Santander offering £25 to those who recommend friends to switch current account

Santander is encouraging consumers to recommend its current accounts to friends by offering them a £25 reward.

The bank has launched a special online offer for existing customers to recommend Santander's current accounts to friends.

If someone switches current account using the bank's switching service, they will also receive a £100 reward.

Nici Audhlam-Gardiner, Santander banking director, said: "We believe it's important to reward loyalty so as well as offering cash gifts to new customers we think it's important to give a little something extra back to our existing customers.

"People who already bank with Santander enjoy a range of benefits, for example Santander's Preferred Current Account is a market-leading best buy account, and our customers' friends could enjoy these benefits too."

Those who switch current accounts to the bank can have all their existing standing orders and direct debits from their old bank to the new current account.

Their existing overdraft, of up to £5,000, will also be matched by the bank.

Brits looking to switch current account may want to use a price comparison site, such as MoneyExpert.com, to find the best one for them.

That is because the site lists all the accounts currently on the market and any benefits they may offer.

Online bank first direct recently revealed that 58 per cent of couples living together have kept a separate current account in order to maintain some financial independence.

It was also found that 21 per cent of couples have one joint account from which they pay their bills and a separate current account each.

Just 20 per cent of couples combine their finances into one account when they move in together.

The main reason cited by couples for why they want to keep a separate current account is that they want to keep some financial independence in case it goes wrong.

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