Penalites for leaving Santander shortly after collecting my £100??

liamb_2

Sorry if this has been asked before, but I was wondering if there were any tie in period once you have collected your new bank account bonus from Santander. I opened my account in February and duly received my £100 in April, but am of a mind to move again to Halifax and collect another hundred quid as long as there are no penalties if I do. Is there any reason why I should not do this, apart from the hassle involved?

rb10

Once you have it, it's yours.

Just be aware that some Santander accounts have minimum funding requirements (i.e. you have to pay in a certain amount each month, otherwise you'll be charged). Check the T&Cs to see if it applies to your account, and, if so, then make a manual transfer of the required amount once your salary has been switched to Halifax.

exel1966

There are no penalties, you're free to close the account at anytime, but if you leave the account open (dormant) see above.

liamb_2

Thanks very much both of you, your help is much appreciated.

tommytiger1985

100% fine to leave Santander now you've had the £100 incentive. I've just done the same thing to Halifax myself

ffacoffipawb

tommytiger1985 wrote: »

100% fine to leave Santander now you've had the £100 incentive. I've just done the same thing to Halifax myself

He means fine like 'OK', not fine like 'fine'