You get £180 in switching bonus cash when you transfer to a qualifying Santander current account. If you opt for its Edge account, once you switch, you get access to the Edge Saver at AER for the first 12 months on balances up to £4,000. If you deposit the maximum amount, you would have £240 in interest after a year.
If you choose the Santander Edge account, you can also earn 1% cashback, up to £10 a month, a maximum of £120 in cashback over a year. However, the Edge account has a £3 monthly fee, but we’ve accounted for that £36 a year in our figures.
“That’s £504 in your first year, including switching bonus, maximum savings interest and monthly cashback.”
The Edge Up Current Account and Private (v2) Current Account (a premium account for people with £500,000 to spare) each have a higher £5 monthly fee.
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Both new and existing Santander customers can get it. You can hold a maximum of 2 Santander Edge Up or Santander Edge accounts, one in your own name and one in joint names.
How can I get the deal?
To get the £180 cash, you’ll have to complete a full switch to a Santander Edge Current Account, Santander Edge Up Current Account or Private (v2) Current Account using the Current Account Switch Service.
You’ll also need to set up 2 active direct debits and pay in £1,500 within 60 days.
The exclusions
You won’t be eligible to earn £180 if you held a Santander current account on 1 January 2025, but if you got an account after this date then you’re good to go.
If you or anyone named on the account has previously received a switcher incentive on one of the accounts included in the offer.
Or if you switch from an account you hold with Santander, cahoot or Cater Allen.
The direct debits you set up cannot include direct debits set up to fund a savings account you have with Santander, cahoot or Cater Allen.
When the offer ends
There’s no end date listed on the Santander site, but it may be withdrawn at any time.
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Kate Steere is an editor at Finder, specialising in fintech, banking and cryptocurrency. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio
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Find out how you can open a new current account with NatWest and take advantage of the latest switching bonus.
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