September 05, 2011 07:41 ET

Santander Launches Major New Current Account Switching Offer

Customers Could Earn Up to £300 Cashback and 5% In-Credit Interest by Switching Their Main Current Account to Santander

LONDON, UNITED KINGDOM--(Marketwire - Sept. 5, 2011) - Santander is launching a major new current account switching offer on 5 September 2011, completely unique in the UK market, which will pay up to £300 cashback to customers who switch their main current account to Santander.

In recognition of their relationship with Santander, existing Santander mortgage customers who either already have, or can deposit £10,000 in Santander savings and switch their main current account to Santander will earn £300.

Existing mortgage customers who don't have £10,000 in savings but switch their current account will get £200.

And, in keeping with Santander's previous 'switcher' offers, any new customer who switches their main current account to Santander will earn £100.

This offer will be available in branch, by phone and online from 5 September for a limited time only, and is for customers who switch to Santander's best buy Preferred Current Account or its Reward or Premium current accounts, all of which pay a market-leading 5 per cent AER in-credit interest for 12 months.

Nici Audhlam-Gardiner, banking director at Santander, said: "We believe our customers deserve to be rewarded, so we've launched this great new incentive which means the deeper your relationship with Santander, the more you'll earn in rewards. With up to £300 available to existing Santander mortgage customers who switch their main current account to us, we think this offer is upping the stakes especially for customers who never thought it was worthwhile to switch bank accounts before.

"Our market-leading Preferred Current Account has been ranked a 'best buy' by Moneyfacts, and it, together with our Reward and Premium current accounts, pays 5 per cent in-credit interest, the highest rate in the entire market."

About Us

Santander UK plc is a full-service retail and commercial bank providing services such as car insurance products to 32 million customers, with more than 1,400 branches and around 4,200 cash machines. It is a wholly owned subsidiary of Banco Santander. Santander UK plc is autonomous from its parent in terms of capital and liquidity, raising its own funds to run its business. Over 95% of the assets on Santander UK plc's balance sheet are UK based, and it is subject to full supervision of the Financial Services Authority (FSA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

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