But now the deal has been expanded for a limited time only to everyone aged 20-25, and you don’t need to be a student to qualify.
Here, Which? explains how to get the free railcard and if the Santander cashback accounts are any good.
What does the free railcard offer?
ThSantander Railcard will get you up to a third off train travel in England, Scotland and Wales and will also get you deals on holidays, restaurants and attractions. You can also get money off the London Underground if you link your railcard to your TFL Oyster card.
It can be used at any time of day but for all journeys made between 4:30am and 10:00am Monday to Friday a minimum fare of £12 is payable, excluding Advance fares. However, there is no minimum fare when you travel at weekends, on Public Holidays, or during July and August.
Santander estimates you could make an average saving of £728 on train travel over the four-year term.
How to get a free railcard
If you’re aged between 20-25 you’ll get a free four-year railcard if you open a Santander current account before 30 April.
You’ll need to be a new customer and open up a Santander Edge, Edge Up or Everyday current account (more on those below) and deposit at least £500 into your new account.
From mid-May onwards Santander will review which customers have met eligibility, and if you qualify a Railcard code will be sent out to you by 31 July.
You'll then have 30 days to redeem it at secure.santander-railcard.co.uk, and you'll need to have online or mobile banking to access your railcard code.
You’ll be able to choose a digital or physical railcard.
Find out moreWhat do Santander current accounts offer?
Here’s what the Edge, Edge Up and Everyday current accounts offer.
Santander Edge account
The flagship Edge account offers the chance to earn money back on both debit card spending and direct debits, plus a linked savings account paying 7% AER.
You can earn 1% cashback, capped at £10 per month, for debit card spending on ‘essential’ grocery shopping and transport.
You can also earn 1% cashback, capped at £10 per month, on household bills paid via direct debit such as council tax and gas and electricity bills.
You also get fee-free spending abroad.
There's a £3 monthly fee, and you'll need to pay in at least £500 each month to keep the benefits, plus have two active direct debits to maintain the account and qualify for cashback.
Find out moreSantander Edge Up account
This account includes all the same perks as above but you can earn up to £15 a month in cashback on supermarket and travel, as well as your bills (max £30 in total).
You'll also earn 3.5% AER in interest (up to £25,000) on your current account balance.
You’ll need to pay a £5 fee to maintain the account and pay at least £1,500 into your account each month and have two active direct debits.
Find out moreEveryday current account
Santander's Everyday current account is also eligible for the railcard offer, and it has no annual fee. It also offers free ATM withdrawals abroad from a Santander ATM.
Find out more:What's in the small print?
The deal is only available until 30 April, although it may be pulled before then if it’s popular as there is a limited number of railcards available.
You’ll need to be aged between 20 and 25 on 30 June to be eligible and not already have a Santander account.
You’ll have to pay at least £500 into the account by 14 May but this will count towards the funding requirements for the Edge and Edge up current accounts, and register for online / mobile banking. If you opt for the Edge Up account you'll need to deposit an additional £1,000 to be eligible for cashback.
Only the person named on the account will be able to claim the Santander Railcard.
You won’t qualify for the deal if:
Is Santander a good bank?
Santander achieved a satisfaction score of 70% in our most recent survey of the best banks, leaving it 17th out of 21 providers.
It scored well for overall customer service, receiving four stars. However, it only achieved middling ratings of three stars for telephone and online banking and contacting customer services.
Find out more:5 ways to save money on train fares
If you don’t fancy snapping up the Santander deal, or you're not eligible to qualify, there are other ways you can save money on travel in 2024.
1. Buy a railcard
Most railcards cost £30 a year and get you a third off both standard and first-class tickets.
Notable exceptions are the Disabled Persons Railcard, which costs £20 a year for a third off tickets, and the 16-17 Saver, which costs £30 a year but offers 50% off.
Some railcards can't be used for certain journeys during peak times on weekdays. These restrictions don't apply to weekends or bank holidays, though.
If you’re not eligible for any railcard, you may be able to save with a Regional Railcard, which gives you discounts when travelling in a specific area. For example, a Network Railcard costs £30 and gets you a third off rail fares in London and the South East.
Find out more2. Buy advance singles
A set number of reduced-price advance tickets are allocated to specific trains and sold on a first-come, first-served basis, so you'll need to be quick to find the best choice of deals.
Advance fares are typically available to buy up to 12 weeks before you travel.
Find out more3. Split your ticket
Instead of buying one single 'through' ticket for your journey – same journey, same seat, no changes – you can buy multiple tickets to cover its component parts.
This ticketing hack allows you to pick up the cheapest fares for different parts of your route, capitalising on advance tickets and off-peak fare changes. The only rule is that your train must stop at the stations named on your ticket.
Your best bet for finding split routes is to use a split-ticketing website such as Trainsplit or Split Ticketing.
4. Avoid the ticket machines
A Which? Travel investigation found passengers who buy their fares from a ticket machine could end up paying more than double.
We sent mystery shoppers to 15 train stations across England to find the cheapest single fare for a journey that day, the following morning and in three weeks.
Tickets bought online were cheaper around three quarters of the time. Same-day tickets were 52% more expensive on average when bought from a machine.
A big problem our research revealed was two thirds of ticket machines don't sell advance tickets, and many didn't appear to sell off-peak fares at peak times.
Find out more:5. Travel to London on Fridays
Until the end of May, passengers using contactless and Oyster cards for travel in London and the surrounding areas will be charged off-peak fares on a Friday.
Peak pay-as-you-go fares usually apply on the tube and rail services in London on weekdays between 6.30am and 9.30am, and between 4-7pm. This means someone commuting from Zone 6 in outer London into Zone 1 would pay £5.60 per journey. But under the new scheme, the fare will be cut to £3.60.
The scheme applies to services run by the tube, Elizabeth Line, London Overground and mainline train operators.
source https://www.which.co.uk/news/article/santander-offers-free-railcard-to-20-25-year-olds-opening-a-current-account-aNuwt0U1b2Ca