Santander has reached out to many of its customers, with emails sent this week alerting them to how they may be able to claim a £150 payment. The banking giant has said “Get £150 when you switch” with the email further explaining how it works.
Part of the correspondence reads: “Looking for those little wins with your big shop? With our Santander Edge current account, get cashback on your household bills, supermarket spend and travel costs. We also won’t charge you for using your debit card abroad.”
To qualify for the £150, which Santander states will be paid within 90 days, customers must use the Current Account Switch Service to fully transfer their account, deposit at least £1,500, and maintain two active Direct Debits within 60 days of initiating the switch. You also can’t have received a cash incentive for switching to a Santander current account since September 2021.
While the Edge account incurs a £3 monthly fee, the potential returns could be appealing, with 1% cashback on selected household bills, supermarkets, and travel expenses when paying by debit card – potentially amounting to £20 a month.
Additionally, the account offers “exclusive” access to the Santander Edge saver, an optional savings account boasting a 6% AER on balances up to £4,000.