Santander contacts students with cost of living advice ahead of new academic year

With many university terms about to begin, Santander, the largest student account provider, has been proactively contacting all new and existing student account customers to provide them with specific advice on how to manage their finances in light of the increases in the cost of living. 

1I2I3 Student Current Account customers accessing their mobile banking app or online banking, will be referred to the bank’s ‘Ways to Cut Spending’ webpage, which contains tips and advice for students on how best to manage their spending while at university.  The site also links to the UCAS money management pages, which include financial support being offered by universities as well as available discounts. 

Josie Clapham, Director of Financial Support at Santander commented: This academic year, students across the country are facing some really difficult decisions about how best to manage their money with the cost of living impacting everyday expenses.

“Whether students are away from home for the first time trying to get their heads around energy bills or simply facing a new academic year with less in their pockets, we want to give them helpful tips, guidance and the support they need to make the right financial decisions. If students – or anybody – are facing difficulties, we would urge them to open up and talk to us at the first signs of money worries so we can find ways to support them.”

Santander’s 1I2I3 Student Current Account comes with a free four-year Santander 16-25 Railcard providing students and apprentices (levels four to seven) with a third off standard rail fares across Great Britain, saving an average of £636 over the duration of the four-year Railcard1. In addition, the account provides a guaranteed interest-free arranged overdraft for customers accepted for the account with £1,500 in the first three years of study, £1,800 in the fourth year and £2,000 in the fifth year (if students continue with their studies).

Santander Universities is also offering 200 UK students a chance to receive a grant worth £500. Both undergraduates and postgraduates can apply for the grant2, which can be used towards living expenses or to purchase a variety of resources directly from Santander Aspire webstore, including laptops, printers, internet data and much more.  Students can apply by registering on the Santander Scholarship Platform and enrolling into the prize draw. The deadline for applicants is 11pm on the 31 October 2022. 

Santander is proactively identifying and contacting customers who may be experiencing financial pressures as a result of the increases in the cost of living and has, to date, contacted almost two million customers to provide them with help and support with managing their finances. 

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors 

1-    Average savings made by 16-25 Railcard holders between April 2021 and March 2022, excluding price of Railcard multiplied by four years is £636. 
2-    Full eligibility terms and conditions can be found here:…;

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 June 2022, the bank had around 18,000 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK

Banco Santander (SAN SM, STD US, BNC LN) is a leading commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of the first half of 2022, Banco Santander had €1.2 trillion in total funds, 157 million customers, of which 26 million are loyal and 50 million are digital, 9,200 branches and 200,000 employees.