Santander £175 switch offer 14th May 2024


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FREE £175 to switch plus an ongoing 1% cashback on most bills and some spending.
While it offers the switch bonus on three accounts, our top pick is the Santander Edge* as, for a £3/month fee, it pays 1% back on energy, council tax, broadband, TV, mobile & water bills (max £10/month) and 1% on supermarket, fuel and train spending (max £10/month). There's also a linked saver that pays 7% on up to £4,000 for the first year – maxed out, this pays £280 interest.
The Santander Edge Up has a higher £5/month fee but could pay more cashback if you've larger bills (energy, water, council tax, broadband, mobile, paid-for TV) and/or high supermarket/travel spend. Edge Up pays max £15/month cashback on both, so if either are about £1,200+ you'll likely be better off than with the cheaper Edge account.
Who can get the bonus?- You can't have ever had a switch bonus from Santander before, and you must be switching from a non-Santander, Cahoot or Cater Allen account.
How to get the £175 bonus:
- Open an account online or in branch. (You can also switch in to an existing Santander Edge, Edge Up account in branch.)
- Within 60 days – switch in an account from a different bank, have 2+ Direct Debits and pay in £1,500+.
- The £175 will be paid between 60 and 90 days after starting the switch
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Here's a link to Santander's info page, rather than the MSE version. Always best to read the actual offer, not an interpretation, even from MSE!
https://www.santander.co.uk/personal/support/current-accounts/switchingGet £175 when you switch to Santander Edge, Santander Edge Up or Private (v2) current account
Here's how it works:
- Apply for an eligible current account
- If you apply online, don't forget to choose the option to switch your account to us (this must be from a current account you have elsewhere).
- Within 60 days of telling us to switch your account, you’ll need to complete the full switch using the Current Account Switch Service, set up 2 active Direct Debits (this can’t include Direct Debits set up to fund a savings account you have with Santander, cahoot or Cater Allen), and pay in £1,500.
- We’ll take care of your switch, using the Current Account Switch Service. 60 days after you tell us to switch your account, we’ll check to make sure you’re eligible and then pay £175 into your account within the next 30 days.
If you, or anyone named on the account has previously received a switcher incentive on any of our accounts, you will not be eligible for this offer.It’s important that the details you provide when switching are correct and the same as the ones held at your old bank. If you need to update anything on your old account, it’s best to do this before you start your switch.
Already have an eligible current account with us? You can switch a current account you have elsewhere to your existing Santander bank account to benefit from this offer. Visit your local branch. You may need to book an appointment.
Offer may be withdrawn at any time. Further details in the switcher terms and conditions5 -
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Looks like it's 'set up two direct debits' rather than 'switch' so a dormant donor account should be sufficient if I'm reading it correctly. Perfect timing to get the Edge Saver for when the rate drops on the Easy Access account.1
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Santander offering is good but £3 fee for both Edge current account and Credit Card takes a chunk off the potential benefits.
But it's a good incentive. Just a shame it's 60-90 days to get it.
I can't remember if I've had a switch incentive from Santander before. Definitely had an account but may chance it.1 -
I had one at the end of 2022 so not eligible but if you are eligible it’s worthwhile. I think that a lot of banks have become wise to serial switchers now. I’m guessing they will only open up the offers to people who have had the offer some time away. How can they tell if you have had an offer say, over 6 years ago since data retention should only be for 6 years?1
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I only recently switched a current account away from Santander. I checked through my emails and I'm fairly sure I only got the Topcashback reward for opening it and never switched to them. Either way, the boosted interest on the Edge Saver is about £100 over the course of a year while the DD cashback should cover the monthly fee at worst.0
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[Deleted User] said:Santander offering is good but £3 fee for both Edge current account and Credit Card takes a chunk off the potential benefits.
But it's a good incentive. Just a shame it's 60-90 days to get it.
I can't remember if I've had a switch incentive from Santander before. Definitely had an account but may chance it.
https://forums.moneysavingexpert.com/discussion/6514207/santander-185-switch-offer-18-03-24/p1
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I've now archived the full Ts&Cs to the wayback machine for future reference.
https://web.archive.org/web/20240514161454/https://www.santander.co.uk/assets/s3fs-public/AD_documents/may_switcher_terms_and_conditions_core_mc0639_may_24_ipg_cd.pdf
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In addition to the offer you can also currently get £15 for opening a Santander Edge account via top cashback:
https://www.topcashback.co.uk/santander-edge-current-account/
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