Santander offers £100 to new customers

Abbey and Alliance & Leicester (A&L) are offering new customers a £100 incentive to switch to their current accounts.

The Santander-owned banks are offering the bonus to new customers opening an Abbey Preferred Overdraft Rate account or an A&L Premier Account from today.

To receive the cash bonus, customers must fund the account with a minimum of £500 per month at A&L, or £1,000 per month at Abbey.

The Abbey account includes a 12-month interest-free overdraft of up to £5,000.

Both accounts pay 0.5% interest on in-credit balances of up to £2,500.

Santander said the £100 bonus is “good news” for anyone looking to switch current accounts.

“It is time that people started looking for real value, and beyond the traditional big-name banks,” said Gillian Almond, Santander UK’s head of current accounts.

Consumer advice site creditchoices.co.uk said the accounts were already “two of the most attractive” on the market, and that the £100 bonus “simply sweetens the deal”.

“This is the third time this year that Alliance & Leicester has offered this deal, but each time it has only been available for a limited period. So, if you want to make the most of it, act fast,” said Chris Eagle, creditchoices.co.uk commercial manager.

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