Overview
- Santander is offering £200 for switching to an eligible Edge account, while First Direct and Nationwide are each paying £175 to new current‑account customers who qualify.
- Nationwide says eligible switchers will receive the £175 during January once requirements are met, has advertised the push publicly, and has not confirmed an end date for the offer.
- All deals require a full Current Account Switch Service transfer that closes the old account, typically moving payments within seven working days and bringing over at least two active Direct Debits.
- Typical conditions include minimum pay‑ins and debit card usage, with notable exclusions for previous bonus recipients or past customers, such as First Direct/HSBC since 2018 and Nationwide bonuses since 2021.
- Payout schedules differ by provider, with guidance citing Santander paying up to 90 days after criteria are met, Nationwide around 10 days, and First Direct by the 20th of the following month, and some accounts carry fees that can reduce the net benefit.