Santander offering £200 to anyone switching to one of its bank accounts

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Manchester, United Kingdom - April 21, 2013: Exterior view of Santander Bank branch in Manchester, UK. Santander Group was ranked 43rd largest company in the world by Forbes in 2013.

A BANK is offering £200 to anyone switching to one of its accounts.

New and existing customers receive the cash bonus when they move to an eligible Santander current account using the Current Account Switch Service.

A bank is offering £200 to anyone switching to one of its accounts

To qualify they must switch within 60 days, set up two direct debits, deposit at least £500 a month and use online or mobile banking.

The accounts are Edge, 123, Select, Private and Everyday.

Rachel Springall, of Moneyfacts.co.uk, said of rivals’ offers: “Lloyds Bank will pay £200 as a switching incentive until March 20 and First Direct £175.

“It’s great to see Santander launch an attractive switching cashback incentive for new and existing customers at a time when there are very few other brands doing the same.

“The Edge account is the newest addition to the range of options from Santander and may well be an enticing choice for customers who want to earn a little bit of their monthly bills and shopping.

“Elsewhere, Lloyds Bank will pay customers £200 as a switching incentive until March 20 on selected accounts and first direct will pay £175.”