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Santander Preferred Current Account

Published on 5 August 2017 in Multi - News by Raffick Marday

Santander debit card

Santander Preferred Current Account debit card with price protection service. With ₤100 is guaranteed for you if you switch your account to Santander Preferred Current Account –the tagline which in itself is a revolutionary measure in the account holding market in UK. This account is designed preferentially for customers who are in-credit rate account and wishes to avail the introductory offers and interest rate for 12 months after which interest rate will be according to Santander preferential rates.

How to qualify for the Santander Preferred Current Account?

You can switch the account using the Account Transfer service and simultaneously be ready to pay ₤1000 in your account every month. You must be aged 18 years and a permanent resident of UK. No interest is paid on balances over ₤2,500 or if you are unable to pay ₤1000 every month. If you don’t switch your overdraft rate will be fixed at 19.9% EAR.

How to switch your account?

Santander will transfer all your payments, bills, direct debits from your designated old account to your new account. An overdraft will be issued to you for the ease of your transfer. You are given the flexibility option of choosing the date to switchover. The institution will update you about regular processing of your account. Please be cautious about having balances in your old account so as to smoothen the process of transfer. This means your balances should be sufficient to ease the transfer. An instant service is provided through a call at 0845 609 0010 which is available from Monday to Friday from 8am to 6pm.

Why would you choose this account?

It really pays to switch your account where you not only benefit from earnings which are 50x times than other bank offerings but you also earn a modest 100 pounds. You can have direct access to your account 24 hrs a day with online and phone banking services. You can have access to 13,000 Santander branches to follow up your financial transactions. Once you have opened your new account your child aged between 11 and 18 will be a preferential account holder under the banner Youth Plus Account with 5.00% AER on balances up to 500 pounds.

Financial Thresholds:

There is a 5.00% AER /4.89 % gross on first 12 months on balance up to 2,500 pounds. After 12 months the rate changes to 1% up to a balance amount of 2,500 pounds. Zero percent EAR charged for overdrafts for the first 4 months, which then changes to 19.9 per cent EAR which is typically variable.

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