Santander customers could make £20,000 with £1,000 in their account | Personal Finance | Finance

Santander could be set to make one of its customers up to £20,000 richer.

The bank is currently encouraging its customers to invest a minimum of £1,000 in a Santander Stocks and Shares ISA 2024 to enter a draw.

The lucky winner has the chance to “win” back their investment amount, capped at an impressive £20,000.

In a letter to customers, Santander said: “Invest at least £1,000 in a Santander Stocks and Shares ISA 2024 to be in with a chance of winning the value of your investment back, up to a maximum of £20,000.”

The bank has revealed plans to select a fortunate winner for each month during the period of April through to June 2024, reports the Mirror.

Highlighting some specifics, Santander explained: “UK tax residents, 18+ only. New and existing Santander customers with Investment Hub account only. Invest at least £1,000 using an Investment Hub account to enter. Qualifying period for Prize Draw 1. 06/04/24 – 30/04/24 Prize Draw 2. 01/05/24 – 31/05/24.”

“Prize Draw 3. 01/06/24 – 30/06/24. TandCs apply. Capital is at risk.”

For those considering this offer, the bank clarified that their Investment Hub offers several avenues for investment, empowering customers to make their individual investment decisions.

As per Birmingham Live, options for customers include investing “using our Digital Investment Adviser” or “arranging an appointment with one of our advisers (eligibility criteria apply).”

However, the high street banking giant also issued a word of caution to potential participants: “Your capital is at risk and you may get back less than you invest. Investments should be held for the medium to long term, typically for at least 5 years or more.”

In a statement, the bank cautioned: “Protect yourself against fraud and scams. Never share a Santander One Time Passcode (OTP) with another person. Not even a Santander employee. Never move your money to a new account for security reasons. If you’re asked to do this, it will be a scam.”

The bank’s advice concluded with: “Never take things at face value. Criminals pretend to be people you trust. Always make sure you really know who you’re talking to.”