Santander customers could get £20,000 if they have £1,000 in bank account

The high street bank has told customers they would feel like a winner by investing and getting £20k back in their bank accounts.
-Credit:No credit

Santander customers could be in with the chance of pocketing up to £20,000 in return for their investment.

The banking giant has announced a new initiative encouraging customers to invest, claiming they could "win" the cash, with prizes being dished out every month.

In its message to the customers, Santander states: "Invest at least £1,000 in a Santander Stocks and Shares ISA 2024 to be in with a chance of winning the value of your investment back, up to a maximum of £20,000."

The high street bank will be picking one fortunate winner each month through April, May, and June 2024.

The bank adds: "UK tax residents, 18+ only. New and existing Santander customers with Investment Hub account only. Invest at least £1,000 using an Investment Hub account to enter. Qualifying period for Prize Draw 1. 06/04/24 - 30/04/24 Prize Draw 2. 01/05/24 - 31/05/24".

Further details clarify the schedule: "Prize Draw 3. 01/06/24 - 30/06/24. TandCs apply. Capital is at risk," reports Birmingham Live.

Expanding on the diversity of investing, it continues: "Everybody's different, so we like to give you choices of how you invest through our Investment Hub."

Customers can take control of their investments online via the Investment Hub. Other options for investment include "using our Digital Investment Adviser" or by "arranging an appointment with one of our advisers (eligibility criteria apply)."

Santander cautioned its customers: "Your capital is at risk and you may get back less than you invest. Investments should be held for the medium to long term, typically for at least 5 years or more."

The bank further advised: "Protect yourself against fraud and scams. Never share a Santander One Time Passcode (OTP) with another person. Not even a Santander employee. Never move your money to a new account for security reasons. If you're asked to do this, it will be a scam."

"Never take things at face value. Criminals pretend to be people you trust. Always make sure you really know who you're talking to."

Join our Daily Record Money WhatsApp community here to receive alerts on the latest money news from benefits to shopping deals.