Santander has announced a £180 incentive for eligible customers who switch their current accounts, with a strict 60-day rule for processing. Customers must open an eligible account, complete the switch within 60 days, and meet specific criteria to qualify for the payment, which will be credited within 90 days of the switch request.

• 01The £180 switch incentive is available only to customers who did not hold a Santander current account as of January 1, 2025.
• 02To qualify, customers must open an eligible account, request a switch, and complete it within 60 days.
• 03Eligibility criteria include having at least two active household Direct Debits and depositing a minimum of £1,500.
• 04Payments will be made directly into the customer's Santander account within 90 days after the switch request is completed.
• 05The bank confirmed that no alternative payment options are available for the incentive.

This incentive could encourage more customers to switch to Santander, potentially increasing the bank's customer base and enhancing local banking competition.