1 No Monthly Fee for Santander ® Savings with any personal Santander checking account or with $100 average daily balance in the Santander ® Savings account (otherwise, $1.00). If you’re a serious traveller and sick of being charged fees on your spending abroad, it also offers fee-free cash withdrawals and currency conversion anywhere in the world. for the Zero current account is £50. Again, there are no fees for cash withdrawals or currency conversions and the exchange rate is set by MasterCard. The accounts are available in currency specific versions (most commonly Euros and US Dollars, although Travelex offers a wider range) or global multi-currency versions. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. Please refer to the Personal Deposit Product Guide and Fee Schedule for more details. On the global multi-currency front, FairFX and Travelex offer the cheapest rates with conversion fees of 1.4% and 1.49% respectively. Inactivity, dormancy and cancellation/redemption fees apply. 2.75% transaction fee, no international ATM fees. £3 monthly account fee. 18.9% p.a. Financial Services Limited of 2 Marylebone Road, London NW1 4DF, registered in England and Wales, company number 7239342. FairFX has the best price for US Dollars – although getting hold of $500 on the Caxton card will only cost you 41p more. It has a monthly account fee of £3. 6 November 2020 at 9:35AM in Budgeting & Bank Accounts. Interest free period ¡ Maximum of 56 days for purchases if you pay your balance in full and on time. A current account with everything you would expect including overdraft (subject to status) and contactless Santander debit card; No interest is paid on your balance; No monthly fee to maintain the account Get the speed you need with a Santander Personal Loan. Annual rate: 18.9% p.a. Earlier this month Santander unveiled a brand new current account offering cashback on the money you spend on your council tax, utility bills and even your mobile phone. Now Santander has withdrawn its Zero current account, Norwich and Peterborough Building Society boasts two decent options. 6 posts. free monthly fee, 0% AER, Representative Example*: 0% EAR (variable) Arranged Overdraft. The global currency cards on the other hand do charge conversion fees when transactions go through. To get hold of the Classic account you need to pay at least £500 in each month or foot a £5 charge. 0% for 12 months from account opening N/A 0% for one month from account opening Monthly rate: 1.457% p.m. 1.457% p.m. 1.457% p.m. No conversion, purchase or ATM fees. The Gold Classic and Gold light accounts both come with zero currency conversion fees and no ATM charges. All well and good. For the latest information, read The best debit cards to use abroad and The best credit cards to use abroad. From January 2010, the Santander ZERO Current Account will be available to customers who hold £10,000 or more in a Santander savings account, in addition to the current eligibility of mortgage customers and those with a Santander investment product. Of course, you’ll still need to watch out for local ATM fees, and interest will still be charged on any cash advances. The Gold Classic and Gold light accounts both come with zero currency conversion fees and no ATM charges. Arranged Overdraft Usage Fee of £1 per day. Santander is extending the eligibility on the UK's first fee-free current account. Finally, there's the Metro Bank current account, with which there are no charges on foreign transactions. These are: All in One: A reward credit card which offers 0.5% cashback on purchases, 0% interest and no fee on balance transfers and purchases for 26 months, and no foreign transaction fees on purchases made abroad. This means that you can keep track of your spending money after you’ve paid for the essentials. 6 November 2020 at 9:35AM in Budgeting & Bank Accounts. This account is designed to help you manage your money and build up your credit history. Access your account information online with internet banking from Santander; manage your money, cards and view other services. The new Zero Current Account has no overdraft penalty fees, no fees for bounced payments, no charges for taking out cash overseas and no foreign exchange fees. More: Big budget month day 15: how to have a holiday for less | How to beat sneaky budget airline charges | How British banks rip us off abroad, Do you want to comment on this article? No conversion, purchase or ATM fees. All of the cards are free to purchase (FairFX’s card is free to lovemoney.com readers who load on £50). The account comes with two bank cards to help you do this. Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News, Rental evictions to restart in England next month, Pension need-to-knows, including the different types, Blue Peter badge gets kids free entry to 200+ attractions. Caxton FX offers the best conversion rate for spending in Euros. Martin: 'Santander 123 is deader than a dead duck – if that's even possible! In fact, My Travel Cash will even give you 1% cashback on all of your spending – although the interest rates on the cards are not as competitive as the Caxton FX and FairFX accounts. Santander Extends Eligibility on UK's First Fee-Free Current Account - From 8 March 2010, the Santander ZERO Current Account will be available to customers with a Santander investment product Big budget month day 15: how to have a holiday for less, How to beat sneaky budget airline charges. The card also offers 14 months at 0% on balance transfers and three months at 0% on purchases. Let's settle this like gentlemen: armed with heavy sticks On a rotating plate, with spikes like Flash Gordon And you're Peter … … When Santander cut rates in 2020 Martin Lewis, founder of MoneySavingExpert.com, gave the following statement, which still stands today: "When Santander announced it would cut its 123 account's interest rate to 1%, I said it was a dead duck current account as there was little reason for anyone to stick to it. 1.4% overseas transaction fee, £1 international ATM withdrawal fee. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Another selling point is the ability to earn cashback through Santander’s Retailer Offers initiative. It’s also worth noting that the FairFX cards all charge for overseas ATM withdrawals. 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