Oh my lordi lord Santander, not again

Cmdr_Bond

+1 on that.

I have just got a 0% credit card transfer deal for 17 months with Barclaycard... so I have spent on my CC instead of my DC, then transferred the balance to my new BC. Result, my overdraft is practically clear. Min payments on my BC are ~100/month and I am paying 50/week

gsmmad

santanders new overdraft rates are very competitive, every bank is switching to the daily rates now.

On the preffered current (Also the reward account) account you get charged 50 pence each day capped at 10 days. So the cost of your overdraft over one month if you use it everyday is £5. This is brilliant for all customers who use there overdraft over 350 quid, if you use it below then its not so good. I have a 6k overdraft, id be able to borrow that 6k for one year at £60 for the year.
The monthly unarranged overdraft fee has been scrapped in favour of the daily charge of £5 capped at 10 days. I think this change is brilliant most ordinary people get into there unarranged OD at the end of the month and only for a day or 2. Instead of charging £25-35 they just charge daily which in most cases would be £5 or £10.
A paid item if you went into your unarranged OD is £5 and its £10 if they bounce the transaction.

These are much better than the previous rates and there very good in comparison to many companies. If your not happy with the daily rate and qualify for the zero current account, that account is still staying at 12.9%. So if this is suitable for you then you could do this.

gsmmad

Another quick thing, if you have another account in another bank which has an overdraft, even if it hasn't got DD's or standing order. You can switch that over and get onto the preffered current account. This way you will benefit from free overdraft for 10 months from opening the account. Also they will match your overdraft upto 5000. As you already have a account with santander, they wont give you the £100 but to have a interest free overdraft that in itself must make opening the account tempting.

If you dont have any direct debits or standing orders. Just pop into the bank that your transfering or log in there online banking and create 2 small £1 standing orders to another account.

Santander may not have the best customer services but they are improving everyday, and they have employed many more staff in branches. Apart from this you gotta admit they have some of the best products by far. I have moved 3 accounts to them with no problem, the switcher process went through perfect (maybe its come a long way since 2009). O2 was the only DD not to move across because they wanted me to speak to them first. I also have a 4th account as well. I keep 2.5k on each account and move £1000 over my internet banking and get 5% on the whole 10k, which gets paid month at around 8 quid per account(so about £32 but seems to go up and down month to month.