Santander £200 bonus explained and four things you must do
Santander has initiated a promotional offer, providing a £200 bonus to customers who adhere to specific conditions. The bank is targeting individuals who are ready to switch to one of its current accounts, encouraging new business while rewarding proactive banking.
To qualify for this bonus, customers must fulfill four essential criteria outlined by Santander. These conditions are crucial for those considering the switch, ensuring they are fully aware of the requirements before initiating the account transition.
Here is the full list of requirements to secure the £200 bonus:
1. **Open a Santander current account:** Customers need to open a qualifying account with Santander to be eligible for the bonus.
2. **Set up a monthly pay-in:** A recurring monthly deposit of at least £1,500 must be established into the new account.
3. **Maintain a minimum balance:** Customers must keep a balance of at least £3,000 in their account for the initial five months following account opening.
4. **Use the account frequently:** At least two direct debits should be set up and paid from the account within the first three months.
This offer presents a strategic opportunity for those looking to make a change in their banking arrangements while benefiting from a financial incentive.