3 days ago
Major bank giving away £180 free cash – here is how you can get your hands on it
A MAJOR bank is giving away £180 free cash - here is how you can get your hands on it.
Santander has launched a new switching incentive to lure customers.
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The bank is offering the cash to new customers who open an eligible current account with the high street lender.
That includes the bank's fee free Everyday Current Account.
As part of the deal, customers will receive £180 within 90 days of making the switch.
But there are some requirements to get the cash.
For starters, customers need to pay £1,500 into the account within 60 days. This does not have to be deposited all at once.
Customers must also set up two active household Direct Debits on the new account.
This can include your council tax, mobile phone, home phone, broadband, paid-for TV packages, water, gas and electricity bills.
Current Account Switch Service (CASS).
CASS helps people switch their current accounts by handling the move for free, including moving balances and payments to the new account and closing the old one.
It is a free service and helps move customers' balance, direct debits and salary over in seven days.
Switch bank accounts for free perks
Existing Santander customers may also be eligible for the free cash.
Customers might still qualify for the incentive if they opened an account after January 1 2025.
The bank can switch a current account existing customers hold at another bank to their Santander current account.
Although the offer is enticing, it always pays to read through the full terms and conditions and ensure the available accounts match your banking needs.
OTHER SWITCHING OFFERS
TSB is giving new customers who switch to the high street bank a £100 switching incentive.
You get the £100 upfront but if you spend on you debit card for 20 times in the first six months you get a £15 a month cash back.
Co-op bank is also paying £175 to new customers.
Meanwhile, Nationwide is giving existing customers a £100 cash boost.
This is part of Nationwide's Fairer Share programme, which set out to reward customers who bank with the lender or meet certain lending criteria.
The payment goes to members who bank with Nationwide regularly.
Those who have a savings account or mortgage product could also qualify.
It will be paid directly into customers Nationwide current account between June 18 and July 4.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up - there's a full list on CASS' website.
Under the switching service, swapping banks should take seven working days.
You don't have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts - but these accounts might come with a monthly fee.
