Current account holders who want to take advantage of Santander’s five per cent interest rate account and the £100 switching incentive being offered, need to ensure they apply before midnight on 12 December.
The offer is available to anyone who wants to take out a current account with the Spanish chain of high street banks. The £100 bonus cash payment will be paid into new customers' accounts within 11 weeks of them opening it.
Santander’s head of current accounts, Gillian Almond, said, "Only seven per cent of people in the UK have switched their current account in the past year, which means the overwhelming majority of account holders are potentially missing out on great benefits by not shopping around."
The Santander Zero current account is the only one that does not charge customers for going over their overdraft limit or for spending money on their card abroad, although most other banks have also recently reduced their fees.
The banking group is also offering extras such as travel insurance and Greenflag breakdown cover if they pay a little extra for the Reward account.
Recent research suggests that three quarters of bank account customers have never thought about switching accounts.
Financial News
