Santander’s £150 switching offer has now ended. The information below is for reference only. For switching deals & sign-up bonus offers available now, make sure you check out our switching deals guide and sign-up bonus deals guide.
A new £150 switching bonus from Santander launched on 4 November 2024. This one is similar to its previous deal, but there are 2 important changes. Firstly, you can claim the offer when switching to multiple current accounts. These include the Everyday Current Account (read our review) 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.
You get £150 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’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.
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.
To get the £150 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.
There’s no end date listed on the Santander site, but it may be withdrawn at any time.
If this offer is not for you, we also have a guide displaying current banking switching deals on the market and also other banking offers such as refer-a-friend offers and more.
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.
Read the full methodology
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