Switch to Santander & Get £100

Edrof

Edrof

Edrof

Soldato
Joined
16 Nov 2009
Posts
16,034
Location
UK
It's old news now I know but I'm recently tempted.

The deal is:

Switch your current account to Santander and they give you £100 and 5%AER fixed for a year on balances up to 2.5k. 1k minimum pay in per month.

Anyone switched? Or are there juicier deals out there?


Source
 
if they need to give you £100 to switch they cant be that good, I have though about it before and did some reading but decided not to. (i cant remeber what put me off tho)
 
*We will not pay you interest on any amount over £2,500, or on the whole balance if the required monthly credits are not made. After 12 months the rate changes to 1.00% gross/AER (variable) on balances up to £2,500.
 
StringerBell said:
Given that you have to pay in 12K over the year, and that the 5% only pays on the first 2.5K, how much do they pay you on the remaining 9.5K?
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That's not what it says. They pay interest on balances up to £2.5k, most people if they are paying in £1k/month are paying in their pay cheques out of which will come their normal expenses so even paying in that amount per month there will be significantly less than £12k left in there at the end of the year.

Given the problems everyone I know who has had an account (or credit card) with Santander I certainly wouldn't switch to them.
 
memyselfandi said:
That's not what it says. They pay interest on balances up to £2.5k, most people if they are paying in £1k/month are paying in their pay cheques out of which will come their normal expenses so even paying in that amount per month there will be significantly less than £12k left in there at the end of the year.

Given the problems everyone I know who has had an account (or credit card) with Santander I certainly wouldn't switch to them.
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My bad.
 
You could set up this account, get your wages paid into it, maintain a balance of £2500 and transfer anything over that into your normal current account.

One for the real Scrooges, I think!
 
Will this offer let me do the following switch from my current to satander get the 100 gbp then close my Satander account the next week and go back to my first bank ?
 
tron said:
Will this offer let me do the following switch from my current to satander get the 100 gbp then close my Satander account the next week and go back to my first bank ?
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£100 will be paid into your new account within three months of account opening providing you have at least one active direct debit (paid at least once) set up on the account within 11 weeks and have paid in at least £1,000 each month.
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you could have found that out yourself, by clicking the link above, quicker that typing out the original message.
 
Santander are excellent, the online system is one of the best I've used. Everyone will know someone who doesn't like X or Y bank. I for example detest both the Clydesdale and RBS, yet have my mortgage through RBS as it gave me the best deal at the time.

It's money folks, do what's best for you and ignore people who give advice based on their experience - as every branch of every bank is different (sadly.)
 
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