Savers can now gain access to Santander's market-leading current account

Consumers looking to access the best savings rates can now take advantage of the UK's first fee-free current account from Santander.

The Zero account was previously only available to customers who had a mortgage or an investment product with the bank but now those with £10,000 or more in savings can access the account.

With the latest eligibility extension, the account can now be accessed by 70 per cent of the UK's adult population.

Nici Audhlam-Gardiner, Santander's banking director, said: "This account is unique in that it doesn't charge fees for being overdrawn, or for using ATMs overseas, or for making purchases outside the UK."

Santander is currently offering £100 cashback for consumers who wish to switch their main current account to Zero using the bank's hassle-free switching service.

The account also offers a market-leading in-credit interest rate of five per cent on balances up to £2,500 for customers paying in £1,000 a month for the first 12 months.

Santander recently announced plans to reduce the fees on a selection of its tracker and fixed-rate mortgages.
 

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2011-01-05 12:58:42 © Moneyextra.com