Santander is offering a free four-year railcard to new current account holders aged 20-25 years old, but you'll need to act quick if you want it.
The deal expires tomorrow evening – Tuesday 30 April. This means applications need to be completed by 23:59, though sooner in the working day if you’re heading to a branch.
The Santander railcard lasts for four years and it reduces travel costs by a third in England, Scotland and Wales, plus the London Underground when it’s linked to an Oyster card. The average saving on the 16-25 railcard comes in at £182 per year.
To qualify for the railcard, you need to open one of the following current accounts, either online or in branch:
Santander current accounts:
- Santander’s Edge Up Current Account offers customers up to £30 per month from cashback on essential bills and spending, 3.5% AER in credit interest (up to £25,000), and fee-free spending abroad, for a £5 monthly fee.
- The Santander Edge Current Account offers customers up to £20 per month from cashback on essential bills and spending, a linked 7% AER easy-access saver, and fee-free spending abroad using the Santander Edge debit card, for a £3 monthly fee.
- The Santander Everyday Current Account is a basic bank account with zero monthly fees. Customers can benefit from online and mobile banking to manage the account, as well as free cash withdrawals from any Santander cash machine when abroad.
Once you’ve opened the account, you’ll need to deposit at least £500 by 14 May.
Railcard codes
From 15 May, the bank will review applications and it will then send a code to eligible customers by Wednesday 31 July to use via the Santander railcard page.
Santander said codes will be sent out in batches, and customers will have to redeem their code within 30 days of receiving them, so make sure you use it or diarise to redeem ahead of this cut-off date.
The card’s discount usurps the traditional student 16-25 railcard, which lasts for just three years. With the Santander railcard, an average saving of £728 can be expected over the period, according to the bank.
Andrea Melville, director of current accounts, savings and business banking at Santander, said: “With the days becoming longer and promises of sunshine just around the corner, we’re all planning to make the most of spring – whether that’s a staycation, a day trip to somewhere different, or simply taking advantage of longer evenings with friends.
“Not only does the railcard give users a third off train travel to get where they want to go, but paired with our Edge and Edge Up current accounts, customers can also benefit from cashback on their travel, as well as on their everyday spending and household bills.”
Current account switch offers dry up
Current account switch deals offering savers up to £200 to uproot your everyday banking to a new provider have come in dribs and drabs over the last few months.
However, last week, the final hard cash offer was pulled by First Direct (£175), leaving savers without a switch bonus offering money in your bank account.
But, savers shouldn’t be deterred from switching banks. It just now means you’ll have to compare other perks offered, such as the overdraft facility, in-credit interest or other criteria specific for your banking needs.
Related: Nationwide’s £39m bonus tab for new current account switchers
