Santander UK has announced it has launched a new prize draw giving current account customers the chance to win a share of £100,000 in cash prizes every month, alongside a £250,000 mega prize draw at the end of the year.

From 1 August, Santander UK current account customers can earn one entry into the monthly prize draw for completing any of the following three activities, up to a total of three entries each month:

• Holding at least £100 in a Santander current account on the last day of the month

• Holding at least £100 in a Santander savings account on the last day of the month

• Making a purchase of any amount using a Santander credit card during the month.

Eligible accounts include Santander’s recently launched Regular Saver which pays 8% interest and allows deposits of up to £200 per month, and the Rewards Credit Card which offers 3% cashback on eating out, takeaway and every day travel spend for the first 12 months.

Each monthly draw will offer:

• 1 x prize of £25,000

• 2 x prizes of £10,000

• 50 x prizes of £500

• 300 x prizes of £100

As well as the monthly draws, every entry earned between August and December will automatically be carried forward into a mega prize draw, where alongside the standard £100,000 prize pot, one customer will win a single £250,000 cash prize in January 2027.

Gail Russell, 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.”

Customers can register for the prize draw through the Santander mobile banking app, Online Banking, in branch or over the phone and details can be found on the Santander UK website.

Monthly draws will take place after the end of each qualifying month, with winners selected and prizes paid by the end of the following month.