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Santander España Launches a New Payment Strategy To Boost Customer Loyalty and lending


The Santander Bank introduces a flat rate of three euros per month for access to debit, credit and revolving credit cards

  • Santander is the only bank in Spain that currently allows payments via smartphone. Starting this week with Apple Pay for iPhone and Apple Watch, and Santander Wallet for Android
  • The Bank adapts 1|2|3 World access conditions to the new payment model to increase credit card use
  • 2.5 million customers are offered a new, pre-approved credit line for cards for an average amount of over 5,000 euros

Santander España is launching a new strategy in payments to continue increasing customer loyalty, enhance lending and improve service quality. Starting February 12, holders of 1|2|3, Day to Day and Classic accounts will have access to three cards (debit, credit and revolving) tied to their account, which will allow them to make ATM deposits, pay for daily purchases and have access to credit at any time for a flat fee of three euros per month.

Furthermore, thanks to the agreement with Apple Pay, Santander is the only financial institution in Spain that offers clients the chance to pay with their Mastercard cards from all mobile devices (Apple Pay for iPhone and Apple Watch and Santander Wallet for Android).

The bank is also launching a new 16 billion credit line for cards, which will be offered to 2.5 million customers, for average amounts of over 5,000 euros. It will be available via smartphone with just three clicks.

The new strategy means an adjustment to the 1|2|3 World access requirements, which only affects clients that do not currently use their credit cards. As of February 12, to obtain the benefits of the 1|2|3 account, aside from fulfilling the existing criteria (direct payroll deposit, pension, etc; three direct billings and six transactions per quarter), the client will have to make at least one transaction with a credit card, not including ATM withdrawals.

The 1|2|3 account is the most profitable current account on the Spanish market. It offers 3% interest for an indefinite period from the first euro for balances of over 3,000 euros, to a maximum of 15,000 euros; 2% for balances between 2,000 and 3,000; and 1% for balances of 1,000 to 2,000 euros. It also offers cash back of 1%, 2% or 3% for household bills (water, electricity, telephone) and insurance, educational expenses (primary school and university tuition, nursery schools), charitable donations and local and social security taxes.

Once these requirements are met, the client receives one Banco Santander share, and joins the 1|2|3 World. From that point on, client loyalty is rewarded with more shares, depending on the amount of additional products acquired such as pension plans, insurance, loans and mortgages or on increased credit card use.

Rami Aboukhair, CEO of Santander Spain said: “We are implementing a new payment strategy to reinforce the loyalty of our clients and increase their satisfaction. We remain committed to the 1|2|3 Account, which continues to be the key lever of our way of doing banking, based on long term relationships with our clients.”

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