Santander is set to review customers' account details and payments on a specified date as part of its current offer to encourage new account holders. Customers are urged to have their information complete and accurate to ensure eligibility for the bonus payment.
The bank is offering a £240 incentive to select customers who switch from another bank to Santander’s Everyday Current Account. This promotion is part of a competitive market trend, with other banks such as Barclays, Nationwide, HSBC, and The Co-operative Bank providing similar switching offers.
To receive the bonus, customers must fulfil several steps within a 60-day period. According to Santander’s guidance: “We’ll check your Santander account 60 days after the switch has been instructed. If you qualify, we’ll make the switcher offer payment to you within 30 days following our decision.”
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The offer period runs from 1 September to 7 October. Customers should ensure their switch request is submitted before the 7 October deadline. It is important to note that anyone who held a Santander current account as of 1 January 2026 will not be eligible.
The bonus payment will be credited directly into the new Santander account, with no alternative payment methods available. Santander advises that “We’ll make one payment into your Santander account. You and any joint account holder(s) won’t be entitled to more than one payment between you.”