Santander is contacting customers with its traditional style passbooks to let them know that from March 2022, it will be introducing a new way of accessing personal accounts.
Over the next five months it will be phasing out passbooks and asking people to show their bank card when speaking to a cashier, but if they prefer they can apply for a signature card, removing the need to remember a PIN. For customers who prefer paper, the bank says they will be able to order a personal wallet that can be used in conjunction with their cash card, allowing them to keep a record of their transactions.
Matt Hall, Head of Banking and Savings at Santander ,said he hopes the move will make banking at Santander more efficient in the long run.
“While passbooks are the preferred way of banking for some customers, we know that many also find them frustratingly time-consuming.
“By using new and efficient technology we can improve the experience and not only keep the functionality that comes with a passbook but enhance it, for instance by allowing those who want it the choice to access their account via ATMs.”
Passbooks are currently used on a range of Santander savings accounts including Instant Saver, Easy ISA and Flexible Saver for Kids.
Nothing else will change and the bank’s customers will still be able to use the same account number and their usual bank card to carry out everyday banking.
Customers affected should look out for a letter from the bank and there will be another final reminder sent to all customers before March 2022.
For help switching to mobile or online banking, customers can contact the bank by phone or pop into their local branch.
Many other banks have already phased out traditional style passbooks but as these are still popular with older customers, Santander is making sure signature cards, that don’t require people to remember a PIN, are available to those who may prefer them.
Meanwhile, the bank recently launched a new account for students which offers a free four-year railcard and 15 percent cashback on offers at select retailers including Morrisons, the Co-Operative, Costa, Just Eat and Sky.
As well as helping young people to save money on travel fares, the new account offers interest-free overdrafts up to £2,000 for students as well as young people on apprenticeships.
The card also provides savers with discounts on activities and days out such as theatre tickets and restaurants.
In a statement announcing the 1|2|3 Student Current Account, the bank stated: “While end of school exams and assessments have looked a little different this year, many young people are now looking forward to beginning the next phase of their learning at University or in apprenticeships.”