The UK division of Santander banking group has launched new Select and Private accounts, a move aimed at increasing their banking offering to wealthy customers. Both accounts are available now to clients.
The Private Current Account will offer bespoke services to clients with investments and savings of more than £500,000 or an annual income of more than £250,000. Clients will receive support from a private banker.
The Santander Private Account features benefits of the existing 123 Current Account and the Private Current Account. A 1.5% in-credit interest rate on balances up to £20,000 and 3% cashback on selected household bills are some of the perks that will be rolled over.
On the launch of the Private Select Account, head of Santander private Charlotte Platts, said: “We are delighted to introduce this to our clients as we continue to build our offering of an exclusive, personal service that clients can trust. Banking that looks after them.”
Other exclusive features for both Select and Private customers include:
- A daily £1000 ATM withdrawal limit for the Select Current Account and £1500 for the Private Current Account
- Worldwide emergency card replacement
- Free withdrawals at Santander cash machines abroad, all for a monthly fee of £5.
Santander head of select & private marketing, Andy Warren said: “The launch marks an important milestone for our offering as we continue to identify opportunities to protect and grow our customers’ assets over the long term.”
The Select Current Account is for customers who have savings of more than £75,000 and who earn monthly incomes of more than £5,000.
The service also gives customers access to over 400 dedicated relationship managers, priority telephone services that are available 24-7.
Other perks include:
- Access to the Santander World Elite Mastercard
- Assistance from the Santander Select Global service available in 12 countries worldwide
Santander introduced the World Elite Mastercard for Select and Private customers earlier this year. The card offers benefits to customers while they are travelling.