It’s the most generous switching deal on offer at the moment
Update 07/10/2026 – this offer has now ended. We have a full guide on bank switch offers if you want to find a bank switch offer that is currently running.
Santander’s back with a boosted switching deal that’s currently unbeatable.
You’ll need to switch to a Santander Everyday account to get the £240 cash and open a Santander Regular Saver pay in £200 within 60 days of requesting the switch.
Here’s what you need to know to get the free cash, and my analysis of how it compares to the other options available.
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How much can you get with the Santander switch offer?
This offer is £240 – significantly more than Santander’s last offer of £180.
You can only get one £240 bonus per person, so there’s no trick to double this with extra accounts or joint accounts. There’s also only one payment per joint account, so I’d suggest couples open up two separate accounts to maximise the cash they get.
Who can get the Santander switch bonus?
You can get £240 in cash if you switch to Santander’s Everyday current account and open its regular saver account, which pays 8%.
You won’t qualify if anyone named on the new account held a Santander current account on 1 January 2026 or has received a switch incentive from Santander before.
There are a few more hoops to jump through to get the cash, including paying £1,500 into your Everyday current account, setting up direct debits and opening a Regular Saver.
What are the requirements for the Santander switch offer?
There’s quite a bit you need to do with this switch, though you’ll find that these are also requirements for some of the accounts to earn ongoing cashback.
Complete a full switch via CASS
You have to use the Current Account Switch Service to transfer in from a current account held at another bank (this also excludes Cahoot and Carter Allen). This old account will be closed. You need to do this within 60 days of starting the switch process.
New applicants can switch via the website, app, phone or branch as part of your application.
Two active direct debits
You’ll need to set up two active direct debits within 60 days of the initial switch. These could include standing orders for the payment of your council tax, mobile phone, home phone, broadband, paid-for TV packages, and water, gas and electricity bills.
A £1,500 deposit
You must pay into the account at least £1,500 in the first 60 days. This can be a single payment, or multiple deposits. The money doesn’t have to stay in the account. You can spend it or transfer it out to a different account.
Set up a Santander regular saver and pay in £200
Finally, you’ll need to open and fund a Santander Regular Saver account held in your own name with at least £200 within 60 days of requesting the switch. This account pays 8% on up to £200 paid in each month for 12 months.
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When does the offer end?
The offer will be withdrawn on 7 October 2026, but could be pulled earlier.
When will the switch bonus be paid?
The bank will check you’ve met the conditions 60 days after you’ve started the switch, and pay the money within 30 days of this. So you’re looking at three months at most to get the cash.
However, it could be earlier. I got my cash in eight weeks a few years ago. You must keep your account open to get the money.
Is the Santander switching deal any good?
Yes, it is. The £240 cash offer is currently the most generous switching bonus at the moment, beating HSBC’s £220 switching deal by £20.
The Everyday current account is a very basic, fee-free account but you can sign up to Santander Boosts, its rewards scheme for cashback and other perks.
Another benefit is the access you get to the regular saver that pays an unbeatable 8% on your savings – albeit on just £200 a month – for 12 months. Be warned though, the rate is variable so could change at any time.
But it’s a decent deal with fairly straight forward requirements to get the cash – and there’s no reason to stick with the current account long term or use it as your main current account if you already have several.
Santander Everyday Current Account
Customer rating
3.9/5
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Switch bonus£180 switch offer
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Exclusive savings8% regular saver
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Monthly fee£0
- Switch bonus £180 switch bonus
- FSCS Protected? Yes
- Restrictions Can't have held any Santander current account on 1 January 2025, can't have received a switching bonus from Santander already, offer limited to once per person
- Switch bonus requirements Switch using the Current Account Switch Service and close your old account within 60 days of starting the switch, deposit £1,500 in the first 60 days from opening the account, Set up two Direct Debits before or after the switch from a selected list of household bills
- Fees No account fee
- Regular saver 8% (variable) regular savings account. Includes 5% (variable) bonus for 12 months
Other switching offers
A number of banks may also be offering an incentive to switch, so do look at the list below before deciding which to go for – you might be able to get one of those in before the Santander switch.
A quick note though, if you are opening new accounts (rather than switching into existing accounts) you will be credit checked on each application.
The best bank switch bonuses
Check out our list of all the bank switch offers you can get when opening a new current account
Previous Santander switch offers
- September to December 2021 – £130
- January to March 2022 – £140
- August to September 2022 – £160, then £175
- February 2023 – £200
- March 2024 – £175
- May to June 2024 – £150
- November to December 2024 – £150
- Early 2025 – £180
- December 2025 to 31 March – £200
