One financial services institution in the UK has recently announced it will be extending a deal on a current account offering.
Spain based personal and business bank account provider Santander will be extending the availability on its Zero current account. Many UK banking customers will be gratified to hear the news regarding the Spanish banking giant’s new offer extension.
The Zero current account from Santander has recently been made available to any customer with a Santander savings account. The only catch is that the savings account in question requires customers to meet and maintain a minimum balance of £10,000 in order to remain eligible for the Zero current account.
The Zero current account from Santander has been made available previously to Santander customers, though this is the first time that savings account holders have been eligible for the financial product. The current account was previously only been available to those customers who had either an investment package or a mortgage through the financial services provider.
The Zero current account boasts several attractive benefits. Among these are fee-free overdraft facilities on both unarranged or arranged overdrafts. An additional bonus is a credit rate of interest of five per cent in balances of £2,500 or less.
Director of banking for Santander Nici Audhlam-Gardiner commented on the unique nature of the new current account. The Santander representative stated that the Zero current account stands out from its competitors due to the fact that there are no overdraft fees associated with the account. Additionally there are no fees for withdrawing money from ATMs outside of the UK.
In related news the Building Societies Association’s director general Adrian Coles recently commented that consumers are relying less and less on savings products in today’s uncertain economic climate.