Bank change offers for Santander, HSBC, Nationwide and RBS – with offer £ 130

Six of the UK’s biggest banks are offering customers up to £ 130 to switch accounts.

And the good news is, there’s plenty of time to get most of these rewards before Christmas if you’re interested in making the switch.

Santander is currently offering the most money – giving customers £ 130 to move their checking account.

HSBC is offering £ 110 in cash and £ 30 in Uber Eats vouchers and Nationwide pays £ 100 for new customers, or £ 125 for existing customers, while RBS will donate £ 100.

If you prefer to invest your money in one day, Virgin Money will give you a £ 150 ‘experience’ gift card.

For any change offer you are interested in, you will need to meet the terms and conditions before you apply, otherwise you will not get the money.

READ MORE: Sainsbury’s confirm drastic £ 200 change for all buyers

You also need to make sure that the bank account you switch to is right for you – don’t just come by for the cash reward.

Finally, be sure to change using the Current Account Change Service (CASS) to get these rewards.

Here’s a breakdown of how each switch works, according to the Mirror:

Santander – £ 130 plus cash back

Santander is offering £ 130 to new customers who access their Santander 123 Lite account.

With this account, you have to pay a monthly fee of £ 2 to keep it open, but you get a refund on bills paid by direct debit.

You can get up to £ 5 per month in each ‘tiers’ eligible for reimbursement.

This is broken down as follows: 3% for water, 2% for energy, 1% for housing tax, mobile phones, broadband, pay TV & Santander mortgage loans.

To get the refund you must pay at least £ 500 to this account each month and be new to Santander, or if not, switch from a non-Santander account to your existing account.

To make the change, you must, within 60 days of the start of the process:

  • Set up at least two active direct debits
  • Put at least £ 1000 into the account
  • Connect to online or mobile banking

Santander says his change offer will end on October 21, 2021 – but you may not receive the money by Christmas if you leave it until then.

This is because the bank says it will assess your account 60 days after the change is requested to decide if you qualify for cash.

If you qualify, it can take up to 30 days for the money to arrive in your account.

This means that you will need to start the transfer process by September 25th to ensure that the money arrives by December 24th.

Nationwide – £ 125 (existing customers) or £ 100 (new customers)

If you are an existing Nationwide customer, you can get £ 125 by choosing them as your current account provider, or new customers will receive £ 100

The £ 100 offer is available on a range of Nationwide accounts, but the “exceptional” offer is the free Nationwide FlexDirect according to experts at MoneySavingExpert.

This account offers a 0% overdraft for one year before converting to 39.9% EAR thereafter.

If you already have a FlexDirect, FlexAccount or FlexPlus account, you must use Nationwide online banking to change the account you have with another provider in order to claim the £ 125 bonus.

Customers across the country can also open any of the above three Flex accounts and request the change.

To make the change, you must, within 30 days:

  • Set up at least two active direct debits

There is no minimum wage.

Nationwide has also not said how long this deal will last, but it can be stopped at any time.

In its general conditions of the offer, the bank indicates that it will credit the transfer payment to your current account within 10 calendar days of the end of the complete transfer.

It typically takes seven business days to move bank accounts using CASS.

This means that if the offer were to last until Christmas, you would have to change by December 3rd to get the money by December 24th.

But that may not last until December, so if you’re tempted to change, you better do it sooner rather than later.

HSBC – £ 110 and £ 30 Uber Eat vouchers

HSBC’s banking incentive is £ 110 in cash and £ 30 in Uber Eat or The Dining Out vouchers for a total of £ 140 in benefits.

You can claim them by switching to the HSBC Advance account free of charge and paying at least £ 1,750 per month.

You must also be approved for an arranged overdraft of £ 1,000.

Finally, you cannot have an HSBC current account and must not have been or after January 1, 2018.

To make the change, you must, within 30 days:

  • Set up at least two active direct debits or standing orders
  • Pay in £ 1,750

Again, HSBC has not said when this switch offer will end.

He says he’ll pay you the £ 110 plus £ 30 vouchers within 20 days of completing the change – so factor in the seven working days it takes for that, and you’ll need to apply by November 24 for get the money by Christmas.

RBS – £ 100 plus £ 3 per month

RBS and its sister bank Ulster are offering an incentive of £ 100 to move your account.

MoneySavingExpert says the account it recommends switching to is RBS Reward, which charges a monthly fee of £ 2, but then pays £ 5 per month if you have two direct debits and log into their online banking.

That means you’re technically up £ 3 per month.

And if you stick to that account, you’ll be rewarded with an additional £ 50 in November 2022 – provided you’ve paid £ 1,250 per month (its minimum amount) and completed ten transactions between January and September.

For new customers, you must sign up for an RBS Select, Reward, Premier Select or Premier Reward account.

Or for existing customers who already have one of these accounts, you will need to transfer a non-RBS checking account to your existing qualifying account.

To complete the change you must:

  • Pay in £ 1,500
  • Log into online or mobile banking before December 30, 2021

RBS says this offer is only available until 5 p.m. on November 18, 2021 and says the money will be paid out on or before January 28, 2022.

It is not clear whether this January date applies to those who qualify on the last dates of the offer.

We have asked RBS for more information and the likelihood of the bonus arriving before Christmas and will update this article when we know more.

Lloyds Bank – £ 100 and free movie tickets

Upgrade to a Club Lloyds account and you’ll get £ 100 plus one of four perks of the year:

  • 12 digital movie rentals
  • Six cinema tickets
  • Magazine subscription
  • Membership of the Gourmet Society

For this account you need to pay at least £ 1,500 per month. There is a monthly fee of £ 3, but it is refunded if you hit the minimum wage.

To get the cash bribe, you must change by October 19, 2021.

Lloyds says he’ll then pay you the £ 100 ten days after your change is complete, which means you’ll get the money in time for Christmas.

There is no mention of the need to switch direct debits to be eligible for the tipping bonus.

You will not be eligible for switch cash if you have received a switch bonus from Lloyds since April 2019 or wish to upgrade an existing Lloyds account.

Virgin Money – a £ 150 voucher

Instead of cash, Virgin Money will give you a £ 150 voucher to use towards Virgin Experience Days.

He also pays AER variable interest income of 2.02%, but only up to £ 1,000.

To make the change, you must, within 45 days:

  • Set up at least two active direct debits
  • Sign up for mobile banking

  • Keep at least £ 1000 in the linked 0.35% savings account until you get the gift card

You will not be eligible for the gift card if you have already received a substitute gift from Virgin Money, or if you have a checking account with Virgin or its sisters Clydesdale or Yorkshire Bank, since March 21.

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Nancy Owens

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