The bank is also offering a 12-month Kids Pass membership, worth £39.99, when they open a Santander savings account or cash ISA
Santander UK has unveiled a new £200 current account switch offer, as the battle between providers intensifies. In addition to this, the bank is offering a 12-month Kids Pass membership, worth £39.99, when customers open a Santander savings account or cash ISA.
The bank said that both new and existing customers could potentially pocket £200 after switching their current account through the Current Account Switch Service (CASS) to a Santander Everyday, Edge, Edge Up, Edge Explorer or Private account. To qualify for the offer, customers must be a UK resident switching from an external provider (excluding Santander, cahoot or Cater Allen).
However, people will not be eligible if anyone named on the new account held a Santander current account on January 1, 2025, or has previously received a switch incentive from Santander. To be considered, they must submit a switch request on or after November 10, 2025, and before the switcher offer is withdrawn; complete a full switch (including closing their external account) within 60 days; deposit at least £1,500 into their eligible Santander account within that period (via one or more payments); and set up at least two active household direct debits (such as council tax, utilities, or broadband) on their new account.
Once eligibility is confirmed, the £200 payment will be made directly into the Santander account within 30 days, the bank has announced. In addition to the switcher offer, customers who open any Santander savings account or cash ISA will receive a complimentary 12-month Kids Pass membership, offering discounts on days out, cinema trips, restaurants and holiday activities.
To qualify for the free 12-month Kids Pass membership, customers must deposit at least £100 into their new Santander savings account or cash ISA within 30 days of opening the account. A unique code will be sent via online and/or mobile banking within 30 days of crediting their account.
Anthony Warrington, head of current accounts at Santander UK, said: “Christmas is fast approaching, and we know that this time of year can really stretch people’s finances, with shopping, social plans and rising household costs all adding up.”
The £200 switching offer is available for a “limited time” and may be withdrawn at any time, Santander warned. The Kids Pass offer may also be withdrawn at any time and is limited to one code per customer, it added.
Other current account providers are also enticing customers with cash to switch. Barclays is offering £200 to individuals opening a Barclays Bank Account, or £400 when they open a Premier Current Account.
Lloyds is also tempting people with £200 to switch their current account. Nationwide Building Society, NatWest and First Direct are offering £175 to switch.
Terms and conditions apply to the switching offers. Lloyds has also introduced a “refer a friend” scheme, offering eligible Lloyds customers the opportunity to earn up to £250 by encouraging friends or family who aren’t currently with Lloyds to open an account.
Customers can generate a referral link via the “apply” section in their Lloyds app. For each successful sign-up, both the existing customer and the new one will receive £50, according to Lloyds.
The referrer can earn money from their first five referrals, potentially bagging up to £250. The reward will be paid to both parties within 30 days of the new bank account being opened, Lloyds confirmed.
