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Santander Launches 1|2|3 Smart, The New Product and Service Range for Millennials

  • The bank offers a new account, for people between 18 and 31 years of age, with a free, zero-fee version, and a premium version, which has a flat fee of two euros per month and multiple benefits.
  • The premium version pays back 1% of purchases carried out with any Santander card in physical shops, 2% of purchases made online and 3% of payments made via mobile phones using Santander Wallet or Apple Pay.
  • Holders of the premium account will enjoy free, unlimited cash withdrawals at Santander’s 25,000 ATMs around the world and three free withdrawals per month at non-Santander ATMs in the European Union.
  • For the first time, a bank offers millennials access to leasing of tech products (iPhone 7, iPhone SE, MacBook Air) or cars with favourable terms and insurance and car maintenance services included.

Santander España broadens the scope of its 1I2I3 strategy and launches a full proposal to attract millennials, the first generation of digital natives. The core product, which will be launched on Thursday, 20th April, is the 1I2I3 Smart account, in two different forms: free and premium. The bank has designed a tailored financial proposition and special digital services for this group, with communication and marketing strategies that reach out to them.

In its free form, the 1I2I3 Smart account charges no commissions and includes a multichannel contract (online, phone and chat access to accounts) and a debit card which is free of cost both at issuance and renewal. Under the premium format, with a flat fee of two euros per month, the 1I2I3 Smart includes, a free debit card and a range of paybacks for purchases made with debit, credit or prepaid cards. The account pays back 1% of purchases made with a card in physical shops, 2% for purchases made online and 3% for purchases made via mobile phone using Santander Wallet or Apple Pay, for a total maximum payback of 120 euros per year.

The premium version of the 1I2I3 Smart account enables customers to access the 1I2I3 World and receive Santander shares: one for opening the account and one share for each annual anniversary, as well as favourable terms for the remaining products and services.

Among the main advantages of the account, which is designed for young people between the ages of 18 and 31, are free cash withdrawals at the 25,000 Banco Santander ATMs throughout the world, including cities such as London, New York, Lisbon and Río de Janeiro. Three free cash withdrawals are allowed per month at any non-Santander ATM located in a European Union country (commissions are reimbursed).

In just three clicks, Smart clients can also request small personal loans (maximum 1,500 euros) with favourable terms to finance educational expenses.

Leasing and loans with favourable terms
The bank also offers Smart clients leasing of technology products such as iPhone 7, iPhone SE or Mac Book Air, fully insured, or leasing of a variety of car models with all risk insurance cover, making Santander the only bank in Spain that offers this type of leasing to this client segment.

The new design for Smart of the Santander mobile application will also allow young people to interact with the bank via chat. The application will include information and tools related to the academic world: scholarships, training and entrepreneurship. All of this with 24 hour-a-day customer service.

Clients can sign up for an account in minutes in just five steps. To make it easy, a video-identification system will simplify the onboarding process for new account holders. Clients can also sign up for the account in the branch network.

As the private entity that invests the most in education in the world, Santander is already a reference among millennials, through the 124 agreements it has with Spanish universities (1,200 throughout the world) and the educational scholarships the bank grants, which surpassed 13,000 in Spain last year.

The launch of this new account is accompanied by a communication and marketing campaign. At the centre of this is the premiere next Thursday, 20th April, in Callao Cinema in Madrid of the short film “Cuánto, más allá del dinero” (“How much, beyond money”), a science fiction thriller with Adriana Ugarte as leading actress and directed by Kike Maíllo, who received a Goya award in 2012 for best novice director. The short film trailer is now available at

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