Santander switch deal: Get £175

Find out about Santander's switching offer, cashback, plus savings interest on top.

A new £175 switching bonus from Santander launched on 14 May 2024. This one is similar to its previous deal, but there are 2 important changes. Firstly, you can only claim the offer when switching to either the Edge Current Account (read our review), the Edge Up Current Account (read our review) or the Private (v2) Current Account, all of which incur a monthly fee. Secondly, the cash bonus is £10 less than last time. For a full list of the current deals, see our switching deals guide.

How much can I get with Santander’s switch deal?

You get £175 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 7% AER for the first 12 months on balances up to £4,000. If you deposit the maximum amount, you’ll have £280 in interest after a year.

If you choose the Santander Edge account, you can also earn 1% cashback, up to £10 a month, on selected household bills, plus up to £10 a month cashback at supermarkets and on travel costs. Combined, that’s a maximum of £240 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 £659 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.

Who can get the deal?

Both new and existing Santander customers can get it, but existing customers must apply in branch. 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 £175 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 £175 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.

Compare current accounts from Santander

1 - 3 of 3
Name Product Finder score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
OFFER
Everyday Current Account
4.1
★★★★★
£0
No minimum funding requirement
0% AER
39.94% EAR variable
tag iconA simple and straightforward current account, with no monthly fee.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable.
Go to site
View details
CASHBACK
Edge Current Account
4.4
★★★★★
£3 per month
Min. £500 Per Month (Minimum two direct debit mandates on account per month)
0% AER
39.94% EAR variable
tag icon£175 cash when you switch to a Santander Edge current account. T&Cs apply.
Current account switch service guarantee badge
Switch incentive available when you use Current Account Switch Service. For £175 cash you'll have to complete a full switch to a Santander Edge current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable. Account fee of £3 per month.
Go to site
View details
CASHBACK
Santander Edge Up Current
4.4
★★★★★
£5 per month
Min. £1500 Per Month (Minimum two direct debit mandates on account per month)
3.51% AER
39.94% EAR variable
tag icon£175 cash when you switch to a Santander Edge Up current account. T&Cs apply.
Current account switch service guarantee badge
Switch incentive available when you use Current Account Switch Service. For £175 cash you'll have to complete a full switch to a Santander Edge Up current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable. Account fee of £5 per month.
Go to site
View details
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Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

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