Santander to pay free £65 to people 'who pay in £200 per month'

Santander is giving people who pay in £200 per month for 12 months the opportunity for a free £65. The email to customers and bank account holders has been sent out as Santander promotes its new five per cent rate on its Regular Saver.

In the email Santander wrote: "Dear [customer name], enjoy 5.00% AER/Gross (fixed) interest with our Regular Saver." It went on: "Here's the easy way to build your savings. If you'd like to start planning for your future we have some good news that may help you.

"As a Santander current account holder you can open a Regular Saver and get an interest rate of 5.00% AER/Gross (fixed) for 12 months. Pay in £200 per month for the full 12 months and make no withdrawals, and you'll get back what you paid in plus up to £65.01 interest (depending on your standing order date)."

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"With a Santander Regular Saver, save from £1 to £200 per month for 12 months paid by standing order from your Santander current account. You can change your standing order amount at any time. You'll need to be registered, or register for Online or Mobile Banking to manage your account. Withdraw funds by transferring into a Santander current account.

"You'll have the option to automatically renew your Regular Saver for a further 12 months with the rate and conditions that are available to new customers at the time." It then listed "important information you need to know" and went on: "We reserve the right to transfer your account to an Everyday Saver if you don't fund it from a Santander current account or if you deposit more than £200 per month.

"Our Everyday Saver currently pays 1.20% AER/Gross (variable) for balances of £1+. You can only have one open Regular Saver at any time. This product is subject to availability and can be withdrawn at any time.

"It's easy to open and start saving You can open a Regular Saver online or in one of our branches. Explore Regular Saver Not sure which savings account is right for you? View all savings accounts."