Is there a way to get an iZettle Chip and PIN card reader at a discount – let’s say, half price? Well, in fact, if you are a Santander business current account customer, there is. Here is how you can get it.

Update 2016: Santander no longer offers cashback for its customers if they purchase an iZettle Reader. For the latest best offers for potential iZettle UK customers, please check out our comprehensive review.

The Santander and iZettle partnership

Banco Santander has made a bet on iZettle in the competitive mobile payment market with a strategic investment in iZettle exceeding €5 million. The largest bank in the Eurozone, Santander is a heavyweight in Spain and Latin America, but also holds significant positions in other key markets such as the United Kingdom, Germany and the United States.

What this means for small businesses based in the UK: Banco Santander customers with a business current account get 50% cashback off the cost of their iZettle terminal.

How to obtain 50% cashback on the cost of the iZettle terminal

Here are the steps you should follow:

  • Sign up for an iZettle business account and pay for the card reader. The reader is normally priced at £59 including VAT, but can be obtained for a discounted rate through this link.
  • Link your Santander bank account to your iZettle account.
  • Start accepting credit/debit cards.
  • After your first iZettle transactions add up, you will automatically receive the 50% cashback in your Santander bank account.

Also, if you claim your iZettle card reader between 3 November and 31 December 2014, you will also get fee-free transactions for a month for amounts up to £2,000. The fee-free offer is valid for a month following a successful registration.

You can consider the first month as a test period, as you get you money back in case you are not completely satisfied with the device.

Yes – it’s that easy.