Santander is paying customers free £50 each over next two weeks

The voucher can be spent at over 100 outlets, including restaurants, supermarkets and clothes stores.

Santander is paying customers a free £50 payment within days. Santander will make the gesture amid the ongoing Cost of Living crisis, as it rolls out vouchers for retailers for customers to use to help tide themselves over as we approach Christmas.

In an update to bank account holders, Santander - which is rivalled by the likes of HSBC UK, Royal Bank of Scotland, TSB and Nationwide - said it has launched a range of new Fixed Rate ISA products, with a £50 retail voucher offer for customers transferring £10,000 or more from a non-Santander ISA.

Santander, which also counts the likes of Lloyds Bank, Barclays, NatWest, and First Direct among its rivals, said it also offering £50 cashback as an e-voucher to customers who transfer an ISA of at least £10,000 from another provider into a Santander Fixed Rate ISA. The voucher can be spent at over 100 outlets, including restaurants, supermarkets and clothes stores.

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The new range of ISA products, which can be opened online or in branch from today, are a 1 Year Fixed-Rate ISA - 4.31% AER/ tax-free (fixed), 18-month Fixed-Rate ISA - 3.91% AER/ tax-free (fixed) and also a 2-year Fixed-Rate ISA - 3.81% AER/ tax-free (fixed)

Customers will receive their code to redeem their voucher automatically by email within 14 days of the completed transfer. Santander is part of the industry ISA transfer scheme and has dedicated teams in place to process customers’ ISA transfer requests, making it quick and easy for customers to transfer an ISA from another provider to Santander.

More information about Santander’s fixed rate ISAs and savings product can be found on the Santander website and in branch. The £50 e-voucher is subject to availability and may be withdrawn at any time. More information on how customers can redeem their voucher can be found online.