The banking group which includes Abbey, Bradford & Bingley and Alliance & Leicester, is launching a current account called Zero which doesn't charge fees when customers go overdrawn. It will be available from January.
The new launch comes as rival banks have been criticised for introducing new fees for borrowings including authorised overdrafts. Halifax Bank of Scotland faces a customer revolt after last month introducing a daily charging system will disproportionately hit those who slip slightly into the red each month the hardest, even if they stay within an authorised borrowing facility.
To apply, Santander customers must have, or be applying for, a mortgage with Santander.
The Office of Fair Trading (OFT) has put the pressure on high street banks over unfair bank account charges, opening the way for compensation for millions of bank account holders.
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