Switch to the Preferred Current Acount
What you get:
Up to £300 cashback when you switch your main current account to us using our dedicated switcher service.
Market leading 5% AER (fixed) for 12 months on balances up to £2,500.
A free Arranged Overdraft for 12 months.
A dedicated switcher service that will transfer all your Direct Debits and standing orders for you.
- A market leading current account that gives you 5% AER (fixed) on your balance and up to £300 cashback when you switch
- Up to £300 cashback when you switch your main current account to us. Before you apply click here to see how much cashback you could get and read the cashback eligibility information
- 5% AER (fixed) for 12 months on balances up to £2,500 when you pay in at least £1,000 each month. The rate changes to 1% AER (variable) after 12 months
- Interest is not paid on any amount over £2,500, or on your whole balance if you do not pay in at least £1,000 each month
- A £2 underfunding fee will apply in any month that you cannot pay in at least £1,000
- Easy access to your account 24 hours a day, using internet and phone banking as well as through 1,400 Santander branches
- A free Arranged Overdraft for 12 months (see representative example below). Overdrafts are offered depending on your circumstances
- To qualify for overdraft matching you must be approved for a Visa Debit card, agree to pay your income into your new account and provide proof of your existing overdraft. Maximum overdraft matching limit is £5,000.
- Dedicated Switcher Service – It's important you feel confident in moving your main current account to us, which is why we will help you each step of the way.
- To apply you must be aged 18 or over and living permanently in the UK.
- Cashback offer available until 29th February 2012
Representative Example
- 0% EAR (variable) Arranged Overdraft. No Daily Arranged Overdraft Fee for the first 12 months. Then 50p per day capped at 10 days each monthly statement period applies thereafter.
- Assumed Arranged Overdraft credit limit: £1,200. Actual amount may differ.
If you don't switch the Daily Arranged Overdraft Fee will apply from account opening.
For full details on the cashback offer visit our cashback eligbility page.
Once your account is open, why not use our Cashback checklist to help you make sure your cashback is paid.
If you don't want to switch you can still apply online but you will not qualify for the cashback offer or 0% EAR (variable) Arranged Overdraft and No Daily Arranged Overdraft Fee for 12 months. So if you don't switch but still pay in at least £1,000 each month you will receive the preferential rate of 5% AER (fixed) for 12 months.
4.89% gross/5.00% AER (fixed) for 12 months. AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. Rates may change and we pay interest each month.
Our preferential interest rate is only paid out if you pay in £1,000 per month. Please note this is not a calendar month, it is in the month from the date of your account being opened. For example, if your account was opened on the 7th, you must pay £1,000 in each month between the 7th and 6th of the following month, every month to qualify.
EAR stands for Effective Annual Rate and represents the yearly cost of an overdraft, which takes account of how often we charge interest to the account, and does not include any other fees or charges. Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions.
Information and rates correct as at 9th January 2012.
