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Abbey National hopes to control 20% of the student banking market

within three years after signing an exclusive tie-in with the National

Union of Students (NUS).

As the NUS’ financial services partner, the bank will benefit from

exclusive rights to NUS online promotions, sole access to a database of

recent graduates run by ITM Communications, branding on NUS membership

cards and inclusion on 3.5 million CD-ROMs to be distributed to students

in September.

Abbey National is also launching an online student account to target the

3.2 million UK students. The account offers a pounds 1000 interest-free

overdraft, rising to a limit of pounds 1800 in the fourth and fifth

years of study.

Gary Hockey-Morley, the bank’s retail marketing director, said the

account is part of its e-banking, interactive service, which is

available on the internet, digital TV and WAP.

Abbey National is also set to launch a new TV ad by Euro RSCG Wnek

Gosper next week, promoting the benefits of paying bills from home.