1500 pay in Santander switch — how long?

kerakae

Hi all,

I initiated a switch to a Santander current account to get the 185 quid bonus (pre-4th April, so should be okay). I was wondering if anyone knew how long I need to keep £1500 in there to qualify for the bonus. Also, when do you know if you’ve qualified??

Thanks

WillPS

No stated minimum time in account - in and straight out again should be fine. Eligibility is checked 60 days after switch completes.

SaveTheEuro

WillPS said:

Eligibility is checked 60 days after switch completes.

And then it could be another 30 days before the £185 payment is made.

NatWest took 3 days (or 3 hours for some) to pay the switch bonus. Santander need three months.

"We’ll check your Santander account 60 days after the switch has been instructed. If you qualify, we’ll make the switcher offer payment to you within 30 days following our decision."

WillPS

I agree, it's not as generous as Natwest Group or LBG's recent offers where you're paid within days of completion (before even, in the case of LBG!), but at least you can fulfill the requirement then just leave it and await payment. Wooden spoon for these things has to go to HSBC with their recent offer, which required constant engagement including debit card usage for a full year to get the full payout!

As always some providers are more generous than others, but luckily you don't have to pick just one

kerakae

Thanks for the replies! I’ll pop the 1500 in and whip it back into my savings account now!

Does anyone know some good ‘cheap’ direct debits to set up? I’ve entered a direct debit mandate for Plum and am looking to set one up for Freetrade, but don’t know if these will work. Any suggestions welcome. 

GreenScepter

kerakae said:

Thanks for the replies! I’ll pop the 1500 in and whip it back into my savings account now!

Does anyone know some good ‘cheap’ direct debits to set up? I’ve entered a direct debit mandate for Plum and am looking to set one up for Freetrade, but don’t know if these will work. Any suggestions welcome. 

If you fund your PayPal account using the bank account method (NOT card) that works via direct debt. There's also fifty pence direct debit which is cheap, quick and easy. These are my personal go tos for direct debits. There's a thread somewhere with a huge, very detailed list of options. I don't have the link to hand but I'm sure one of the more knowledgeable members will link you to it. 

Edit: Never mind, I found the link: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

PRAISETHESUN

kerakae said:

Thanks for the replies! I’ll pop the 1500 in and whip it back into my savings account now!

Does anyone know some good ‘cheap’ direct debits to set up? I’ve entered a direct debit mandate for Plum and am looking to set one up for Freetrade, but don’t know if these will work. Any suggestions welcome. 

Chip, Plum, PayPal are the usual easy choices, or you can shuffle around existing household bills (council tax, electricity/gas, CC, etc). 

The thread @GreenScepter links to is the best resource on this.

Poquito

kerakae said:

Thanks for the replies! I’ll pop the 1500 in and whip it back into my savings account now!

Does anyone know some good ‘cheap’ direct debits to set up? I’ve entered a direct debit mandate for Plum and am looking to set one up for Freetrade, but don’t know if these will work. Any suggestions welcome. 

Hi Kerakae

i donate to Kidneycare uk who collect the monies through Enthuse. I do £1 a month DD x2. Useful as they are usually set up and debited within a week. Helpful as I really don’t want to be switching my household DD’s that are on Santander 123 Lite.