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The Zero Current Account
Available to our Mortgage and Investment customers

Available to our Mortgage and Investment customers

  • No fees if you exceed your agreed overdraft
  • No fees from us when you use your debit card in cash machines or in shops anywhere in the world
  • Plus 5.00% AER (fixed) on balances up to £2,500 for 12 months
  • Also includes exclusive access to Santander Zero Credit Card, the only credit card in the UK that charges you zero usage fees whenever you use it. Plus, there's 0% interest to pay on balance transfers (see note 3) for 12 months and a 0% balance transfer fee (see note 3) as a new current account customer

You must:

  • Have a mortgage with us which is not in arrears or hold a Santander Investment
  • Use the new Zero Current Account as your main current account
  • Credit your account with at least £1,000 each month and have 2 or more direct debits
  • Must switch using the Account Transfer Service if you are a new current account customer

5.00% AER/4.89% gross (fixed) (see note 1) on balances up to £2,500 for the first 12 months when you pay at least £1,000 into your account each month. After 12 months you will earn 1.00% gross/AER (variable) (see note 1) on any amount in your account up to £2,500.

We will not pay interest on any amount over £2,500 or on your whole balance if you do not pay in at least £1,000 monthly.

Other cash machine providers may charge a fee for using their cash machine.

Qualifying criteria:

You are eligible if:

  • You have a mortgage with us that is not in arrears, or an investment with Santander ISA Managers Ltd, Santander Portfolio Management UK Ltd or Santander Unit Trust Managers Ltd; and it is your main current account and you pay in a minimum of £1,000 each month; and
  • You switch your current account using the Account Transfer Service (new current account customers only).
  • Existing Current Account customers can upgrade to a Zero Current Account (excludes Instant Plus Account and Basic Account).
  • You must be at least 18 years old and be living permanently in the UK.  Limit of one Zero Current Account per person.

In arrears, means you have missed two or more mortgage payments in a row, in the last 12 months.  If you no longer meet the eligibility criteria we will contact you before taking action to transfer you to our Preferred In-Credit Rate Account.

This is a limited offer and may be withdrawn at any time. This product is not available to Santander Commercial Mortgage customers and Alliance & Leicester mortgage customers.

Note 1. 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.

Note 2. EAR stands for Effective Annual rate and represents the yearly cost of an overdraft, which takes into account 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.

Note 3. You cannot transfer balances from other Santander Group accounts (including cahoot). The 0% balance transfer fee is available if you have a current account or a mortgage with Alliance & Leicester plc or Santander UK plc. If you haven't you can still benefit from 0% interest on balance transfers for 12 months, with an initial 3% (minimum £5) transfer fee applied. Santander Zero Credit Card is issued by Santander Cards Limited.

Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. www.santander.co.uk Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised and regulated by the Financial Services Authority except in respect of its consumer credit products for which Santander UK plc is licensed and regulated by the Office of Fair Trading. FSA registration number 106054. Santander and the flame logo are registered trademarks. Santander UK plc advises on mortgages, a limited range of life assurance, pension and collective investment scheme products and acts as an insurance intermediary for general insurance.