Martin Lewis offers £100 in grocery vouchers for opening new Santander bank account – for a limited time

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A major high street bank is offering customers the chance to land £100 in supermarket vouchers through Martin Lewis’ website, Money Saving Expert (MSE), if they open – and use – a new Santander bank account.

Many banks and building societies offer a cash switch bonus to move your primary account elsewhere, but this offer is slightly different.

Running until 26 August, new customers to Santander opening an Edge account will have the chance to pick up the voucher to spend just before Christmas at any of Tesco, Sainsbury’s, Morrisons, Asda or Waitrose – but there are some hoops to jump through to get it.

The account must be opened via the links on MSE’s site, then you need to spend at least £200 across four separate card transactions in each of September, October and November at grocery stores and supermarkets. Eligible customers will then get an email in mid-December to claim the voucher within 30 days.

It is important to note that the Edge account comes with a £3 monthly charge, but offers wider benefits including 1 per cent cashback on bills, access to a savings account offering a 6 per cent interest rate and another regular saver account paying 8 per cent.

However, if you’ve had a similar bonus in the past year from Santander, including their switcher bonus, you won’t be eligible for this supermarket voucher and it also could preclude you from future cash switch bonuses which tend to be for higher amounts. Santander’s last one, which ended in July, was for £180.

Right now, there are several other banks and building societies who are still offering such a switch bonus.