Santander e-voucher offer

sheffieldeagle

Hi

Just been emailed this as part of Santander boosts but I think it's their usual offer. I'm not sure whether to bother to be honest. If I new it would a short wait for the voucher I might be tempted.

Cheers

flaneurs_lobster

Wonder why they reward with shopping voucher rather than cash - tax?

Says they'll send (complicated) redemption instructions inside 30 days of transfer.

There's £12 available from Quidco too for opening the ISA.

sheffieldeagle

I missed the Quidco cashback only tend to use TopCashback and they don't have it (yet).

Cheers

Amended. It is on TopCashback £15

refluxer

I've taken advantage of this offer a couple of times in the past, when the rate was good and the bonus added to that meant that the effective interest rate became better than anything else available. You just need to do your sums to work out whether they add up for you, based on the balance you have to transfer and the rates available elsewhere.

The effective boost from the bonus will be more beneficial the nearer you are to the minimum so £50 on a £10k transfer, for example, equates to 0.5% which would make all of their fixed rates higher than anything else you can currently get once you factor that in, the only caveat being that the £50 obviously isn't added into the ISA so you won't get the same long-term effect on that bonus as if it had been actual ISA interest.

You just have to be careful to ensure that your transfer qualifies. For example - in the past, they've insisted on full transfers, so you can't partially transfer-in £10k from a cash ISA with a higher balance.

The last time I did this, I received the voucher code 9 days after I submitted the transfer-in request, but the time this takes will presumably vary depending on the efficiency of the provider you're transferring from and how long it takes Santander to verify that the transfer qualifies for the voucher.

Redeeming the voucher is a little fiddly, but works fine when you follow the instructions they provide. I opted for Amazon vouchers for ease, which I was able to credit to my Amazon account pretty quickly.

sheffieldeagle

https://forums.moneysavingexpert.com/discussion/comment/81928588#Comment_81928588

Thanks for your comprehensive reply much appreciated.