New Santander £200 Switch Offer - January 2023

huw01

I can appreciate that not all of their customers will have a favourable experience, but as I have said on another forum , I have been with them donkeys years and have never had a problem with them. Select 123 account, regular saver, the 2.7% e-saver and a credit card. 

Not once have I encountered any problems with them, I switched an old account into my current account in 2020 and got the £135 incentive they were offering at that point in time,

When my father passed away and I was the executor I have to say they really were the best institution I dealt with whilst administering the estate, He had a few savings accounts with them from Abbey National days, they were far superior in my dealings with them than with Barclays (where he had his current account). So personally I can only recommend them

Bojax

Does anybody know if a weekly Plum Direct Debit paying out would satisfy the requirements for this?  Or would it need to be Plum + someone else?

jungleboy123

Well, there is a clause in here. Seems to be targetting people like myself who switch regularly.

"We reserve the right to not make any cashback payment where we suspect or are made aware that the switcher offer is being abused. For example by closing an existing current account in 
order to switch back to us to receive the cashback payment."

Guess its not worth the hassle, or is it?

FFHillbilly

jungleboy123 said:

Well, there is a clause in here. Seems to be targetting people like myself who switch regularly.

"We reserve the right to not make any cashback payment where we suspect or are made aware that the switcher offer is being abused. For example by closing an existing current account in 
order to switch back to us to receive the cashback payment."

Guess its not worth the hassle, or is it?

that clause was in the last offer they did in 2021 an me and my family all switched to Santander, and as soon as the bonus arrived the account was downgraded to avoid the 123 fee, and then very shortly after switched to other accounts and nothing bad happened. 
I too have banked with Santander since 2014 and I'd recommend them

Chaoscontrol

FFHillbilly said:

jungleboy123 said:

Well, there is a clause in here. Seems to be targetting people like myself who switch regularly.

"We reserve the right to not make any cashback payment where we suspect or are made aware that the switcher offer is being abused. For example by closing an existing current account in 
order to switch back to us to receive the cashback payment."

Guess its not worth the hassle, or is it?

that clause was in the last offer they did in 2021 an me and my family all switched to Santander, and as soon as the bonus arrived the account was downgraded to avoid the 123 fee, and then very shortly after switched to other accounts and nothing bad happened. 
I too have banked with Santander since 2014 and I'd recommend them

This was exactly my worry, and thanks for sharing your exp. I will take the chance. It's my 6th or 7th switch in the last month. Lloyds will ban me for opening burner accounts. 

Expotter

I have a 123 Lite account with Santander, if I change it to an Edge account will I still be eligible for the £200 if I switch an account from a different bank into it? I've never received any incentives from Santander

flaneurs_lobster

Expotter said:

I have a 123 Lite account with Santander, if I change it to an Edge account will I still be eligible for the £200 if I switch an account from a different bank into it? I've never received any incentives from Santander

Yes

 My reading of their guide is that if you change your account type and then want to switch in a different bank's account then you have to do it in-branch.

 Applying for a new Edge account and switching can all be done online.

 https://www.santander.co.uk/personal/support/current-accounts/switching

Chaoscontrol

Can someone confirm how the Santander Edge savings account work?
I mean, what does the "link" mean? Can I have my entire balance in the savings account and whenever some bill needs to be paid in the Edge account it "automatically pulls" balance from the savings one to pay it?

Or do I have to be moving manually like normal accounts?

andyhicks88

Looking at the "fund the account with £1000" instruction...can this be a transfer from another Santander account like an E Saver, for example? Looking at the terms and conditions it doesn't really say anything about what is or isn't accepted?

PRAISETHESUN

flaneurs_lobster said:

Expotter said:

I have a 123 Lite account with Santander, if I change it to an Edge account will I still be eligible for the £200 if I switch an account from a different bank into it? I've never received any incentives from Santander

Yes

 My reading of their guide is that if you change your account type and then want to switch in a different bank's account then you have to do it in-branch.

 Applying for a new Edge account and switching can all be done online.

 https://www.santander.co.uk/personal/support/current-accounts/switching

You don't need to change your 123 account to an Edge account if you don't want to - existing 123 accounts are included in the switch offer as per the terms I posted on page 1.

And as per previous offers, although their website says that switches to existing accounts must be done in branch, it is in fact possible to do this over the phone - no need to waste everyone's time going in branch. There's unfortunately no option to switch online unless switching into a brand new account as a part of the online application process - you can open a second Everyday current account to do this if you want to avoid faffing about with customer service.