Santander paying customers who have £5,000 in account free money for Christmas

Santander has launched a new ISA transfer cashback offer allowing customers to earn up to £1,000 when they transfer their existing ISA - whether a cash ISA or stocks and shares ISA - into a Santander Stocks and Shares ISA.

Santander is paying customers a free £1,000 cashback - depending on how much they have in their bank account. Santander has launched a new ISA transfer cashback offer allowing customers to earn up to £1,000 when they transfer their existing ISA - whether a cash ISA or stocks and shares ISA - into a Santander Stocks and Shares ISA.

Transfers must be made through the bank’s online Investment Hub and Financial Planning Service and the offer runs until 1 December 2024. To qualify, customers must transfer at least £5,000 from an existing ISA into a new or existing Santander Stocks and Shares ISA during the offer period.

Transfers must be completed by 31 March 2025 for cashback to be paid by 1 May 2025. The cashback is tiered, meaning the more customers transfer, the more they can earn. For £5,000 - £9,999 in accounts, Santander has £50 cashback, while for £10,000 - £24,999 balances, it is £100 cashback.

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£25,000 - £49,999 bank account balances means £250 cashback, £50,000 - £74,999 bank account balances mean £350 cashback, while £75,000 - £99,999 means £500 cashback and £100,000 means £1,000 cashback. This exclusive offer is available to all UK residents aged 18 and over, whether they are new or existing customers, with an Investment Hub account and applies on the ISA transfer balance invested and not new ISA contributions.

Customers can choose to invest online through the Investment Hub by making their own investment decisions; using Santander’s Digital Investment Adviser; or by arranging an appointment with one of the bank’s advisers (eligibility criteria apply). Customers can pick from over 850 investments funds from across the market, including a range of responsible and sustainable funds.

Santander offers a Savings and Investments Calculator which enables potential investors to see comparative predicted returns on their money for savings or investment options and the relative risks of both.