when they switch2 their current account to either a Santander Edge current account, Santander Edge Up current account, or Private current account v2.

Applications received to switch accounts to Santander before the deadline will be eligible for the switcher incentive, even if the switch completes after the offer is withdrawn. To qualify for the £175 payment customers must:

  • Complete the full switch, using the Current Account Switch Service (CASS), within 60 days of requesting the switch process (including the closure of the old account).
  • Pay in at least £1,500 within 60 days of requesting the switch process. (This does not need to be in one payment).
  • Set up two active direct debits within 60 days. Direct debits to fund Santander, cahoot, or Cater Allen savings accounts do not count for the purposes of this offer.
  • Continue to hold the qualifying current account on the day the payment is made.
  • Customers who have previously benefited from a Santander switcher incentive are not eligible for this latest offer.

Those eligible for the payment will get paid within 90 days of the switch process3.

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The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors

  1. Existing Santander Edge current account, Santander Edge Up current account, and Private current account customers, can also use the Current Account Switch Service (CASS) to transfer their balances and direct debits from bank accounts with other providers into their existing Santander current account to benefit from the offer.
  2. Current Account Switch Service (CASS) makes switching simple, by transferring the existing current account balance, and all direct debits, standing orders and salary commitments, within seven days. The £175 switching offer was always for a limited time period.
  3. Santander assesses whether a customer has achieved eligibility for the offer 60 days after the switch through CASS has been instructed. If eligible, the £175 payment is then made within 30 days after that assessment. 

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2023, the bank had around 19,800 employees and serves around 14 million active customers, 7 million digital customers via a nationwide 444 branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.

Banco Santander (SAN SM, STD US, BNC LN) is a leading commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2023, Banco Santander had €1.3 trillion in total funds, 165 million customers, 8,500 branches and over 212,000 employees.