Santander offers new customers cash to switch

Santander is launching a new current account switching offer tomorrow, which will pay up to £300 cashback to customers who switch their main account.

Existing mortgage customers, who either already have £10,000 in savings or can deposit that amount with the bank and switch their main current account to Santander, will earn £300.

Existing mortgage customers who don't have £10,000 in savings but switch their current account will get £200.

And, in keeping with Santander's previous "switcher" offers, any new customer who switches to Santander will receive £100.

This offer will be available in branch, by phone and online for a limited time, and is for customers who switch to Santander's best buy Preferred Current Account or its Reward or Premium current accounts, both of which pay a market-leading 5 per cent AER in-credit interest for 12 months.

The switching service will allow customers to have their existing standing orders, bill payments and direct debits transferred from their old bank to their new current account and will match their existing overdraft (up to £5,000).