Santander vs Lloyds: Fees and features (2025)

Not happy with your current account and thinking of switching? There’s a lot of choice available in the UK, with hundreds of accounts from high street banks, digital banks, building societies and non-bank alternatives too.

To help you choose the right option for you, we’ll be pitting two of the UK’s most popular banks against each other.

It’s Lloyds vs. Santander on current accounts, features, cards, international transactions and of course, fees. We’ll compare the two on all the things that matter, so that you can decide which is best for your needs.

So, let’s get started with a quick overview on both banks.

Table of contents
Santander vs. Lloyds - An overview Santander vs. Lloyds - Account types Santander accounts Lloyds accounts Lloyds vs. Santander- Fees Santander vs. Lloyds - Cards Using your debit card overseas - withdrawal fees and limits Lloyds vs. Santander - International money transfer Which is best for you - Santander or Lloyds? Wise: an alternative for managing your money at home and abroad

Santander vs. Lloyds - An overview

Lloyds Bank is one of the ‘Big Four’ banks in the UK, along with Barclays, NatWest and HSBC.

It has a history dating back to 1765, and is part of Lloyds Banking Group - which also owns Halifax and Bank of Scotland.

The bank has a network of branches in the UK, along with an international presence through its parent company.

Santander has become a well-known fixture on UK high streets, although it’s owned by Spanish bank Banco Santander.

It’s relatively new to the UK (compared to Lloyds), having launched in 2010 with the takeover of Abbey National and Bradford & Bingley. It also has a global presence, as well as many UK branches.

Here’s a quick overview of what both banks have to offer in terms of accounts and features:

	Santander	Lloyds
Current accounts	Basic, standard and premium accounts Student accounts Children and youth accounts	Basic, standard and premium accounts Student accounts Children and youth accounts
Savings accounts	Easy access Limited access Fixed term Regular saver Cash ISA Children’s savings accounts	Instant access Fixed term Cash ISAs Children’s savings accounts
Cards	Debit cards Credit cards	Personalised debit cards Credit cards
Other financial services	Loans Mortgages Investments Insurance Overdrafts	Personal loans Mortgages Investments Insurance Overdrafts
Digital banking	Online and mobile app	Online and mobile app
Business banking available	Yes	Yes
Private banking available	Yes	Yes
International services	International payments	Travel money International payments
Customer support	Branch Phone Online or in-app messaging	Branch Phone Online or in-app messaging
Part of the Current Account Switch Service	Yes	Yes
FSCS protection	Yes - £85,000/person	Yes - £85,000/person

Santander vs. Lloyds - Account types

Both Santander and Lloyds Bank have accounts available for both personal and business customers.

Here, we’ll focus on personal accounts - let’s take a closer look at what each bank has to offer.

Santander accounts

The list of Santander current accounts includes the following:¹

Account	Monthly fee	Features	Eligibility
Everyday Current Account	None	No fees for using Santander ATMs abroad Optional overdraft	UK residents aged 18+
Santander Edge Current Account	£3	Cashback on household bills, supermarket shopping and travel Access to exclusive savings rates No fees for using Santander ATMs abroad	UK residents aged 18+ Pay in £500/month and 2 Direct Debits
Santander Edge Up current account	£5	Cashback on household bills, supermarket shopping and travel Interest on balances up to £25,000 No fees for using Santander ATMs abroad	UK residents aged 18+ Pay in £1,500/month and 2 Direct Debits

Santander also has a student account, accounts for under 18s and a basic bank account - this is designed for people who don’t qualify for other standard bank accounts.

As for savings accounts, Santander has the following to choose from:

• Easy Access Saver
• Limited Access Saver
• Regular Saver
• Santander Edge Saver
• Easy Access ISA
• Fixed Rate ISAs
• Fixed Term Saver
• Junior ISA.

Lloyds accounts

Lloyds has many more current accounts available compared to Santander and other high street banks. Let’s take a look:²

Account	Monthly fee	Features	Eligibility
Classic	None	Up to 15% cashback with Everyday Offers Optional overdraft	-UK residents aged 18+
Club Lloyds	£3 (refunded if you pay in £2,000+/month)	All the benefits of Classic Yearly Lifestyle Benefit Interest on balances up to £5,000 Exclusive savings and mortgage offers	UK residents aged 18+
Club Lloyds Silver	£11.50 + £3 (refunded if you pay in £2,000+/month)	All the benefits of Club Lloyds UK and Europe family travel insurance AA breakdown cover Mobile phone insurance No debit card fees abroad	UK residents aged 18+
Club Lloyds Platinum	£22.50 + £3 (refunded if you pay in £2,000+/month)	All the benefits of Club Lloyds Silver Worldwide family travel insurance Boosted AA breakdown cover	UK residents aged 18+
Silver	£11.50	All the benefits of Classic UK and Europe family travel insurance AA breakdown cover Mobile phone insurance No debit card fees abroad	UK residents aged 18+
Platinum	£22.50	All the benefits of Classic Worldwide family travel insurance Boosted AA breakdown cover Mobile phone insurance No debit card fees abroad	UK residents aged 18+

Lloyds also has student, youth and children's accounts, as well as a basic bank account.

Its long list of savings accounts includes:

• Club Lloyds Advantage ISA Saver
• Cash ISA Saver
• Club Lloyds Advantage Saver
• Club Lloyds Saver
• Club Lloyds Monthly Saver
• Standard Saver
• Instant Cash ISA
• Easy Saver
• Child Saver
• Smart Start (for 11-15 year olds).

Lloyds vs. Santander- Fees

Now we come to the important question - how much does it cost to have an account with both Lloyds and Santander?

Here are the main fees and charges you need to know about, based on the standard account available at both banks:

Fee	Everyday Current Account3	Lloyds Classic Account4
Monthly fees	None	None
UK payments - card transactions and bank transfers	£0	£0
Sending international payments	£0 for SEPA (to EEA county in euros) £25 for all other payments	£0 for SEPA (to EEA county in euros) £9.50 for all other payments + correspondent bank fee of £12 to £20
Receiving international payments	£0	£2 for under £100 £7 for £100+
Card payments outside the UK	2.95%	Free in euro in the EEA 2.99% +£0.50 elsewhere
Withdraw cash outside the UK	Free if using a Santander ATM 2.95% otherwise	Free in euro in the EEA 2.99% + £1.50 elsewhere

Santander vs. Lloyds - Cards

Both Santander and Lloyds offer contactless debit cards as standard with all of their current accounts.

You can also apply for credit cards at both banks - here are a few of the most popular:

Bank/credit card	Interest rate (representative APR variable)	Main features
Santander:5
Santander Edge Credit Card	29.8%	Cashback on purchases No FX fees on overseas purchases £3 monthly fee Only for Santander current account customers
All in One Credit Card	29.8%	0% interest on balance transfers for 15 months (no fees) 0.5% cashback on all purchases £3 monthly fee
Everyday Long Term Balance Transfer Credit Card	24.9%	0% interest on balance transfers for 29 months 0% interest on purchases for 3 months No monthly fees
Everyday No Balance Transfer Fee Credit Card	24.9%	0% interest on balance transfers for 12 months No transfer fees for 12 months 0% interest on purchases for 3 months No monthly fees
Santander World Elite™ Mastercard®	49.8%	Airport lounge access and security fast track Global data roaming No FX fees for overseas purchases Cashback on purchases £15 monthly fee Only for Santander Select and Private Banking customers
Lloyds:
Lloyds Bank Cashback Credit Card6	22.9%	0.25% cashback on card purchases No monthly fees
Lloyds Bank World Elite Mastercard®7	55%	Up to 1% cashback on spending No FX fees for 60 months Travel perks including Priority Pass and Airport Security Fast Track £15 monthly fee

Lloyds Bank does have many other credit cards available, but you’ll need to complete an eligibility check to see further details of them. This includes rates and credit limits tailored to you.

Using your debit card overseas - withdrawal fees and limits

If you want to use your new debit card when you go on holiday, you’ll just need to watch out for any foreign currency transaction fees.

Unfortunately, both Santander and Lloyds have fees for overseas card payments and cash withdrawals.

Santander charges 2.95% for overseas card payments and cash withdrawals. But if you can find a Santander ATM, there’s no fee to pay.³

With Lloyds, it’s free to spend and withdraw cash in euros in an EEA country. Elsewhere, you’ll pay 2.99% +£0.50 (payments) and 2.99% + £1.50 (withdrawals) to use your Lloyds card abroad.⁴

Limits for spending and cash withdrawals should be the same as in the UK for both banks, but you might need to check the T&Cs on your particular account.

If you want to swerve high fees for using your card abroad, it could be worth checking out a travel-friendly option like the Wise card.

Available for a one-time cost of just £7, the Wise card works worldwide. It lets you spend and withdraw in 40+ currencies for low fees starting from just 0.33%* - and you’re guaranteed mid-market exchange rates when converting currency.

What’s more, you can withdraw up to £200/month (max 2. withdrawals) from overseas ATMs without any fees. You’ll just need to check whether the ATM you’re using has any fees.

Lloyds vs. Santander - International money transfer

Last but not least, we come to international transfers. These can be the most expensive transaction type with many UK banks, but how do Lloyds and Santander score on this front?

Starting with the good news, both Santander and Lloyds let you make and receive international transfers. And you can send SEPA payments (to EEA countries in euros) for free with both banks.

For other currencies and destinations though, fees apply.

Santander international transfers cost a hefty £25 a time, but it’s free to receive them.³

With Lloyds Bank meanwhile, you’ll pay £9.50 to send international transfers, along with additional correspondent fees which vary depending on the destination. These are:⁴

• £12 for Zone 1 (USA, Canada and Europe (non-EEA))
• £20 for Zone 2 (Rest of the World)

To receive an international payment, you’ll pay £2 to £7 depending on the amount.⁴

Remember that both banks may also apply their own margin to the exchange rate, which could add an extra cost to the transfer.

Which is best for you - Santander or Lloyds?

Santander and Lloyds offer very similar accounts and features for UK customers, so you may find it hard to choose between them.

It’s likely to come down to what you want to do with the account, whether it’s accessing rewards, perks or cashback, applying for credit cards or spending abroad. And of course, whether you’re willing to pay a monthly fee in exchange for extra services.

Hopefully after reading this though, you should have all the info you need to make the right choice for you.

Wise: an alternative for managing your money at home and abroad

Of course, a bank isn’t the only way to manage your money, and it may not be the best option if you need to carry out international transactions. There are some fantastic alternatives out there, such as the Wise account.

Open a Wise account online and you can send, spend, hold and convert 40+ currencies all in one place. Get yourself a Wise card to spend worldwide, and take advantage of Wise Interest to earn a return on your GBP, EUR and USD. Capital at risk, growth not guaranteed.

Whether sending money, shopping up a storm or converting currency, you’ll only ever be charged low, transparent fees* with Wise. And you’ll always get mid-market exchange rates on all currency conversions.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Sources used:

1. Santander - Current Accounts
2. Lloyds Bank - Current Accounts
3. Santander - Everyday Current Account Fee Information Document
4. Lloyds Bank - Personal Banking Terms and Conditions
5. Santander - Credit cards
6. Lloyds Bank - Cashback Credit Card
7. Lloyds Bank - Mastercard World Elite

Sources last checked on date: 06-Feb-2025