Santander launches no balance transfer fee offer

Santander has announced the latest initiative to reward existing customers, following the launch of the Zero Current Account and the announcement that adult bank account customers will now benefit from fee free cash withdrawals from all of Santander's 4,300 ATMs in Spain.

With immediate effect, customers who have either a current account or mortgage with either Santander UK or Alliance and Leicester will be able to apply for the award winning Santander Zero Credit Card offer with a zero per cent balance transfer fee in addition to the existing Zero benefits.

This new and unique offer will enable eligible customers to transfer balances from an existing credit card without incurring a fee, while also being able to take advantage of all of the Zero Credit Card's fantastic current features.

The new Zero Credit Card package for all existing mortgage and current account customers includes:

Zero per cent interest on balance transfers for 12 months
Zero fee for balance transfers
Zero per cent interest on purchases for three months
Zero per cent foreign exchange fee, anywhere in the world
Zero per cent cash withdrawal fee

The new offering will be available through Santander UK branches, over the telephone and online.

Customers who don't have a current account or mortgage with either Santander UK or Alliance and Leicester, can still apply for a Santander Zero Credit Card and benefit from all of the above but with a three per cent balance transfer fee.

Emma Roberts, Director of Santander Cards, commented:  "This is yet another great offer from Santander Cards. We are committed to rewarding our customers and this offer is the latest in a series of initiatives that will enable customers to benefit from being part of one of the world's most successful and efficient banks.

"By offering the Zero Credit Card with no balance transfer fee to our existing mortgage and current account customers we are providing customers with a completely unique proposition within the market."

Andrew Hagger of Moneynet.co.uk, commented: "Santander is rapidly building a reputation for rewarding loyalty by offering existing customers some very tempting and competitive new offers.

"The enhanced Zero card offer with fee free balance transfer should prove a big winner with the Santander customer base. The promotion is particularly timely with many people seeking a new home for expensive credit card debt as part of a New Year resolution to revamp their finances."

Michelle Slade of Moneyfacts, added: "At the start of a new year many consumers are looking to get their finances in order. The new Zero Card is a fantastic deal for Santander customers, as no other card on the market offers the opportunity to do an interest free balance transfer without a fee being payable. Also, with no fees on foreign usage, those looking for some winter sun will also benefit.

"Santander is really leading the way with innovative products and is laying down the challenge to other providers."