Santander has reintroduced its current account switching deal after it met huge success in the summer. Claim £100 cashback for switching bank accounts.
The offer is available for switching to the bankís in-credit current account and offers an interest rate of five percent, and they promise to offer customers a ëhassle-freeí move.
The high street bankís research shows thousands of customers switch to a Santander Current Account every week and they expect this to continue with the addition of 300 extra branches due to open thanks to the rebranding of Alliance & Leicester.
ìAt Santander we offer a range of current accounts with some of the best rates on the market ñ and weíre rewarding every customer who switches their main current account to us with £100 cash,î said Gillian Almond, head of Santander Current Accounts.
ìWe want to encourage consumers not to settle for less and to shop around for the best current account deal.î
Santander has also introduced a dedicated Account Transfer Service to help ensure the transfer is made as quick and simple as possible.
Furthermore if the customers incur any bank charges during the switching process, the bank will refund these penalties in full.
Despite the array of competitive offers on the market, further research by Consumer Focus showed 75 percent of consumers have never considered switching their current account to take advantage of a better rate of interest.
The research revealed people are more likely to switch energy supplier and telecoms provider, 31 and 26 percent respectively compared to a tiny seven percent who have switched current accounts in the last two years.
The fears many expressed were due to either the possible costs when things go wrong; the extra hassle or they have a general fear of a negative effect on their credit rating.
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