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03/06/2019

Santander leverages its size and international presence to improve its service for non-residents in Spain

  • The bank has strengthened its commitment to this group of customers with the Smith Plan, which unites all its products and services for this segment.
  • As part of this new plan, Santander is launching the Cuenta Mundo account, which has no pre-requisites and, for EUR 10 per month, provides access to the Siempre Contigo (Always With You) service, allows the holder to make free online transfers in the SEPA (Single Euro Payments) area and use the One Pay international money transfer service.
  • It also simplifies the mortgage process for non-residents with 17 new initiatives designed to improve customer service and avoid duplication of documents.

Madrid, 3rd June 2019 - SANTANDER NEWS
Banco Santander wants non-residents in Spain to be able to leverage the advantages of its size and international presence via an improved product offer designed specifically for this segment. To do so, the bank has launched the Smith Plan, which unites all the products and services it has been offering this segment, now enhanced with new ones such as the Santander Mundo account.

Santander is aware that non-residents have specific needs that are different from other customers and therefore wishes to leverage the Group's international know-how to better serve this segment through differentiated treatment and a specific value proposition with added services.

The new products include the Santander Mundo account, which costs EUR 10 per month and has no pre-requisites. The benefits of the account include a free Santander Mundo Debit Card, which holders can use to make withdrawals free of charge at all the Group's cashpoints worldwide and to make free online transfers in euros and other currencies (SEPA zone) from the bank's app or online using One Pay. One Pay enables quick – often the same or next day - international transfers between individuals using blockchain-based technology. It also allows customers to find out the precise amount to be sent in the recipient's currency before the transaction is carried out.

Among the new value-added features that Santander is offering non-residents is Siempre Contigo, which includes services such as vacation home repairs, airport pick-up, pet care and walking, housework, management of personal administrative affairs, tickets for events and document translation. Siempre Contigo customers will also be eligible for a 20% discount on the hire of Avis vehicles via Bansacar.

Another key element of the Smith Plan is related to the mortgage process and the mortgage products designed for this segment. In Spain, almost 20% of house purchases and sales involve foreigners; of these, 22% are British and 11% German. Santander wants to take advantage of its presence in these countries to improve the mortgage process for homes purchased in Spain. To this end, it has implemented 17 measures aimed at streamlining the entire process, improving the customer experience and avoiding document duplication.

Santander will strengthen its branches that serve this segment with new specialist managers supported by an ad hoc training programme.

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