You need to submit a request to get the cash from Santander
Santander customers have just a few days left to claim a bonus £180 from the bank. The bank has announced it will be ending its £180 switch offer next week, which you can get when switching to a current account with the provider.
You can get the cash when moving over to either a Santander Everyday, Edge, Edge Up or Private account. Customers need to complete the switch within 60 days of request the switch and also within this period, you need to deposit at least £1,500 into the account.
You also need to have at least two active household direct debits set up within 60 days of requesting the switch on your new account. What counts as a household direct debit can include your council tax, mobile or landline phone bill, broadband, TV packages, as well as gas, water or electricity bills.
READ MORE: Barclays warns ‘you’ll need to pay this fee’ to qualify for £175 payment
Those who have previously had a Santander switch incentive or who have held a Santander current account on January 1, 2025, will not qualify. The deadline to qualify for the payment is Wednesday, July 30. Switch requests up to 11.59pm on the final day will be eligible.
In other news affecting savers, NS&I will soon be dropping the prize fund rate for Premium Bonds, from the August draw. The rate is to drop from the current 3.8 percent down to 3.6 percent, in the third reduction of the rate this year.
The odds of winning for each £1 Bond will stay the same, at 22,000 to one. The results of the August draw are set to be announced on August 2, as each month’s prize draw happens at the start of the month.
NS&I cut the rate from April, down from 4 percent to 3.8 percent, having previously axed the rate from the January draw, down from 4.15 percent to 4 percent. NS&I retail director Andrew Westhead said the provider had decided to bring down the rate again in light of “the changing landscape for savings”.
He told customers: “Premium Bonds maintain their unique appeal by offering complete security backed by HM Treasury, the flexibility to withdraw easily, and the excitement of potentially winning a tax-free prize each month. The August draw is expected to deliver more than 6 million tax-free prizes worth over £396million.”