In this brief guide, we are going to discuss the Santander save the change.
Does Santander do save the change?
No, Santander does not offer a Santander save the change.
This guide will define what a Santander save the change will have looked like if Santander offered one.
You will likely need to switch on the Santander save the change via your internet banking portal.
To use the Santander save the change you will need a Santander savings account and a Santander debit card.
The Santander save the change feature would be very clever and rounds up all your transaction to the nearest pound.
The difference between what you spent and the nearest pound and put away in your savings which should grow as you continue to spend with your Santander debit card.
With that being said, although Santander does not offer the save the change feature, Halifax bank offers the Halifax save the change and Lloyds Bank offer the Lloyds save the change.
What is Save the change?
Save the change is a very easy way to build up your savings by simply spending as you normally would. In essence, it is a way to build up your savings without thinking of building up your savings. Save the change works by rounding up all of your transactions to the nearest pound and then depositing the difference in a linked savings account.
Santander save the change
The Santander save the change feature would have been a very easy way to save and could help you if you are struggling to save.
With the Santander save to change every time you use your Santander debit card to buy something then your transaction will be rounded up to the nearest pound and the difference will be paid into a linked Santander savings account.
The Santander save the change will only work when your account is in credit and will therefore not put you in overdraft.
At the start of the next working day, Santander will transfer the difference between what your transaction cost and what was rounded up into your nominated Santander savings account.
For example, if your bagel costs £3.20, Santandertransfer 80p from your current account into your savings account.
This means every time you spend on your Santander debit card you will likely be building your savings as well.
In this brief guide, we covered the Santander save the change. If you have any comments or questions please let us know.