Switching offer with Santander

fly-catchers

I opened up an account with Santander 123lite on the 20th September using the switching offer. One of the conditions for the £175 offer is to pay in £1000. Is it like other banks where once you have paid it in you can take it out again straightaway or do you need to leave it in for a period? My guess is you can remove it. 

RacingDriver

If the terms do not say anything about leaving it in, then you can remove it straight away.

[Deleted User]

You can pay it in, withdraw it or spend it. A "genuine" current account would have money going out weekly anyway for bills etc

I am awaiting for the 2 DD to pull and then stick the £1000 in but not rushing as they say it'll take up to 60 days anyway and then 30 days to pay

Indout96

Mine & Mrs Indout96 were both in and back out within 2 minutes each 

jbmlight

Has anybody been paid the £175 joining incentive yet?  I keep checking my online account daily but nothing.
I have met all the criteria so just wondered if anybody had been paid yet?

soulsaver

jbmlight said:

Has anybody been paid the £175 joining incentive yet?  I keep checking my online account daily but nothing.
I have met all the criteria so just wondered if anybody had been paid yet?

Probably not, if you read the bit in the terms that tells you when you can reasonably expect to get the incentive...

[Deleted User]

jbmlight said:

Has anybody been paid the £175 joining incentive yet?  I keep checking my online account daily but nothing.
I have met all the criteria so just wondered if anybody had been paid yet?

The terms are very clear - 60 days assessment then pay within 30 days. Given the switch launch date it's unlikely anyone will get it for another month or 6 weeks

homemover2020

I started my switch on 5th August and my incentive has been paid this morning. 

Astria

homemover2020 said:

I started my switch on 5th August and my incentive has been paid this morning. 

So maybe it's not 60 assessment then but 60 days to qualify, hence you get your money in about 53 days.

oldagetraveller1

I switched for the previous £160 offer.

In the conditions it states to expect the £160 within 90 days after applying to switch.

60 days after the switch to assess eligibilty and 30 days after that to receive.

I need to check when I switched, I'm sure the 90 days isn't far away and I'm 99.99999% sure I qualify. There's always that worrying 0.000001% doubt though!

Edit to add, like homemover2020, my switch application was 5th Aug. and after just checking my account, the £160 has been credited today.

homemover2020

oldagetraveller1 said:

Edit to add, like homemover2020, my switch application was 5th Aug. and after just checking my account, the £160 has been credited today.

Yes, a lot quicker than expected...the 60 days isn't even up yet. Happy days!