Santander has announced it is giving its customers the chance to “win” up to £20,000 back, they just need to do this one thing to be entered into a prize draw.

It comes as the major high street bank has sent a letter to its account holders explaining how they could “win” back their funds by investing at least £1,000.

Santander explained: "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."

Santander customers could 'win' up to £20,000 back a month

The investment prize draw is open to new and existing Investment Hub customers and they will be “automatically” entered “if you invest at least £1,000 into a Stocks and Shares ISA or an Investment Account before 30 April 2024.”

The Santander website shared: “One person will win back their investment (the total amount invested before 30 April 2024) up to maximum of £20,000.”

As well as an April winner, one will be announced in May and June in 2024, reports The Mirror.

"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,” Santander clarified.

"Prize Draw 3. 01/06/24 - 30/06/24. TandCs apply. Capital is at risk."

Wimbledon Times: Do you have a Santander Stocks and Shares ISA?Do you have a Santander Stocks and Shares ISA? (Image: Laura Lean/PA)

You can find more information on the Santander investment prize draw here.

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Santander has also issued the following caution to customers: “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."

The statement warned: "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."

Santander advised account holders: "Never take things at face value. Criminals pretend to be people you trust. Always make sure you really know who you're talking to."