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January 7, 2010

Santander waives Spanish ATM fees for Abbey customers

by Gill Montia

Story link: Santander waives Spanish ATM fees for Abbey customers

From next week, Abbey and Bradford & Bingley (B&B) current account holders will be able to use Santander’s ATMs in Spain, at no charge.

The move means customers withdrawing money in Spain will avoid cash handling fees of 1.5% and foreign exchange fees of 2.75% of the amount withdrawn.

Santander is in the process of rebranding its UK operations, with Abbey and B&B taking the group name this month, and Alliance & Leicester following on later in the year when account holders will also qualify for free Santander ATM withdrawals in Spain.

According to the banking giant, abolishing fees in Spain could save the group’s UK customers a combined £2 million a year.

However, to qualify customers’ accounts must be credited with at least £1,000 per month.

Last year, the bank launched the Santander Zero credit card, which waives ATM transaction charges worldwide, but again only for customers who pay at least £1,000 a month into their accounts.

The card was recently named “Best European Credit Card” in the Service Category at the 2009 Oscards.

 

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