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Santander Chile achieved a record when reaching during August a growth of 76,500 net checking accounts, of which 70 thousand correspond to the new Life checking account, which is the first that anyone can have because they do not ask for a minimum salary or work seniority.
This digit exceeds by almost nine times the net growth of this type of products achieved by the rest of the banking system as a whole between January and May, according to the latest official information available.
In the case of Santander, comparing August with the same month of 2019, the volume of net openings for the eighth month of this year represents a 732% increase, which reflects that, in a context of pandemic and physical distancing, Santander’s digital channels have given an adequate response to the needs of customers.
What was observed in August represents a substantial jump not only in comparison with the volume of current account openings in twelve months, but also with respect to the trends seen in the industry throughout the year, where, according to the latest information available from Commission for the Financial Market (CMF), the number of new checking accounts in the entire system grew by 34,100, of which 25,500 were from Santander.
In this way, in the first five months of 2020, Banco Santander Chile consolidated not only as the leading institution in the current account system, with 1,141,000, but rather as the entity with the highest growth rate in this product, with 75% of the total openings during this period.
The exponential increase in the contracting of Life checking accounts is largely explained because a 75% of the contracts were made via smartphones, which is possible thanks to the technological disruption of the new full digital onboarding specially designed for this product.
Miguel Mata, general manager of Santander, stated that “we are very proud of the trust that people have had in our products, especially during these complex times. We are focused on being a responsible bank, creating greater opportunities for social inclusion. Therefore, we want to help and support our clients, delivering digital solutions that facilitate their daily lives. Our teams have worked hard to design new solutions and we will announce more innovations soon. ”
Life checking account
Recently, Banco Santander caused a revolution in the market with Life, an account free of all bureaucracy. It stands out for being the first checking account that literally everyone can have, since it does not ask for a minimum salary, work seniority Nothing like that.
In addition, it serves both shopping in Chile and abroad and online, thanks to delivering a Mastercard Debit Card, which can be used in businesses around the world without paying any extra commission for transactions.
Likewise, Santander Life does not have a maximum fund limit, does not include charges for ATM withdrawals, and enables electronic transfers of up to $ 5 million a day to any other account at any bank in the country, without additional charges.
Your only charge is a fixed monthly maintenance fee which amounts to 0.08 UF, that is, close to $ 2,300.
Another benefit of this banking product is that Banco Santander allows you to contract it 100% online, without having to go to a branch in person. To learn more about it, you can enter here.
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