Breakdown of bank accounts Santander’s 123 Student Current Account, for example, offers a free 16-25 Railcard for new customers, which is valid for four years and saves students up to one third on most rail fares, making this account a great choice for students who regularly travel by train. If you’re about to begin your course, you must have an ‘unconditional’ or ‘confirmed conditional’ offer (i.e. The account also offers an interest-free and fee-free arranged overdraft up to a maximum of £1,500 in the first three years of study, £1,800 in year four and up to £2,000 in year five. There is a cost associated with using an overdraft. Classes you have to pay for, books you have to buy and, if possible, you want to enjoy student life as well. A lot of banks offer special bank accounts for students. Sign-In *Rates are displayed to two decimal places. Find out more at Santander.co.uk However, it’s not necessarily the best account for all your financial transactions. All of this can add up pretty quick. 4.https://www.santander.co.uk/assets/s3fs-public/documents/123-student-current-account-kfd_0.pdf Manage Your Account – Your Way Whether you bank on your phone, laptop, or tablet, digital banking allows you to manage your money where and when it works for you. You’ll get a debit card and overdraft facilities, which can increase over time, depending on how you manage your account¹. Find out more at Santander.co.uk. When you’re choosing the right student account for you, it pays to shop around a little. your account makes or may make  use of an unarranged overdraft, you have regular payments due on your account and you don’t have the funds to cover them. Santander 123 Student Current Account Santander’s student account comes with a free four-year 16-25 railcard, giving you a third off when you buy an off-peak rail ticket in the UK. £1.99) if you withdraw in pounds, 1.5% of the transaction value (min. You’ll get a free Santander 16-25 Railcard which could save you 1/3 on rail travel in Great Britain letting you travel all over England, Scotland and Wales for less. For more information on the Santander 16-25 Railcard please see the Frequently Asked Questions in our help and support section or visit the Rail Delivery Group FAQs page. There are, however, some fees you need to know about, especially when it comes to using your account to send and receive … £1.99) + 2.75% of the value if you withdraw in a foreign currency, Withdrawing from a Santander ATM in Spain is fee free, Allowing a payment despite lack of funds - £5, Refusing a payment due to lack of funds - £10. To be eligible for the Santander 1|2|3 Student Current Account, you’ll need to use it as your primary account, and pay into it every academic term¹. If you're about to begin your university studies, you must have a ‘confirmed conditional’ offer (this is given once you have received your results) or an ‘unconditional’ offer of a university place. Student accounts may … you have your exam results) before you apply, You pay in at least £500 per academic term. Student bank accounts paying high interest Santander also pays monthly interest on credit balances - at a rate of 1% AER on balances up to £2,000. More on that later. If you have a 1|2|3 Mini Current Account and are in, or going into your first year of study on an undergraduate course, you can change your account online. To accept cookies, just browse as usual. It offers an interest-free overdraft, discounts with retailers and interest on in-credit balances. In both cases, you'll also need to make a minimum deposit into your new checking account at the time you open it. An arranged overdraft is when we let you borrow up to a pre-agreed limit – you can ask for one when you open your account or at any other time. There are, however, some fees you need to know about, especially when it comes to using your account to send and receive international payments, or cover your costs while you travel. Banks and money transfer providers often give you a bad exchange rate to make extra profits, and most of them use intermediary banks to send your money across borders. To receive the overdraft you must deposit at least £500 per term into the account (ie. Here in the United States, we offer simple, personal and fair financial solutions to help our customers prosper. A borderless account can mean you save money on international bank fees - and have more to spend on yourself. Calls may be recorded or monitored. Interest is calculated daily and paid monthly based on the annual gross rate of 0.995%. First things first: what are the different accounts available? A Santander 123 Student Current Account is designed with students in mind, generally considered as one of the best student bank accounts in the UK. where a payment is refused as you don’t have enough funds. It is not intended to amount to advice on which you should rely. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. The Santander 16-25 Railcard also gives you access to exclusive deals on holidays, eating out, top attractions and more. The Santander 123 Student Account is a great all-round choice for students. Before you get started, a bit of information about international payments. You may need to book an appointment, Report a lost or stolen cardHelp with Online BankingHelp with Mobile BankingT&C and policy documentsRetailer Offers, How to update your contact detailsUsing your debit card outside the UKBereavement supportMoney worries, We offer a simple, reliable and stress-free way to switch your current account to a new or existing Santander account, Not sure which current account is right for you? Read this article to learn all you need to know about a student bank account with Halifax. To qualify for a 123 student current account, you must: Be aged 18 or over; Have a permanent UK address For more information visit Account alertsYou can manage your alerts settings at any time by using Online Banking, calling us on 0800 9 123 123 or visiting a branch. Santander and the flame logo are registered trademarks. If you exceed your arranged overdraft, you’ll also have to pay fees⁴. 3. If you're about to begin an apprenticeship, your place on the apprenticeship must have been confirmed. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Check our comprehensive guide on how to go about it. Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. Santander Student Current Account - Ask a question now. Here to help you prosper You can also get a linked debit card to make ATM withdrawals and pay for things anywhere you see the MasterCard logo. PLEASE NOTE: In order to support our colleagues and provide essential services to our customers during the evolving coronavirus situation, we will be splitting our network of branches into full service and limited service locations beginning March 23, 2020 until further notice. Read our full analysis in our guide to the best and worst student accounts. If you have a different current account, or don’t have a UCAS code because you’re doing a level 4-7 apprenticeship, or you’d like any more help, you can change your account in one of our branches. To open your Santander student account you’ll need to have the following³: Santander’s account for students is called the 1|2|3 Student Current Account. Read this article to learn all you need to know about a student bank account with Nationwide, A lot of banks offer special bank accounts for students. We may ask you to repay all or part of your overdraft at any time but we'll try to notify you of this in advance. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Student and Graduate Opportunities WHO WE ARE. *All sources checked on March 7, 2019. pay in £500 and continue to pay in at least £500 per academic term. You’ll be automatically set up to receive text alerts when: You’ll also be automatically set up to receive an alert when your account goes further into arranged overdraft which may cause the cost to increase. Use the tools below to refine your search by only displaying reviews with a certain number of star ratings or to only show reviews from a certain time period. For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. New applicants automatically receive a £250 fee-free overdraft when they open an account … Its smart new technology skips hefty international transfer fees by connecting local bank accounts all around the world. Once the account has been open for at least 24 hours, you can update your account settings at any time to start receiving statements and other correspondence by post. You’ll need to show that you have already started university, or have received an unconditional or confirmed conditional offer for a place on a recognised course of study. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. The Santander 123 Graduate Account is only available for students currently on the 123 Student Account, meaning you can’t switch after graduation. You also get a four-year 16-25 Railcard (worth £90ish) which gets you a third off rail travel, though you may not be travelling as much as normal with coronavirus travel restrictions and more online lectures. Our Financial Services Register number is 106054. TransferWise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money. Here’s all you need to know about the Santander student account. borderless multi-currency account from TransferWise, how to make your first transfer with TransferWise, How to open a bank account in the United Kingdom, Barclays Student Account: Everything You Need To Know, Nationwide student account: Everything you need to know, Halifax Student Account: Everything You Need to Know, Your address history for the previous 3 years - you may need a, Proof of your status as a student - this could be a student ID card or a letter from your university confirming you've been accepted, for example, Details of your incoming and outgoing payments, 1.5% of value (min. 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. You’re about to begin or have started an undergraduate course, or degree-level apprenticeship (level 4-7) that is at least 2 years in length. This should only take 10 minutes - although you also have the option of visiting a branch if you want some face to face help². You can also register for other account alerts to help you to stay on top of your finances. Set Up Alerts: Keep track of your account activity with alerts via text or email. 123 Student Current Account. Refine your search. To increase this to £1,500 you’ll need to: The table below shows you how you’ll be charged for using your overdraft. As long as you meet the eligibility requirements for the 1|2|3 Student Current Account, you’ll get an arranged overdraft facility. Register to receive mobile-to-mobile payments with, Contactless payments with your mobile by linking your Santander debit or credit card to your. Open a new Santander® Premier Plus checking account by 10/31/2020 using the unique promotion code shown on this page after you provide your name and email address. Some students may consider opening one of these, if they are working or want to save money for travel or emergencies. However, there’s an alternative. We don’t charge fees for allowing or refusing a payment due to lack of funds. 1 No Monthly Fee for Santander ® Savings with any personal Santander checking account or with $100 average daily balance in the Santander ® Savings account (otherwise, $1.00). Check out this new Santander Student Checking Deal (must use this link) to get a $25 cash bonus when you open a new Student Value Checking Account by March 31, 2019, and make 10 debit card purchases with your Santander Debit Card within 60 days of account opening. All other fees apply. Telephone 0800 389 7000. You can access the 1|2|3 Student Current Account anytime, anywhere. Opening a bank account in the UK is no longer difficult as it was before. The Santander student current account offers some attractive features for students, including discounts on rail fares and an overdraft facility¹. Makes student life a little easier with our Student Current Account, you’ll get a free Santander 16-25 Railcard, interest on your balance and fee-free Arranged Overdraft. Opening a bank account in the USA can be difficult but with little patience you can make it happen. However, the account does come with a little bonus that no other graduate account does: in-credit interest. 2.https://www.santander.co.uk/personal/current-accounts/123-student-current-account/apply-for-a-123-student-current-account An overdraft lets you borrow through your current account. That means you can receive money via local payment methods in these major world currencies, just like a local. If you already bank with Santander, you'll need to close or transfer your existing account, so that your student current account is your main bank account. A good alternative to look at - especially if you send and receive international payments frequently, or love to travel - is the TransferWise borderless account. If we don’t have a valid mobile number for you, we might not be able to reach you. Retailer Offers makes it easier to earn a little extra from a variety of Retailers. They offer 1% AER interest on balances up to £2,000. The Fee Information Document (116 KB) details the main fees and charges on this account. Pay in at least £5,000 per month into the Select Current Account OR keep £75,000 in any Santander investment(s), savings or current accounts; £5 monthly fee to maintain the account Try the TransferWise borderless account, for a flexible way to manage your money across over 40 different currencies, and see if you can save. Santander UK plc. Welcome to Santander. Do you want to leave the page? Most banks have specific checking accounts for students, such as the Chase College Checking Account and the Santander Student Value Checking Account. Keep in mind that only certain … An unarranged overdraft occurs when your account goes overdrawn without an arranged overdraft in place or if your account goes over your arranged overdraft limit. You’ll also have to pay in at least £500 per academic term to retain the benefits the account offers. we’ll automatically increase your overdraft limit as shown below at the start of each year of study. If you’re the parent of a student, or if you’re a graduate student and have built up some collateral, there are supplemental funding options available through your bank. Your account will automatically transfer to our 1|2|3 Graduate Current Account (2.45 MB) which comes with a £2,000 fee-free Arranged Overdraft. student loan). Student bank freebies. One of the key features of the borderless account is that you can hold multiple currencies, and switch between them using the mid-market rate, whenever you need to. Santander is making its Railcard available to all new Student Account customers, all customers switching to the Santander Student Account from other banks and customers who are upgrading to Student Accounts from non-Student accounts (such as Santander’s Youth Account). Santander's 1|2|3 Student Current Account offers interest of up to 3%, a free 4-year 16-25 Railcard and is once again set be the most popular UK student account 2.. Learn more and see your settings in our cookie policy. This smart new account lets you hold more than 40 currencies, and get local, virtual account details for the UK, US, euro area, Australia and New Zealand. Home Equity Line of Credit All the features of the 1|2|3 Current Account and receive a more personal banking service. You'll receive your 16-25 Railcard within 5 working days of completing your order. To open a Santander 1|2|3 Student Current Account you must be aged 18 or over, and a UK resident¹. The Santander 1|2|3 Student Current Account has many great features for students, but there are also fees and charges to be aware of. There’s no monthly fee to maintain the account. How does our overdraft compare? Several student bank accounts come with freebies and other incentives. This could make it harder or more expensive to get credit with us or other providers in the future. The only other provider paying credit interest to students is TSB, which pays 5% interest on balances up to £500. 5.https://www.santander.co.uk/assets/s3fs-public/documents/fid-student-current-account.pdf You can ask to reduce the limit at any time. Doing a bit of research, and thinking carefully about the way you’ll use your account is the best way to get the right solution for your needs. Santander International is the trading name of Santander Financial Services plc, Jersey Branch and Santander Financial Services plc, Isle of Man Branch. The Santander 123* student account gives accepted full-time students and apprentices a guaranteed £1,500 overdraft in years one to three. Several student bank accounts access your account activity with alerts via text or email in cookie. Paper free, with online banking facilities¹ Conduct Authority and regulated by the Financial Conduct Authority and regulated by Financial. 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