Santander e-voucher eligability

diy1950

Has anyone received  the e-voucher when transferring an ISA from another provider  more than once? I opened a fixed rate ISA a few months back and received the voucher. Can I transfer another ISA  to a further new fixed rate Isa at a different rate and receive the voucher again? 
Anyone successfully done this?

35har1old

diy1950 said:

Has anyone received  the e-voucher when transferring an ISA from another provider  more than once? I opened a fixed rate ISA a few months back and received the voucher. Can I transfer another ISA  to a further new fixed rate Isa at a different rate and receive the voucher again? 
Anyone successfully done this?

Asfar as I can see in the terms there is nothing preventing you from receiving the voucher

refluxer

If you received your voucher as part of the current promotion then I don't think you can get another one. This line from the terms is relevant...

3.3 We will make one Voucher Payment per customer.

If it was a different promotion however (Santander have these running for a few months at various times of the year), then you should be fine to get another voucher. I took advantage of two different promotions (in September 2022 and April 2023) and received a voucher for each for doing a qualifying transfer.

diy1950

refluxer said:

If you received your voucher as part of the current promotion then I don't think you can get another one. This line from the terms is relevant...

3.3 We will make one Voucher Payment per customer.

If it was a different promotion however (Santander have these running for a few months at various times of the year), then you should be fine to get another voucher. I took advantage of two different promotions (in September 2022 and April 2023) and received a voucher for each for doing a qualifying transfer.

That was the line in the terms  I was unsure about. Did they mean one voucher per customer overall, or one voucher per customer per promotion. Good to hear you qualified on 2 different promotions. Thanks.

refluxer

diy1950 said:

refluxer said:

If you received your voucher as part of the current promotion then I don't think you can get another one. This line from the terms is relevant...

3.3 We will make one Voucher Payment per customer.

If it was a different promotion however (Santander have these running for a few months at various times of the year), then you should be fine to get another voucher. I took advantage of two different promotions (in September 2022 and April 2023) and received a voucher for each for doing a qualifying transfer.

That was the line in the terms  I was unsure about. Did they mean one voucher per customer overall, or one voucher per customer per promotion. Good to hear you qualified on 2 different promotions. Thanks.

As each set of promotion terms has a specific start date on it, I take it to mean per customer per promotion. It's definitely not overall, as I (and others on the forum I think) have done this more than once.

As you probably found last time, the promotion terms are pretty specific so you just need to make sure you read them carefully to ensure that you qualify on all the points each time - eg. a full (not partial) transfer, over £10k etc.

The current promotion started on 18th September according to the terms - when did you open your existing ISA and get the previous voucher ? Mine was opened in March/April this year (although they can sometimes run for a month or two) so that was definitely a different promotion to the current one. I'm actually thinking of transferring in again from an easy access ISA elsewhere, as the funds in that are fairly low so the £50 voucher gives a more significant boost to the effective interest rate.

diy1950

refluxer said:

diy1950 said:

refluxer said:

If you received your voucher as part of the current promotion then I don't think you can get another one. This line from the terms is relevant...

3.3 We will make one Voucher Payment per customer.

If it was a different promotion however (Santander have these running for a few months at various times of the year), then you should be fine to get another voucher. I took advantage of two different promotions (in September 2022 and April 2023) and received a voucher for each for doing a qualifying transfer.

That was the line in the terms  I was unsure about. Did they mean one voucher per customer overall, or one voucher per customer per promotion. Good to hear you qualified on 2 different promotions. Thanks.

As each set of promotion terms has a specific start date on it, I take it to mean per customer per promotion. It's definitely not overall, as I (and others on the forum I think) have done this more than once.

As you probably found last time, the promotion terms are pretty specific so you just need to make sure you read them carefully to ensure that you qualify on all the points each time - eg. a full (not partial) transfer, over £10k etc.

The current promotion started on 18th September according to the terms - when did you open your existing ISA and get the previous voucher ? Mine was opened in March/April this year (although they can sometimes run for a month or two) so that was definitely a different promotion to the current one. I'm actually thinking of transferring in again from an easy access ISA elsewhere, as the funds in that are fairly low so the £50 voucher gives a more significant boost to the effective interest rate.

Same as you. I opened my existing ISA in March/April this year so should be ok for voucher on this new promotion.
Had another look at what's on offer.
If my maths are right I think the Santander effective interest rate would be 5.10%  (£460 interest on £10000 plus £50 voucher)
In which case the Shawbrook 1 year ISA bond is a better bet at 5.83%

refluxer

diy1950 said:

Same as you. I opened my existing ISA in March/April this year so should be ok for voucher on this new promotion.
Had another look at what's on offer.
If my maths are right I think the Santander effective interest rate would be 5.10%  (£460 interest on £10000 plus £50 voucher)
In which case the Shawbrook 1 year ISA bond is a better bet at 5.83%

Which account are you looking at ? The Santander 1 year fixed rate ISA is currently 5.60% so £10,000 would earn £560 in interest.

£560 + £50 voucher = £610 which gives an equivalent rate of 6.10% and would make it the highest-paying 1 year ISA option for £10k at the moment.

Once you get to around £22k though, you're better off with Shawbrook.

diy1950

refluxer said:

diy1950 said:

Same as you. I opened my existing ISA in March/April this year so should be ok for voucher on this new promotion.
Had another look at what's on offer.
If my maths are right I think the Santander effective interest rate would be 5.10%  (£460 interest on £10000 plus £50 voucher)
In which case the Shawbrook 1 year ISA bond is a better bet at 5.83%

Which account are you looking at ? The Santander 1 year fixed rate ISA is currently 5.60% so £10,000 would earn £560 in interest.

£560 + £50 voucher = £610 which gives an equivalent rate of 6.10% and would make it the highest-paying 1 year ISA option for £10k at the moment.

Once you get to around £22k though, you're better off with Shawbrook.

You are absolutely right. Don't know how I came to think the rate was 4.60%. Can I put it down to a senior moment!!
Thanks for your time.

howryoo

Thanks for this thread.

I also transferred in and received a voucher back in April, so seeing this as a separate promotion, I should be fine in getting another eVoucher?

youngretired

Has anyone yet received their e-voucher for this offer? If so how long after the switch did it arrive?

Last year when I took out the offer the e-voucher arrived after a week of the switch. Switch this time happened on the 7th, so just wondering if this time round it is taking longer. I know it says within 30 days of the switch.

refluxer

youngretired said:

Has anyone yet received their e-voucher for this offer? If so how long after the switch did it arrive?

Last year when I took out the offer the e-voucher arrived after a week of the switch. Switch this time happened on the 7th, so just wondering if this time round it is taking longer. I know it says within 30 days of the switch.

I didn't take advantage of the recent offer but when I applied for a fixed rate ISA this time last year and another back in March this year, the voucher emails arrived 3 weeks after the application date on both occasions.