Current Account Offer Extended by Santander

Customers switching their current account to Santander will be entitled to £100 cashback as the bank announces they are extending their offer.

Brits looking to make some money off their balances can benefit also from Santanderís market leading 5 percent in-credit interest rate, which applies for the first 12 months of account opening.

After the previous cashback offer came to an end, Santander has brought back their cash incentive with the added ability to apply at a branch, on the phone or online, making it even easier for customers to take advantage of the deal.

ìFor the ultimate in fee-free banking, thereís our Zero current account and for customers who are looking for a current account with added benefits thereís our Reward and Premium current accounts,î explained Nici Audhlam-Gardiner, Santanderís banking director.

ìHurry ñ this offer will be available for a limited time only.î

Am I eligible for the cashback?

To benefit from the offer, customers are required to deposit at least £1,000 into the account each month and have at least two standing orders, or direct debits attached to the current account. 

After three months, customers should receive the cashback and five percent interest on balances up to £2,500 will be added each month.

Comparing Current Accounts

Over one million people switched their current account to Santander in 2010, their research showed, however although this offer leads the market with the highest cashback incentive it may not provide the best service for your own financial requirements.

For example, the interest applied to overdrafts for these current accounts are considerable, and if you are likely to dip into it occasionally, you may end up losing the money you made from switching.

Other points to consider when switching current accounts, is how long the interest on your in-credit balances lasts for.  The Santander offer of 5 percent on balances up to £2,500 lasts for 12 months, so you may want to consider an account that can offer this for a longer period.

Compare Current Accounts with Moneyexpert.com

 

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