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Santander launches new mobile banking app for students

15th September 2014 Print

Santander UK has launched an innovative new mobile banking service which is set to transform the way its customers can keep track of their everyday finances and spending. 

Aimed primarily at students, but available to all Santander’s customers, SmartBank is a free mobile banking app which provides a comprehensive, clear and easy to understand summary of their current financial situation. Designed to complement Santander’s existing mobile banking app, it is perfect for students about to start university and manage their money for the first time.

Some of SmartBank’s key features include:

‘At a glance’ spending graphics, together with a summary of recent outgoings and upcoming payments;

Itemisation by type and location of expenditure ( eg ‘£50 spent on travel this month’), as well as method of spend ( ATM withdrawals vs card payments);

Weekly and monthly spending patterns, as well as how much is left in their account, so students can keep a tight rein on their finances;

Log in via existing Santander mobile banking credentials, so no need to remember additional security information.

Alongside their financial status, the app will also provide students with general information about Santander Universities, including the financial support that the bank provides for scholarships, work internships and awards, among other opportunities.                                                                          

The app, which has been developed in partnership with Monitise, can be downloaded free from today by iPhone users on the App Store (just search for ‘SmartBank’), and it will also be available to Android users in the coming weeks. 

Ben Green, Head of Innovation, Santander UK said: “We know our customers are increasingly looking to bank and pay on the move, so it is important for us to think creatively about how we can develop an insightful, useful and personalised service for them. SmartBank acts as a true financial companion, providing our customers with an engaging and tailored experience at a time and place that’s right for them.”

SmartBank adds further functionality to Santander’s market leading 1l2l3 Student Current Account. This allows students to earn up to 3% interest as well as receiving a free 4-year 16-25 Railcard which can save them over £700 in train fares. It also offers an interest-free, 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. As a result of all these benefits, more students opened their accounts with Santander than any other bank in 2013.