Santander is alerting customers with over £1,500 in their accounts to take advantage of a £200 free payment offer when switching to an eligible Santander current account. To qualify, customers must open the suitable account and initiate the switch using the Current Account Switch Service.
To be eligible, customers need to complete the switch within 60 days of their request, have at least two active household Direct Debits set up, and pay in a minimum of £1,500. If these conditions are met, the £200 payout will be credited 90 days after the switch request.
Santander emphasizes the importance of ensuring that the personal details provided during the switch match those held by the previous bank. Customers should update any changes to names or addresses on their old account before starting the switching process.
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When switching, Santander will transfer your account balance, regular income sources like salary or pension, all Direct Debits and standing orders, as well as payee information. They will also handle any payments mistakenly sent to your old account by redirecting them to your new Santander account and informing senders of your updated details.
Customers will be required to provide three key pieces of information: the sort code and account number of their old account, their existing debit card number and expiry date, and the debit card details for all account applicants.
Santander notes that they cannot switch an account if your old bank account is joint but the new Santander account is held in only one name.
Switching from a bank or building society not signed up to the Current Account Switch Service is possible, but in this case, customers will not qualify for any switcher incentives.
The Current Account Switch Service is designed to make moving your current account between banks or building societies straightforward and hassle-free.