More major banks are launching cash offers to switch as the battle to attract current account customers intensifies.
Some customers may find the additional cash handy in the run-up to Christmas.
Santander said it is offering £130 cashback to both new and existing customers when they switch their current account to a 123, 123 Lite, Everyday, Select or Private Current Account through the current account switch service (Cass).
- Within 60 days of requesting the switch, customers will need to complete the switch
- Set up two active direct debits
- Deposit at least £1,000
- Log in to their account using either online or mobile banking
To qualify for the £130, within 60 days of requesting the switch, customers will need to complete the switch, set up two active direct debits, deposit at least £1,000 and log in to their account using either online or mobile banking.
Existing customers who have previously opened a 123, 123 Lite, Everyday, Select or Private Current Account can still benefit from the cashback, as long as they complete a full switch from an account they hold elsewhere to their Santander current account using Cass.
Hetal Parmar, head of banking at Santander UK said the £130 cashback could be “a welcome boost in planning for Christmas and the holiday period”.
HSBC UK also launched a current account switch offer on Monday.
Last week, Lloyds Bank also launched a new offer of £100 cash to switch.