Santander to axe retailer offers: What you need to know
Debit and credit card customers currently earn up to 15% cashback when spending at a host of retailers, by switching on deals via online or mobile banking.
Current retailers include 10% cashback at Esso with app payments, 10% of Harvey Nichols and 10% off Amazon Fresh, to name a few.
However, retailer offers will be withdrawn from 17 November 2022.
This means you will no longer be able to activate deals after this date. But you can activate as many offers before then and they will then be valid for the specific time as per the individual retailer’s terms and conditions, though no later than 31 December.
However, you won’t be able to view the terms of any specific offers you’ve selected, so it may be an idea to jot down the expiry date when you activate the offer before 17 November.
Santander added that for certain offers which require a specific number of direct debit payments, such as a new utility subscription, the last qualifying payment must be paid by 31 December.
It confirmed final cashback payments will be made on or shortly after the last business day of January 2023.
Customers also have the option of switching off retailer offers before the scheme closes and here, any pending cashback earnings will be paid as long as your chosen account is still open.
You can view cashback earned and pending cashback in the mobile app or online banking until 17 November. After that date, payment data will appear in your transaction history and statements.
Santander Boosts will be the “new and improved way” for customers to earn cashback, as well as offers and “much more”, though details are limited.
Current retailer offers customers won’t automatically get access to it – you’ll need to register for it but Santander said this will be free.
As now, it will be available to debit and credit card customers. Santander said it will be releasing further information about the new scheme soon.
A Santander spokesperson, said: “Retailer offers will be withdrawn from 17 November 2022, however customers can continue to earn cashback until 31 December 2022. We are pleased to announce we will shortly be launching Santander Boosts, a new and improved rewards programme and more details will be shared nearer the time”.