Daily fee structure to be introduced for new Santander current account

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Daily fee structure to be introduced for new Santander current account

Wed 30th Jun 2010

A new Santander current account will feature a daily charging structure for customers who utilise overdrafts.

According to the firm, this move fits in with its intention to reward loyalty, since it is responding to its clients' wishes.

Research by the financial services provider suggested that customers see a daily charging structure as being more transparent.

The new Santander current account will be launched before the end of the year and will be available to customers who use the company as their main bank.

This daily fee structure is designed to complement the Santander Zero Current Account, which was unveiled at the beginning of the year and offers fee-free overseas ATM use and no overdraft charges.

Santander estimates the product is available to more than 22 million people in the UK.

This week, the firm launched a new issue fixed rate bond paying up to 3.75 per cent interest, with terms of between one and two years available.

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