Santander offers a student bank account tailored for international students in the UK. Designed with student needs in mind, it provides a range of benefits for easy money management. You can enjoy your account without worrying about recurring charges and make payments effortlessly with a contactless debit card.
This account provides features such as no monthly fee, a contactless debit card, and access to Santander branches and ATMs nationwide. Students can also benefit from online and mobile banking services. Santander International student bank account includes special offers and discounts and a separate category for student accounts. Let’s check and understand all the major features of the Santander international student account.
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Overview of Santander International Student Account
The Santander Bank account is very convenient for students and provides elevated banking experience and privileges suiting student requirements. It is also called the 1/2/3 Student current account. The Santander Edge Student Current Account comes with several features as discussed below:
- The Santander bank provides the privilege to open a current bank account. A student who is 18 years or above can open a bank account. It is for 4 years. A student desiring to open an account should have the confirmation letter of his/her admission to the course. The student Identity card is one such proof required to open the account.
- There is no monthly fee charged to maintain the account.
- The account comes with an overdraft facility where the student can borrow money for a short duration from his current account. This is required at times when an urgent need for money props up.
- You can avail of an arranged overdraft limit of GBP 250 on the Santander bank account for international students.
- It comes with a free 4-year Santander 16-25 Railcard and helps to save one-third of the rail fares in Great Britain.
| Card Name | 123 Student Current Account |
| Card Type | Cash/Debit |
| Debit Network | Mastercard |
| Minimum opening balance | £0.01INR 1.00 |
| Account fees | £0 |
| Daily cash machine limit | £300INR 30066 |
| At end of the term | Automatic account transfer to a graduate account |
| Maximum overdraft in years 1,2 and 3 | £1,500(INR 1.50 Lakh) |
| Maximum overdraft in year 4 | £1,800(INR 1.80 Lakh) |
| Maximum overdraft in year 5 | £2000(INR 2 Lakh) |
| International card transactions | 2.95% |
| International card | 2.95% |
International students who are currently enrolled in an undergraduate study or a level 4–7 apprenticeship may qualify for a student account from Santander. However, there are some fees you should be aware of, particularly if you plan to use your account to make and receive money internationally or to pay for your expenses while travelling.
Benefits to Open Santander International Student Account
- For the first three years of your education, you will be granted a GBP 1,500 (INR 1.50 Lakh) interest-free overdraft through this account. If your education lasts that long, you can raise this to GBP 1,800 (INR 1.80 Lakh) in year 4 and GBP 2,000 (INR 2 Lakh) in year 5.
- A four-year free 16–25 railcard. Worth GBP 100 (INR 10,000) and a total average rail price savings of GBP 636 (INR 63,781). This means a savings of GBP 159 (INR 15,945) annually on your international student account by Santander Bank.
- Santander Accelerates Receive offers that are tailored to you, such as cashback, coupons, prize drawings, and more.
The 123 Student Current Account is specially designed for students. The account is paperless and has internet banking capabilities. Interest is paid on balances between GBP 300 and GBP 2,000.
Depending on how you handle your account, you’ll receive an overdraft facility and a debit card1. You can use your debit card abroad and send and receive payments from other countries.
Also Read: Planning to pursue overseas education? Check here for some of the best banks offering education loan to study abroad.
Ways to Bank with Santander Bank
Santander Bank is an easily accessible bank that comes with several user-friendly features. These features help the students access their accounts easily and meet their day-to-day requirements with ease, including easy Santander international transfers. There are several ways to bank with Santander Bank and a foreign student can access the Santander Student Edge Account by international students anytime and anywhere with the following provisions:
- Online Banking at santander.co.uk/personal account
- Mobile Banking
- My Money Manager for personalized spending insights
- Linking the Santander credit or debit card with your Apple, Android or Samsung account
- Face-to-face support in the branch
- Telephone Banking
- Post Office to make withdrawals, balance enquiries, cash and cheque deposits.
Santander Mobile Banking
The mobile app is an essential feature while dealing with any financial institution and the same applies to the Santander Account. The value of the mobile application lies in its smooth operations while transferring money between accounts, making payments, freezing your debit card when lost or missing and many other useful facilities.
- Santander mobile banking is highly rated by students and other customers on both iOS and Android app stores.
- The students must know that they receive 5 stars and have 2k reviews in Apple iOS app store rating and 3.8 stars and 138k reviews in Google Play and Android app store rating.
- These are considerably good satisfaction shown by the customers to the mobile apps of the student Santander Bank mobile application use.
Eligibility for Santander International Student Account
To be eligible to open a Santander bank account a student should be 18 years of age. A student must also be a permanent resident in the UK and should pay at least £500 into your account every 4 months. You should also have begun or started an undergraduate course or a level 4-7 apprenticeship, that is at least 2 years in length.
- Students must be enrolled in an undergraduate programme for at least two years or an apprenticeship to qualify for a Santander 123 Student Current Account (levels 4 to 7).
- For students who are about to begin your course, you must have an ‘unconditional’ or ‘confirmed conditional’ offer (i.e. you have your exam results) before you apply.
Additionally, to be eligible for a Santander Bank student account for international students, you must fulfil the following conditions-
- Students are at least 18 years old,
- Have a permanent address in the UK
- Close or change from any current Santander bank account.
- Also, students must contribute at least £500 (INR 50111) each academic term to keep the account’s benefits. Santander will terminate your account or move you to a 123 Graduate Account once you graduate.
Documents Required
To open a Santander Bank account, a student must have two of the following documents: These documents are the forms that must be filled out for identity verification. Besides, you require ID cards and SSN (Social Security Number). Check them below in detail-
- Two forms of identification are primary and secondary forms. The primary form is a government-issued identity like a passport or driver’s license or even a state or military identity.
- A secondary ID is a bank-issued ATM card/ debit card/ utility bill and birth certificate.
Other documents required are a social security number, valid address and phone number.
Also Read: Check here all the details and important factors about Vidya Lakshmi Portal Education Loan.
How to Open a Santander International Student Account
Once students have accepted an unconditional or “confirmed conditional” offer, they are eligible to open the Satander international student account. Students have both options: online and branch accounts available to them.
Students are required to enter their UCAS number along with certain personal information, financial information, and evidence of enrollment in the course when creating an account.
Additional Features of Santander Student Bank Account
The Santander Bank student’s account comes with a few additional features as follows:
A free four-year Santander 16/25 Railcard that saves 1/3rd of Rail Ticket in the UK.
- Travel benefits that come with the account are no fee is charged for using Santander cash machines during travelling.
- An interest-free arranged overdraft.
- Santander Boosts are free cash backs, vouchers and other personalized rewards.
Detail of Overdraft Facility
The overdraft facility by Santander account for students is the best cherished and must be understood properly. Sometimes students do not read the details of a facility and are thus misled by other folks. When you open a 123 student current account you will automatically be the beneficiary of the overdraft facility. The overdraft allowance of a student depends on his year of study. The following is the breakdown of the overdraft facility:
| Years 1-3 | £1,500 |
| Year 4 | £1,800 |
| Year 5 | £ 2,000 |
It must be noted here that regardless of the year the interest will remain zero percent. It should be remembered that the money deposited in your current account is the source of repaying the overdrawn money.
This is a primary learning also for the students to handle their finances and one must realize its importance. A student will receive the alert anytime you receive an overdraft from your account through your mobile app.
The bank has under the terms and conditions mentioned the conditions when they are not satisfied with the overdraft drawn by a student and can reduce the limit accordingly. These terms and conditions should be read properly while going on the bank documents.
Paper Free Features
- The Santander Bank account gives you provisions for submitting your documents online provides you with your bank statements, and sends information through e-document mode. However, there is a provision for obtaining paper documents and the same is applicable for Braille also.
- An email address is to be submitted at the time of opening the account.
- When the account is opened then the student can change his settings after 24 hours.
Security Features
Foreign students should well understand that finances are very important while living in any country and so is the knowledge of the security features. Young students should not disclose their passwords and other details to anyone. They must keep their account private and secure.
Account on Course Completion
The foreign student account on completion of the course or after 4 years is automatically converted to the Santander Edge Grad current account. When this happens then the interest-free overdraft facility will reduce each year. It is advised to students to check if their bank starts charging interest and get geared to budget themselves to pay the overdraft before the due date.
Other Features
The Santander Account for students helps to give a financial boost to their lives with many other features. It provides cash back, discounts and special offers. A student needs to sign up for Boosts through his mobile banking app and then one can choose the offers you like and earn rewards. The rewards are added while spending at a retailer.
Also Read: Automated Clearing House or ACH offers a convenient and cost-effective way to move funds between bank accounts. Read this blog What is ACH Transfer? Know Complete Process and Benefits for better understanding.
FAQs
Students must be enrolled in an undergraduate programme for at least two years or an apprenticeship to qualify for a Santander 123 Student Current Account (level 4 to 7) and must be aged over 18 years.
For international students, the Santander 123 Student Account is a fantastic all-around option. In exchange for signing up, it offers a free 16–25 railcard and an interest-free overdraft.
Santander Basic Current Account, Natwest International Student Account, TSB Cash Account and Barclays Student Additions Account (International) are some of the popular choices among students.
To open a Santander Bank account a student must have two of the following documents. The primary form is a government-issued identity like a passport or driver’s license or even a state or military identity. A secondary ID is a bank-issued ATM card/ debit card/ utility bill and birth certificate. Other documents required are a social security number, valid address and phone number.
A foreign student’s bank account is an account that a student involved in studies abroad can open to meet his financial needs.
The Santander Edge Student Current Account is a provision given to foreign students to open an account when enrolled in undergraduate or higher degree courses in the UK.
A foreign student opens a Santander Bank Account with the help of a few documents like a valid student ID with a photo, college acceptance letter, government ID proof and social security number.
Yes, the Santander Student account comes with certain conditions to benefit you with an interest-free, free-fee arrangement overdraft facility and a Santander 16-25 years railcard.
The account is converted to a Santander Edge Grad Current Account. However, if a student continues graduation even after four years he is required to give valid proof to continue enrollment as a student account.
The Santander account is very much appreciated by students due to the great customer service, great overdrafts and freebies.
To know more about currencies, education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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