£160 cashback for Santander Switch for new and existing customers

soulsaver

Deleted_User said:

I changed to Santander years ago when it was still doing the 123 account with 3% interest (around 2014/15 time as I was storing my car PCP money to earn interest), I don't remember them having a switch bonus however, can anyone confirm? I was planning a move to Nationwide for the £125 having setup a donor account and a couple of DDs but this is obviously more appealing.

If you're setting up donor accounts, do Nationwide AND Santander..
DDs a problem? Dig around on MSE for plenty suggestions.

soulsaver

And note Santander have not been great at spotting rule breakers... so if it's a while since, I'd give it a go.

soulsaver

trickydicky14 said:

Good point and having to go in branch if you already have an account, that's a pain in the butt.

So open a new Everyday current account and switch to that...

[Deleted User]

changearound1 said:

Deleted_User said:

I changed to Santander years ago when it was still doing the 123 account with 3% interest (around 2014/15 time as I was storing my car PCP money to earn interest), I don't remember them having a switch bonus however, can anyone confirm? I was planning a move to Nationwide for the £125 having setup a donor account and a couple of DDs but this is obviously more appealing.

I'm pretty sure Santander didn't have a switch offer around 2014/15. The first one I can remember was a Refer A Friend scheme in 2019 when £50 Amazon vouchers were up for grabs.

Then in November 2021 they had a practically identical version of the current offer. This has been rehashed at least twice now.

If I were you I would do the Nationwide offer first, then switch NW to  Santander. The NW offer has been running for a while and could get pulled whereas the Santander offer has only just been launched. Also NW pays out  pretty quickly so you'd be good to start the Santander switch later on this month.

I will have a quick look thanks, I have an old savings account from NW that I had the sense to leave open (52p in it!) so qualify for the £125, setup a Starling account, moved an old credit card DD over that I rarely use and setup a saver with Ecology for the DD, soon as it's in place I will do the switch. I will double check the terms to make sure I can jump ship again else I will just do a new account and move the DDs over

[Deleted User]

soulsaver said:

Deleted_User said:

I changed to Santander years ago when it was still doing the 123 account with 3% interest (around 2014/15 time as I was storing my car PCP money to earn interest), I don't remember them having a switch bonus however, can anyone confirm? I was planning a move to Nationwide for the £125 having setup a donor account and a couple of DDs but this is obviously more appealing.

If you're setting up donor accounts, do Nationwide AND Santander..
DDs a problem? Dig around on MSE for plenty suggestions.

I did find Ecology account but I didn't see many useful ones that don't need to waste cash, I have maybe a couple of spare DD knocking around I can probably chuck - my phone and pet insurance aren't huge and can be on another account if I can put the cash in and move them back later - wasn't clear if I can move, get the bonus and then remove the DD again - bit busy to read the Ts & Cs at work so being lazy and asking here

danlightbulb

Hi all. I have never had a Santander switch bonus but have had a current account with them for many years, but it's not a 123-lite account.

What would the procedure be for me to open this new 123-lite account and get the switch bonus? I have a current account elsewhere that I can switch.

Daliah

danlightbulb said:

Hi all. I have never had a Santander switch bonus but have had a current account with them for many years, but it's not a 123-lite account.

What would the procedure be for me to open this new 123-lite account and get the switch bonus? I have a current account elsewhere that I can switch.

You don't say what current account you have, but chances are you have one that qualifies as all these do, as per the OP: 1|2|3 Current Account, 1|2|3 Lite Current Account, Everyday Current Account, Select Current Account, Private Current Account

It would most likely be easier to open a new account, 123 Lite or another one from the list, and request the switch as part of the application process. This would eliminate the need for going into a Branch (with prior appointment?) to trigger the switch. But be careful - I would normally never advocate a switch request before you haven't got full access to the new account, as it might leave you without access to money. If it's a spare account you are switching, that risk is minimal.

As for how you apply: log into online banking and you see the "Apply" options on the right.

danlightbulb

Daliah said:

danlightbulb said:

Hi all. I have never had a Santander switch bonus but have had a current account with them for many years, but it's not a 123-lite account.

What would the procedure be for me to open this new 123-lite account and get the switch bonus? I have a current account elsewhere that I can switch.

You don't say what current account you have, but chances are you have one that qualifies as all these do, as per the OP: 1|2|3 Current Account, 1|2|3 Lite Current Account, Everyday Current Account, Select Current Account, Private Current Account

It would most likely be easier to open a new account, 123 Lite or another one from the list, and request the switch as part of the application process. This would eliminate the need for going into a Branch (with prior appointment?) to trigger the switch. But be careful - I would normally never advocate a switch request before you haven't got full access to the new account, as it might leave you without access to money. If it's a spare account you are switching, that risk is minimal.

As for how you apply: log into online banking and you see the "Apply" options on the right.

I went online and there was an option to swap my existing account (everyday current account) to a 123-lite account, so I've gone for that option. So once I've converted the account to the new one I can then initiate the switch I think. Hoping it can be done over the phone.

Daliah

danlightbulb said:

Daliah said:

danlightbulb said:

Hi all. I have never had a Santander switch bonus but have had a current account with them for many years, but it's not a 123-lite account.

What would the procedure be for me to open this new 123-lite account and get the switch bonus? I have a current account elsewhere that I can switch.

You don't say what current account you have, but chances are you have one that qualifies as all these do, as per the OP: 1|2|3 Current Account, 1|2|3 Lite Current Account, Everyday Current Account, Select Current Account, Private Current Account

It would most likely be easier to open a new account, 123 Lite or another one from the list, and request the switch as part of the application process. This would eliminate the need for going into a Branch (with prior appointment?) to trigger the switch. But be careful - I would normally never advocate a switch request before you haven't got full access to the new account, as it might leave you without access to money. If it's a spare account you are switching, that risk is minimal.

As for how you apply: log into online banking and you see the "Apply" options on the right.

I went online and there was an option to swap my existing account (everyday current account) to a 123-lite account, so I've gone for that option. So once I've converted the account to the new one I can then initiate the switch I think. Hoping it can be done over the phone.

Not sure why you did that, as switches into the Everyday current account also qualify for the bonus.

Although, if you have DDs which yield more than £2 cashback a month, the 123 Lite is an attractive account.

Racxie

I'm debating whether to switch to the Everyday Current Account with Santader for the £160 or go with Halifax for the £150.

123 would be pointless for me as I only have a phone bill, and I rarely if ever spend £500 in a month nor do I tend to hold that much cash (£5k) in my account as it's generally better served elsewhere e.g. stocks, but on the off-chance I did spend at least £500 on two months it'd equal Santader's offering and potentially more if I did that multiple times.

Would it possibly be worth me trying to switch Halifax, get the bonus, then switch to Santander after a month or two? or visa versa? Or just switch & stick with one for now? Was wondering what people's thoughts are.