Santander Student Bank Accounts

Santander is the large Spanish bank that now owns the Abbey, Alliance and Leicester and part of the Bradford and Bingley and has merged all their operations into one bank.

The Santander 1|2|3 Student Account

The 1|2|3 account for students works in a similar manner to all other Santander current accounts. That means you receive a range of incentives and credit interest on any savings you have.

To operate this account, you simply need to deposit £500 into it each academic term. Here's what you get:

• Benefit from an interest-free overdraft of up to £1,500.
• A free four-year 16-25 Railcard with savings of up to 1/3rd off UK rail travel.
• Get a Visa contactless debit card.
• 15% discount at certain retailers tailored to you.
• 3% AER credit interest on money in your account on balances between £300 and £2,000.
• Easy access through Santander's 700+ branches and cash machine network.
• Receive preferential rates on other products like loans, savings, and insurance.

The Santander 1|2|3 Postgraduate Current Account

If you're continuing in education after an undergraduate degree, you can use the Postgraduate Current Account. The full details are as follows:

• Get an interest-free overdraft of up to £2,000.
• Receive a Visa contactless debit card.
• 15% discount at certain retailers tailored to you.
• 3% AER credit interest on money in your account on balances between £300 and £2,000.
• Easy access through Santander's 700+ branches and cash machine network.
• Receive preferential rates on other products like loans, savings, and insurance.

The main differences between the first two accounts is an increase in the overdraft limit from £1,500 to £2,000 and the withdrawal of the Railcard.

The Santander Graduate Account

The Santander graduate account is for people who have just left university and to help them on their way with a few special offers including an interest-free overdraft up to £2,000. The full details are as follows:

• Get an interest-free overdraft of up to £2,000.
• Use a Visa contactless debit card.
• 3% AER credit interest on money in your account.
• Easy access through Santander's 700+ branches and cash machine network.
• Unlimited online banking - for 24-hour access to your bank account.

The Santander International Student Current Account

For those overseas students studying in the UK, there's an account just for you. It's quite basic without any overdraft options, but it lets you manage your money with a bank account.

• No overdraft facilities.
• 3% AER interest on credit balances up to £500.
• Interest is paid gross without tax deducted.
• Deposit a foreign cheque into your account for free each month.
• Access to a Visa debit card.
• £5 per month account fee.

These are reasonable accounts and the one big bonus is the fee free overdraft and the high rate of interest on credit balances.

You can open any Santander bank account online, in a branch, or over the telephone.