Santander offers fee discount on Reward Bank Account
Santander has announced a discount on the Reward Bank Account, a packaged current account giving new and existing Santander bank account customers a market-leading credit interest rate of 5% AER (fixed for a year), and a package of benefits worth a total of over £460 a year, including exclusive travel insurance worth £150. The account will cost customers just £5 a month for the first three months.
Santander's Reward packaged account doesn't scrimp on value. It gives customers the best of all worlds - market-leading credit interest on balances, an overdraft which is interest free for the first £100, and a range of exclusive benefits.
The range of benefits includes specialist worldwide travel insurance, with winter sports cover, for all the whole family; Green Flag motoring assistance; and assistance in the event of identity theft or the loss of any debit or credit card. With the benefits attached to this account, a customer could save up to £355 per year.
Helen Bierton, Santander Current Account Manager said: "The Santander Reward Account already offers great value-for-money with over £460 in benefits and a great in-credit rate for a very competitive monthly fee. The discounted fee of £5 a month means it offers even greater value."
Helen Bierton, continued: "We designed the Reward Bank Account around what customers told us they would want from a packaged account. The research we carried out showed that people wanted quality travel insurance for all the family, car breakdown assistance, an impressive credit interest rate, and the account to be keenly priced. We have been able to tick all of those boxes by giving new and existing customers real benefits that they will use, and value for money."
Michelle Slade, personal finance expert from MoneyFacts said: "At this time, it is hugely important that people make sure they are getting good value for money from their packaged account. Santander's Reward account offers good value, anyway, but now you can get three months use at half price, with no long-term tie-in clause to boot, and a great rate of credit interest, people should start looking seriously at reviewing their current account."
The Santander Reward Bank Account provides over £460 pounds worth of benefits, including annual worldwide travel insurance, national car breakdown cover, ID protection and much more, as well as a market-leading interest rate of 5% on the credit balance, and an interest-free overdraft if you go overdrawn.
The Santander Reward Bank Account offers:
Credit interest rate of 5% AER (fixed) for 12 months on balances up to £2,500 for new and existing bank account customers who credit at least £1,000 each month.
£100 interest free overdraft (subject to status), thereafter an overdraft rate of 12.9% EAR for new and existing bank account customers who credit at least £1,000 each month.
Annual Worldwide family travel insurance for two adults and up to four children, including winter sports cover
Green Flag motoring assistance with both UK roadside assistance and home call included
Identity protection providing up to £50,000 of legal cover
Card Loss Assistance, will arrange for all your card to be cancelled if they are lost of stolen anywhere in the world.
Key protection and replacement cover
Leisure benefits with great savings on days out, dining experiences and hotel accommodation
Commission free travel money