Santander £175 switch offer 14th May 2024

dealyboy

As nobody will have received the March incentive yet maybe we can all go for this one as well. As they say ... it's the application date that matters  .

jameseonline

Bridlington1 said:

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/

Ahh they lowered the amount, it was £25 when I applied for mine.

Currently you can get £12 via Quidco 😂 

TERRYGL

Hi all from a nervous switcher, I'm thinking of switching from TSB to this Santander account, but I see the DDs and standing orders going out of my TSB are taken care of in the switch, but what about my pensions and other incoming monies, would i have to contact these people to get them to pay into a different account? And my TSB debit card, can I still use this until the switching is complete and i receive a Santander card? Thanks very much for any advice.

Terry

Devonjem

Just received in to my account the £185 incentive from Santander.

jbrassy

The £175 switch offer is great, but the ongoing cashback offer is pretty rubbish in my opinion, largely due to the £3 a month fee.

Firstly, you can get 1% cashback at supermarkets and travel using Chase which doesn't charge any fees on the account.

That leaves cashback on bills. I reckon my bills add up to about £450 a month. 1% of this is £4.50. Once the fee is taken into account, this drops to £1.50 a month cashback, or £18 a year. 

PRAISETHESUN

TERRYGL said:

Hi all from a nervous switcher, I'm thinking of switching from TSB to this Santander account, but I see the DDs and standing orders going out of my TSB are taken care of in the switch, but what about my pensions and other incoming monies, would i have to contact these people to get them to pay into a different account? And my TSB debit card, can I still use this until the switching is complete and i receive a Santander card? Thanks very much for any advice.

Terry

See here for info on the CASS guarantee: https://www.currentaccountswitch.co.uk/

In a nutshell, your DDs and SOs will automatically be moved from TSB to your new Santander account as a part of the switch. Additionally, any payments made to your old account will be automatically forwarded to your new account so your pension will be fine. It wouldn't hurt to let them know your new account details, but it shouldn't really matter either way as I understand they notify the sender of your new account details anyway. As for your debit card, you can use your existing TSB card up until the TSB account is closed, and then you should be using your Santander card.

[Deleted User]

I've gone for it. By my maths the 7% interest on £4,000, minus the £3 fee still equals 6%, which is good. Plus £175 is nice.

I'll keep Chase for most of my spending though for now.

steven141

PRAISETHESUN said:

TERRYGL said:

Hi all from a nervous switcher, I'm thinking of switching from TSB to this Santander account, but I see the DDs and standing orders going out of my TSB are taken care of in the switch, but what about my pensions and other incoming monies, would i have to contact these people to get them to pay into a different account? And my TSB debit card, can I still use this until the switching is complete and i receive a Santander card? Thanks very much for any advice.

Terry

See here for info on the CASS guarantee: https://www.currentaccountswitch.co.uk/

In a nutshell, your DDs and SOs will automatically be moved from TSB to your new Santander account as a part of the switch. Additionally, any payments made to your old account will be automatically forwarded to your new account so your pension will be fine. It wouldn't hurt to let them know your new account details, but it shouldn't really matter either way as I understand they notify the sender of your new account details anyway. As for your debit card, you can use your existing TSB card up until the TSB account is closed, and then you should be using your Santander card.

The payments only forward for 3 years so I would change your details with anyone who pays into your account before you forget if you have gone for the switch. 

jameseonline

You should always give your new details to people asap just incase things go wrong with the forwarding of money/switch etc.

Banks usually advise to give your new details to people such as employers etc.

UndergroundSaxClub

Hi all,

First time (possible) switcher. Currently have an incredibly old RBS current account which does nothing for me and looking quite hard at this. Wondering if there is anything to "watch out for" beyond the info on the account page such as the £3 monthly fee, £500 monthly and x2 Direct Debits?

My plan is to switch to this and close my RBS account (or leave it dormant. Does it mattter?). Put £4000 in immediately and put any interest/additional savings into my Santander savings account now at 4.20%(if I recall correctly) interest. I'm unsure if I can have the current account, the 7% and my existing 4.20% savings account all at once.

Silly question for sure, my mortgage is a direct debit. Would Santander recognise this as a bill? It's not a limiting factor, however would negate the £3 fee entirely.