- Cashback
Calculator - Current Account
Information - Credit Card
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With the Santander 123 Current Account you earn cashback on your household bills and interest on your balance.
Representative Example
Purchase borrowing rate:
18.9% p.a
(variable)Equivalent to:
22.8% APR
representative (variable)Based on a credit limit of
£1,200^Annual fee:
£24
^ The Credit Limit that applies will depend on our assessment of your application.
Important Information
123 Current Account
To benefit from cashback on household bills and interest on your balance, you must:: pay a monthly account fee of £2 (which will be automatically taken from your account each month); Fund the account with £500 a month (a minimum balance of £1,000 is required to receive interest). This is not a calendar month, it is the month from the date you opened your account. Interest and transfers from any other Santander accounts do not count towards the monthly funding amount. Set up a minimum of two Direct Debits. For cashback household bills must be paid by Direct Debit to organisations within eligible categories.
Household bills include electricity, gas, council tax, water and communications such as mobile and home phone, broadband, paid for TV packages and Santander mortgages. The maximum mortgage payment amounts that qualify for cashback are limited to £1,000 per month (for either single or multiple monthly Direct Debits). Mortgage cashback applies to Santander UK plc mortgages. The 1% cashback on water and council tax bills applies to rates in Northern Ireland. Household bills do not include TV licence, maintenance or insurance contracts, commercial use or commercial mortgages.
Cashback can only be earned through Direct Debit payments within the categories to companies categorised as water, electricity, gas or communications suppliers or as council tax issuing institutions in the Santander 123 Current Account Eligible Originators Classification Listing ©, which contains all major providers. Santander has categorised all companies within eligible cashback categories as accurately as possible. Click here to check if your provider is listed as eligible for cashback. The monthly account fee will be taken even if you do not qualify for cashback/interest benefits in a specific month. Cashback is paid monthly.
1.00% AER/gross (variable) on your entire balance, once your balance is £1,000 or over. 2.00% AER/1.98% gross (variable) on your entire balance, once your balance is £2,000 or over. 3.00% AER/2.96% gross (variable) on your entire balance, once your balance is £3,000 or over (up to a maximum of £20,000). Interest rates will apply on the first £20,000 of your entire balance once you have at least £1,000 in your account. 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.
Information correct as at 4 March 2013.
123 Credit Card
Credit subject to status, UK residents aged 18 and over
1. Includes all major retailers, UK train operating companies, online train ticket retailers and trains operated in Northern Ireland by NI Railways. 3% cashback applies on spend up to £300 a month on either petrol or rail and TfL travel or a combination of these. Purchases not eligible for cashback include (a) TfL travelcards, passes and Oyster Card top up purchases made at newsagents, garages and off-licences (b) NI Railways train tickets purchased online (c) Eurotunnel Le Shuttle and (d) train ticket purchases from travel agents or tour operators. Other cashback exclusions, limits and terms apply. For full cashback terms click here.
2. No annual 123 Credit Card fee for the first year. To qualify for this refund you must: (i) open or hold a 123 Current Account; and (ii) open or hold a 123 Credit Card (iii) set up a Direct Debit from the 123 Current Account to pay your 123 Credit Card within 30 days of either opening your 123 Current Account or 123 Credit Card (whichever occurs latest). The annual fee charged for the first year will then be refunded to your 123 Credit Card account within 21 days from the later of (i) activating your card and/or (ii) setting up the Direct Debit from your 123 Current Account. Offer valid until 30/06/2013.
3. Additional card holders must be 18 or over. You will be responsible for the use and payments on these cards.
Credit provided by Santander Cards Limited. Santander Cards Limited Registered Office: 2 Triton Square, Regent's Place, London NW1 3AN, United Kingdom. Registered Number 3932752. Registered in England. www.santander.co.uk Santander Cards Limited is an Appointed Representative of Santander UK plc, which is 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.
Cashback |
Interest |
||
1% |
Cashback on water, council tax bills and Santander mortgage payments (up to maximum monthly mortgage payments of £1,000) |
1% |
AER (variable) Interest on balances from £1,000 |
2% |
Cashback on gas and electricity bills |
2% |
AER (variable) Interest on balances from £2,000 |
3% |
Cashback on mobile phone, home phone, broadband and paid-for TV packages |
3% |
AER (variable) Interest on balances from £3,000 and up to a maximum of £20,000 |
Household bills exclude TV licence, maintenance/insurance contracts, commercial use or commercial mortgages.
Interest is paid on the first £20,000 of your entire balance once you have at least £1,000 in your account.
What you need to do
To benefit from the 123 Current Account just follow these steps:
1. Pay a monthly account fee of £2 - which will be taken automatically from your account each month
2. Fund the account with £500 a month (a minimum balance of £1,000 is required to receive interest)
3. Have at least two Direct Debits set up on your account. For cashback household bills must be paid by Direct Debit To organisations within eligible categories.
Before applying, please read the 123 Current Account Terms & Conditions.
Switching your current account
With our 5 Star rated Switcher Service, our dedicated switcher team will manage the switch of all your Direct Debits, standing orders and bill payments from your old current account to your new Santander current account.
- We’ll also keep you informed of progress along the way by letter, text and email**.
- We may call you during the switching process if needed. You can also call the switcher team on 0845 609 0010, Monday to Friday 8am to 7pm and Saturday 9am to 2pm.
- We'll give you a four month fee free Arranged Overdraft during the switching process, and for that added reassurance, we’ll waive or refund any fee you may incur from us as a result of the switch. Find out more about our Switcher Service
** To benefit from text and email updates you will have to provide us with your most up to date email address and mobile phone number as part of your online application.
Representative Example - 123 Current Account overdraft
0% EAR (variable) Arranged Overdraft. No Daily Arranged Overdraft Fee for the first 4 months. Then £1 per day capped at 20 days each monthly statement period applies thereafter.
Assumed Arranged Overdraft credit limit: £1,200. Actual amount may differ.
If you don't switch using our dedicated switcher service, the Daily Arranged Overdraft fee will apply from account opening.
Managing your account
- Online Banking: Make the most of your account by using our Online Banking service. You can easily check your statements, pay bills, move money and lots more. You will automatically be registered when you apply
- Mobile banking: If you like to do your banking on the move, then our Mobile Banking service will suit you perfectly - we also have apps available for iPhone, iPad and Android devices. Visit www.santander.co.uk/mobilebanking where you'll find all you need to get started.
- Easy access to your account 24 hours a day with our internet and phone banking service. Plus, you have access to an extensive branch network.
- Visa Debit Card: You will get a Visa debit card for quick and secure purchases at home and abroad. If you use your VISA debit card for transactions abroad, you may be charged a foreign exchange fee*.
- Free text message and email alert service: Our alert service offers customers the option of setting up low/high balance and payment alerts.
Other current accounts are available, please visit www.santander.co.uk/currentaccounts for more information.
Important Information
To benefit from cashback on household bills and interest on your balance, you must:: pay a monthly account fee of £2 (which will be automatically taken from your account each month); Fund the account with £500 a month (a minimum balance of £1,000 is required to receive interest). This is not a calendar month, it is the month from the date you opened your account. Interest and transfers from any other Santander accounts do not count towards the monthly funding amount. Set up a minimum of two Direct Debits. For cashback household bills must be paid by Direct Debit to organisations within eligible categories.
Household bills include electricity, gas, council tax, water and communications such as mobile and home phone, broadband, paid for TV packages and Santander mortgages. The maximum mortgage payment amounts that qualify for cashback are limited to £1,000 per month (for either single or multiple monthly Direct Debits). Mortgage cashback applies to Santander UK plc mortgages. The 1% cashback on water and council tax bills applies to rates in Northern Ireland. Household bills do not include TV licence, maintenance or insurance contracts, commercial use or commercial mortgages.
Cashback can only be earned through Direct Debit payments within the categories to companies categorised as water, electricity, gas or communications suppliers or as council tax issuing institutions in the Santander 123 Current Account Eligible Originators Classification Listing ©, which contains all major providers. Santander has categorised all companies within eligible cashback categories as accurately as possible. Click here to check if your provider is listed as eligible for cashback. The monthly account fee will be taken even if you do not qualify for cashback/interest benefits in a specific month. Cashback is paid monthly.
1.00% AER/gross (variable) on your entire balance, once your balance is £1,000 or over. 2.00% AER/1.98% gross (variable) on your entire balance, once your balance is £2,000 or over. 3.00% AER/2.96% gross (variable) on your entire balance, once your balance is £3,000 or over (up to a maximum of £20,000). Interest rates will apply on the first £20,000 of your entire balance once you have at least £1,000 in your account. 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.
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.
*If you use your VISA debit card for transactions abroad, you may be charged a foreign exchange fee.
If you use your Unarranged Overdraft there is a daily fee of £5 per day, a paid item fee of £5 per item and an unpaid item fee of £10 item, capped at £95 in each monthly statement period. For details of our fees and interest rates, visit www.santander.co.uk or ask for the latest Interest Rates and Fees Information leaflet at any branch.
Information correct as at 4 March 2013.
What you get |
Additional features |
| Cashback at all major supermarkets |
|
| Cashback at all major department stores | |
Cashback on Petrol, National Rail (on combined spend of up to £300 a month)1. |
|
No Annual Fee for the first year² |
Where can I earn Cashback?
Supermarkets
Including Tesco, Asda, Sainsbury's, Morrisons, The Co-op, Waitrose, Marks & Spencer, Iceland, Somerfield and many others including online purchases.
Department Stores
Including BHS, Debenhams, House of Fraser, John Lewis, Fenwick, Harrods, Harvey Nichols and Selfridges and many others including online purchases.
Petrol Stations
Including BP, Shell, Esso, Texaco, Asda, Morrisons, Sainsbury's, Tesco and many more.
National Rail and Transport for London (TfL)
Including Virgin Trains, Cross Country, Chiltern Railways, Eurostar, First Great Western, Arriva Trains Wales, Greater Anglia, Northern Rail, Scotrail and many more.
Representative Example
Purchase borrowing rate:
18.9% p.a
(variable)Equivalent to:
22.8% APR
representative (variable)Based on a credit limit of
£1,200^Annual fee:
£24
^ The Credit Limit that applies will depend on our assessment of your application.
Credit subject to status, UK residents aged 18 and over
1. Includes all major retailers, UK train operating companies, online train ticket retailers and trains operated in Northern Ireland by NI Railways. 3% cashback applies on spend up to £300 a month on either petrol or rail and TfL travel or a combination of these. Purchases not eligible for cashback include (a) TfL travelcards, passes and Oyster Card top up purchases made at newsagents, garages and off-licences (b) NI Railways train tickets purchased online (c) Eurotunnel Le Shuttle and (d) train ticket purchases from travel agents or tour operators. Other cashback exclusions, limits and terms apply. For full cashback terms click here.
2. No annual 123 Credit Card fee for the first year. To qualify for this refund you must: (i) open or hold a 123 Current Account; and (ii) open or hold a 123 Credit Card (iii) set up a Direct Debit from the 123 Current Account to pay your 123 Credit Card within 30 days of either opening your 123 Current Account or 123 Credit Card (whichever occurs latest). The annual fee charged for the first year will then be refunded to your 123 Credit Card account within 21 days from the later of (i) activating your card and/or (ii) setting up the Direct Debit from your 123 Current Account. Offer valid until 30/06/2013.
3. Additional card holders must be 18 or over. You will be responsible for the use and payments on these cards.
Credit provided by Santander Cards Limited. Santander Cards Limited Registered Office: 2 Triton Square, Regent's Place, London NW1 3AN, United Kingdom. Registered Number 3932752. Registered in England. www.santander.co.uk Santander Cards Limited is an Appointed Representative of Santander UK plc, which is 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.
Information correct as at 4 March 2013.
Ready to apply?
To get interest on your balance and earn cashback on bills, shopping and travel you need both the 123 Current Account and 123 Credit Card.
Apply for both now
Using the 123 Current Account application, you can also apply for the 123 Credit Card by simply answering a few additional questions at the end.
Alternatively apply for:
123 Current Account only
With this option you get interest on your balance from £1,000 and cashback on your bills only.
123 Credit Card only
With this option you get cashback on your shopping, petrol and travel only.
