Santander customers could receive a £100,000 cash boost thanks to the financial institution's latest prize draw scheme, but who is eligible to apply for this deal?
The major high street bank has unveiled an eye-catching incentive scheme aimed at attracting university students to its current account offering.
Earlier this morning, Santander UK announced that new customers signing up for its Edge Student account could potentially secure a life-changing £100,000 windfall.
The financial institution guarantees that every participant in the promotional campaign will receive a cash reward, with a minimum payout of £20 assured for all entrants.
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The competition features multiple prize tiers, with rewards ranging from £20 to the top prize of £100,000.
Five runners-up will each receive £10,000, whilst 50 participants can win £1,000 and a further 1,000 students will secure £100 prizes.
Students must open their Edge account between July 22 and October 17, 2025 to qualify for entry.
Participants need to complete at least one debit card purchase by December 31, 2025 to enter the draw.
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Each transaction counts as a single entry, with monthly participation limited to 40 entries per customer. Winners are restricted to one prize each in the competition.
Potential customers are also being reminded that Santander's Edge Student account provides substantial benefits beyond the prize draw opportunity.
Account holders receive a complimentary four-year Santander 16-25 Railcard valued at £115, enabling one-third discounts on rail travel throughout Britain and London Underground journeys when paired with an Oyster card.
Students can access an interest-free overdraft starting at £1,500 for their initial three years of study. This facility extends to £1,800 in year four and £2,000 for fifth-year students, subject to approval and continued enrolment.
Additional perks encompass fee-free cash withdrawals at Santander ATMs internationally, a five per cent AER Regular Saver account, and rewards through Santander Boosts.
The account includes spending analysis tools via My Money Manager and supports contactless payments across multiple digital platforms.
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Chris Knight, the head of Customer Value at Santander UK, emphasised the bank's commitment to supporting students during their transition to financial independence. "For many, university is the first time students get a real taste of freedom and alongside that, start to manage their own finances," he stated.
Knight acknowledged the financial pressures facing students, adding: "We all know how costly it can be. That's why we want to help."
The Edge Student account can be opened through digital channels or at branch locations, welcoming students at any stage of their studies.
Furthermore, the bank provides supplementary financial guidance, including budgeting strategies and cost-cutting advice for everyday expenses.