My Banco Santander UK Online Banking Review 2011

Santander Logo
Santander Logo

Intro

Banco Santander SA is the biggest public listed financial group or bank in Spain and the biggest international bank in Latin America. The Banco Santander operates mainly in Spain, the United Kingdom, Portugal, other European countries, the United States and Latin America. Banco Santander was founded on 1857. The current headquarters is located at Santander, Spain. The current Groupo Santander’s CEO is Alfredo Sáenz Abad and the chairman is Emilio Botín.

The Banco Santander’s customers includes individual or personal consumers, public and private institutions, as well as small and medium enterprises. The bank’s retail banking business offers a range of deposit products, credit cards, loan products such as auto financing, personal loans, stock brokerage, and mortgages. The global wholesale banking business provides corporate banking, treasury, and investment banking services. The bank group’s asset management and insurance business designs and manages mutual funds and pension funds, as well as insurance products.


Santander in UK

Santander, previously known as Abbey, is a UK subsidiary of Banco Santander. Santander is formed from the merger of Abbey National plc in 2004, Alliance & Leicester in 2008, and Bradford & Bingley in 2008. SantanderUK has 1,300 local branches throughout the United Kingdom. The Santander’s CEO is Ana Botín.

Santander Products & Services

Santander offers variety of financial products and services to its personal banking customer

  • Current Accounts – Santander current accounts provide flexibility for customer money whether he/she wants to earn high interest as well as have overdraft protection. It also offers Student and youth current accounts
  • Credit Cards – Santander Credit cards are mainly MasterCard branded cards
  • Insurance – it has a wide range of insurance products such as Santander Car Insurance, Home insurance, travel insurance, and life insurance
  • Loans – mainly personal loans for loan consolidation and pay off existing loans
  • Mortgages – winner of best direct lender award 2010, for remortgaging, new home buyer mortgage, and Flexible Offset Mortgage
  • Savings & Investments – include ISAs savings, Instant Access Savings, and investment


Inside Santander Online Banking

Click thumbnail to view full-size
Santander Online Main PageAccount Balance OverviewAccount StatementOnline Payment
Santander Online Main Page
Santander Online Main Page | Source
Account Balance Overview
Account Balance Overview
Account Statement
Account Statement
Online Payment
Online Payment

Santander Online Banking

To access your Santander Online Banking, you will need to register your information by filling the online form with your personal details, permanent address in UK residence, and card details. You will need to wait for 10 working days for your Santander log on details along with your registration number and passcode. You can do the registration online on Santander website, www.santander.co.uk. You can also do the registration by telephone or in Santander’s branch. You will need your identification such as your Visa Debit Card or account passbook

  • You can do the following financial transaction with Santander Online Banking:
  • Check your deposit account balance, view your financial transactions or order a copy of your bank statement
  • Transfer money between your current account and card-based savings accounts
  • Set up, change or cancel regular transfers from current account to savings
  • Pay a bill online to vendors
  • View, set up, change or cancel bill payments online
  • Set up, view, change or cancel standing orders
  • Setup, change or cancel direct debits
  • Apply and change for an Arranged Overdraft for certain current account
  • Order a replacement for a damaged debit card or credit card
  • Sign up for telephone banking feature
  • Report any unauthorized account activity to customer support
  • Contact customer service for any account support
  • Order Santander Travel money for vacation around the world
  • Order new Cheque books


Santander Online Current Accounts

Santander also offers variety of Current Accounts (Checking Accounts):

  • Santander Preferred In Credit Rate – no monthly fee, include Visa debit card
  • Santander Preferred Overdraft Rate – no monthly fee, online banking
  • Reward Current Account – sign up bonus, £10 monthly fee
  • Premium Current Account – £20 monthly fee, Visa Debit Cards
  • Zero Current Account – visa debit, sign up bonus


Santander Current Accounts Comparison

(click column header to sort results)
Product name  
Account type  
Switching incentive  
Overdraft Protection  
Monthly fee for account  
Online Banking  
Telephone Banking  
Card type  
Chequebook  
Extra Benefits  
Preferred In-Credit Rate
High Interest Account
£100
Yes
£0
Yes
Yes
Visa debit
Yes
No
Preferred Overdraft Rate
Overdraft Account
£0
Yes
£0
Yes
Yes
Visa debit
Yes
No
Reward Current Account
Package Account
£100
Yes
£10
Yes
Yes
Visa debit
Yes
Yes
Premium Current Account
Premium Package Account
£100
Yes
£20
Yes
Yes
Visa debit
Yes
Yes
Zero Current Account
No fees Account
£100
Yes
£0
Yes
Yes
Visa debit
Yes
No
Updated 2/14/2011

Santander Credit Cards

There are two main Santander credit cards:

  • The Santander Zero Credit Card by MasterCard – No annual fee, 0% foreign exchange fee, 0% cash advance fee
  • The Santander Credit Card by MasterCard – No Annual fee, 0% for 13 months on balance transfer from account opening (3% fee may apply)

Santander Savings Account Comparison

(click column header to sort results)
Account Name  
Type of Account  
Interest Rate  
Save from  
Statement  
Interest paid  
Managing  
Instant Access Saver
Instant Access
Variable
£1
Quarterly
Annually
Branch, phone
Fixed Rate Bonds
Bond
Fixed rate
£1-£2m
Bond certificate
Annually
Branch
eSaver
Instant Access
Variable
£1
Regular Statement
Monthly/Annually
Online, ATM
Easy ISA
Tax-free
Variable
£1
Regular Statement
Annually
Branch, Phone, online, ATM
Flexible ISA
Tax-free
Variable
£1
Regular Statement
Annually
Post, phone, online, ATM
Direct ISA
Tax-free
Variable
£1
Regular Statement
Annually
Post, phone, online, ATM
Updated 2/15/2011

Advantages and Disadvantages

Pros of Santander

  • Free Santander current account with sign up bonus
  • Big financial institution with more than 1,300 branches
  • Offer online banking
  • Wide selection of banking products
  • No extra fees using foreign ATM
  • Offer 0% foreign exchange fee The Santander Zero Credit Card

Cons of Santander

  • No direct stock dealer, only advisor based investment
  • Extra fee for services
  • Limited credit cards products
  • Some products are limited to UK resident only

More Santander Online Banking

Click thumbnail to view full-size
Account OverdraftMove Money
Account Overdraft
Account Overdraft
Move Money
Move Money

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