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Refreshing fee-free account from Santander

Refreshing fee-free account from Santander

Category: Banking

Updated: 11/01/2010
First Published: 11/01/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Santander is celebrating its new presence on the UK high street with the introduction of its Zero Current Account.

Following the recent controversy concerning overdraft fees, a current account that does not charge customers for exceeding their overdraft is a refreshing change.

The authorised and unauthorised overdraft rates are relatively low too, with both at 1.02% per month, 12.9% EAR.

The account also offers a highly competitive credit interest rate of 5.84% up to £2.5K, 0.1% thereafter, although this includes a 4.84% bonus for 12 months.

It is an account that might also suit those who travel widely due to the lack of foreign usage fees.

Restricting its appeal are the requirements that applicants must hold a Santander mortgage and fund the account with at least £1K per month.

For daring to be different, this account earns four out of five Moneyfacts stars.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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