Santander to pay 'free payment' into bank accounts with £500 in them

Santander to pay 'free payment' into bank accounts with £500 in them
-Credit: (Image: Reach Publishing Services Limited)


Santander says it will COVER the Edge Account fee for a year - in a major boost to bank account holders. As we head towards Christmas, Santander says new Santander current account customers can get £36 when they open a Santander Edge current account, covering the normal £3 monthly account fee for a year – without having to switch.

The Santander Edge current account allows customers to earn up to £20 a month in cashback as well as offering holders access to the Edge Saver paying 6.00% AER on balances up to £4,000. The offer is open to both new and existing customers who do not currently hold a Santander current account.

Customers do not need to use the Current Account Switch Service to be eligible for the offer. Edge customers also benefit from access to the Santander Edge Saver, an easy access account which pays 6.00% AER / 5.84% gross (variable) interest on balances up to £4,000.

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Saver customers can earn up to £233.60 a year in interest and as an easy access account, customers can withdraw and deposit funds when they like. Andrea Melville, Director of Current Accounts and Savings at Santander said: “Our Santander Edge current account is incredibly popular with our customers thanks to the long-term value it offers, with ongoing monthly cashback and fee-free spending abroad. We are pleased to be able to launch this latest offer to enable more people experience the benefits of our Edge account.”

To qualify for the £36 payment customers must open a Santander Edge current account between 9 September and 7 October 2024, deposit £500 into the account within 30 days of opening and the account must remain open on the day Santander pays the £36 incentive into the account.

Customers who already hold a Santander current account on 8 September 2024 are not eligible for this offer, as well as customers who have previously received an incentive payment to open a Santander Edge current account.