Santander introduces 12 month interest-free period on zero credit card

From 20 February 2019, Santander is introducing a 12 month interest-free period on all purchases made using its Zero Credit Card. The card previously came with an industry standard 56 day interest-free period.

The Santander Zero card has no monthly fee and, with no foreign transaction fees on purchases and cash withdrawals made abroad in the local currency1, the card is designed to support customers with holiday spending and budgeting.

The addition of this interest-free period makes Santander the only high-street bank which offers an extended zero per cent purchase period alongside zero fees on purchases made abroad – helping customers manage their holiday spending and budgeting.

Ian Thompson, Head of Unsecured Credit at Santander said: “Whether it’s a family holiday, or you’re flying solo for the trip of a lifetime, sorting out the most effective way to spend can help you focus on the important stuff – having a good time.

“With no hidden fees on foreign spending or cash withdrawals, the addition of a 12 month interest-free period for purchases made with our Zero Credit Card allows holidaymakers the extra peace of mind that the cost of their holiday can be repaid over a longer period of time with no extra cost to them.”

Santander is committed to the Standards of Lending Practice and will lend responsibly, working with customers to ensure that the product offered meets their needs and is affordable. If customers would like to talk to someone about managing their finances, or if they are having difficulty, we would encourage them to contact us on 0800 9 123 123 or visit us in branch. 

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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. Customers will be able to withdraw cash abroad without any cash withdrawal fees or charges, however, cash withdrawals will not count as purchases or be included in the 12 months 0% purchase deal so customers will be charged interest on the amount of cash withdrawn unless this is paid back by the end of the month.

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2018, the bank has c23,800 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 64 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of 2018, Banco Santander had EUR 981 billion in customer funds (deposits and mutual funds), 144 million customers, 13,000 branches and 200,000 employees. Banco Santander made attributable profit of EUR 7,810 million in 2018, an increase of 18% compared to the previous year.

Media Enquiries

Samantha Wrench      T: 0207 756 4209      M: 07544 158 565      E: Samantha.wrench@santander.co.uk

Miranda Seymour        T: 0207 756 4189      M: 07860 857 999      E: Miranda.seymour@santander.co.uk

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