• Santander 1|2|3 Student Current Account, available to students and apprentices (levels four to seven)
• Free four-year Santander 16-25 Railcard saves on average £199 a year1
• £1,500 fee-free overdraft and 1% interest on balances up to £2,000
• Up to 15% cashback on debit card spending at a range of retailers2
It’s a start to the university year unlike any before, but as thousands of young adults across the UK prepare to embark on their journey into higher education, one thing hasn’t changed - Santander continues to offer them its 1|2|3 Student Current Account uniquely tailored to their needs.
To help students through their journey, the account includes a free four-year 16-25 Railcard, exclusive to Santander student customers, which gives them a third off standard rail fares. As lockdown measures are eased and more people return to train travel, students will benefit by saving an average of £199 every year with their four-year Railcard. Santander’s Railcard is available to full time students in higher education as well as school leavers taking up higher or degree level apprenticeships3.
Hetal Parmar, Head of Banking, Santander said: “University life and apprenticeships may look very different this year for many, but this time of life still brings with it the first big step towards financial independence. Our highly popular 1I2I3 Student Current Account continues to give great value and provide the financial support students and apprentices need at this exciting time in their lives.”
Last year, Santander retained its position as the largest provider of new student accounts with just under a third of all student account openings taking place with Santander4.
Santander’s 1|2|3 Student Current Account is available online and to all students, regardless of their year of study. In addition to the four-year Railcard, the Santander account offers:
- An interest and fee-free arranged overdraft of £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);
- In-credit interest of 1% on balances up to £2,000;
- Additional cashback of up to 15% on debit card spending at major retailers through Retailer Offers, which helps students stretch their money that little bit further;
- Access to exclusive 1I2I3 World benefits including preferential deals on other financial products.
Since 2007, Santander Universities has invested more than £90m in supporting UK students and universities. The bank supports higher education with a number of schemes aimed at improving access to education, entrepreneurship and employability. Santander Universities has 85 direct UK University partnerships and more than 1,100 globally.
To open an account, or for more information, visit: www.santander.co.uk/student
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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:
Student case studies are available
1 The 16-25 Railcard saves on average £199 a year, according to www.railcard.co.uk/
2 More detail on Retailer Offers can be found here.
3 Level four to seven.
4 Santander had a 32 per cent market share of new student account openings in 2019, making it the largest provider of new student accounts in 2019 according to data from CACI.
Santander’s 1|2|3 Student Current Account:
Credit interest on the balance:
• 1.00 per cent AER/gross (variable) on balances up to £2,000
Interest-free and fee-free arranged overdraft:
• £1,500 in years 1, 2 and 3
• £1,800 in year 4
• £2,000 in year 5
VISA debit contactless card (subject to status)
Easy access - withdraw up to £300 daily without charge
Terms and conditions apply. Please visit www.santander.co.uk/student
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 December 2019, the bank had around 23,500 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 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 one of the largest banks in the world by market capitalization. Its 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 quarter of 2020, Banco Santander had a trillion euros in total funds, 146 million customers, of which 21.3 million are loyal and 38.3 million are digital, 11,900 branches and 195,000 employees. Banco Santander made underlying profit of €1,977 million in the first quarter of 2020, an increase of 1% compared to the same period of last year.
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