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.

badger09

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

I had a similar experience in April 2025. A VM FRISA approx £21500 had matured so I 1st transferred £11k to a new VM Exclusive Flex ISA, giving me 2 ISAs to xfer.
I then opened a 12 month and an 18 month FRISA with Santander and asked them to xfer in the full balances from the 2 VM ISAs.

Voucher codes received about a week later which I converted to a £50 & 2x £25 vouchers. I didn’t find it at all complicated.

myth123

I need to transfer £10,000 into an ISA to use for the full transfer to the easy access ISA. Doesn’t look like there’s anything preventing you ditching Santander after the voucher has been paid out on that account?

refluxer

https://forums.moneysavingexpert.com/discussion/comment/81932872#Comment_81932872

I'm surprised the offer includes their easy access ISA for the reason you mention, although it is on a pretty low rate which would put many off.

The T&Cs state that you'll receive the eVoucher within 30 days of the transfer completing, so I guess you'll just have to weigh up the benefit of a £50 voucher vs £10k being stuck on 2% for potentially up to a month. You shouldn't lose out, but it'll take a decent chunk out of that £50 profit if it does take the full 30 days.

As I mentioned above, I got the voucher in about 9 days last time but I think the time before that was probably closer to 30 days so it really does vary.

Jazzking

Has anyone had their voucher from this yet? Notice it's a slightly different offer than the current one that's listed but think it's still 30 days from date of transfer, and I transferred on 26th March.

Hoping to transfer this into First Direct for another £100 voucher but really wanted to get confirmation of the Santander voucher first...