Santander is the latest bank looking to entice new customers and reward existing ones
Santander UK has rolled out a new prize draw offering current account holders the opportunity to scoop a portion of £100,000 in cash prizes each month.
The scheme, which went live on August 1, also features a bumper £250,000 jackpot that will be awarded to a single winner in January 2027.
The monthly draws will run from August through to December, with the bank distributing prizes across several tiers each month.
All entries accumulated during that five-month period will then be automatically pooled into the mega draw at the start of next year, giving customers multiple chances to land the quarter-million-pound top prize.
Customers can secure up to three entries into each monthly draw by completing a trio of straightforward banking activities.
One entry is earned by maintaining a minimum balance of £100 in a Santander current account on the final day of the month.
A second entry can be gained by holding at least £100 in a Santander savings account at month's end.
The third and final entry is available to those who make a purchase of any value using a Santander credit card during the qualifying month.
Each activity counts for a single entry, meaning customers who complete all three will maximise their chances in every draw.
The monthly prize pot breaks down into a single £25,000 top award, two prizes of £10,000, fifty £500 payouts, and three hundred £100 wins.
Beyond the standard £100,000 distributed each month, the mega draw in January will add a standalone £250,000 prize for one lucky entrant.
Among the products that qualify for entries is Santander's recently introduced Regular Saver, which pays 8% interest on deposits of up to £200 per month.
The bank's Rewards Credit Card is also eligible, offering 3% cashback on dining out, takeaways, and everyday travel spending during the first 12 months.
Gail Russell, the head of Everyday Banking at Santander UK, said: "We're always looking for ways to reward our customers and help them get more from their everyday banking.
"This new prize draw gives customers the opportunity to win cash prizes for going about their everyday banking activities, whether that's keeping money in their accounts or using their Santander credit card for day-to-day spending."
Registration is open through the Santander mobile banking app, online banking, in branch, or by telephone, with further details available on the bank's website.
