Santander extends £300 cashback offer

Santander is extending its unique, market-leading £300 cashback offer for new customers who switch to its Preferred, Reward or Premium current accounts, all of which pay a best buy in-credit interest rate of 5 per cent AER (fixed) for 12 months.

Santander has taken the decision to keep the cashback offer running throughout the Christmas holiday period.  The offer was originally due to close on 6 November.

Reza Attar-Zadeh, banking director at Santander, said: "With the Christmas holiday season not far away now, what better way to get up to an extra £300 towards the festive season to just switch current accounts.

"Our £300 switching offer has been incredibly popular and in recognition of the demand for this offer we've decided to extend it.  We want to continue rewarding customers who choose to switch their main current account to us, and the deeper our existing customers' relationships with Santander, the more they'll earn in rewards.  Our offer has seriously shaken up the market and made it more financially interesting for customers who never thought it was worthwhile to switch bank accounts before.

"Our market-leading Preferred Current Account has been ranked a ‘best buy' by Moneyfacts, and it, together with our Reward and Premium current accounts, pays 5 per cent in-credit interest, the highest rate in the entire market."

In recognition of their relationship with Santander, existing Santander mortgage customers who either already have, or can deposit £10,000 in savings with Santander and switch their main current account to Santander will earn £300.

Existing mortgage customers who don't have £10,000 in savings but switch their current account will get £200.

And, in keeping with Santander's previous ‘switcher' offers, any new customer who switches their main current account to Santander will earn £100.

This offer is available in any of Santander's 1,300 UK branches, by phone and online until January, and is for customers who switch to Santander's best buy Preferred Current Account or its Reward or Premium current accounts, all of which pay a market-leading 5 per cent AER in-credit interest for 12 months.

Switch with confidence

Santander's switching service has gone from strength to strength over the past five years with continual improvements, particularly in terms of reducing the amount of time it takes to switch.

Santander's dedicated switcher team also helps customers through every step of the process providing reassurance that their switch will go through hassle free.

Using Santander's switching service customers can

Have all their existing standing orders, bill payments and direct debits transferred from their old bank to the new Santander current account
Receive a free arranged overdraft for four months.
Expect to match their existing overdraft (up to £5,000, depending on the customer's circumstances).