With the Santander 123 Current Account you earn cashback on your household bills and interest on your balance.

Apply now

Representative Example

  • Purchase borrowing rate:
    12.7% p.a
    (variable)

  • Equivalent to:
    16.5% 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.

One single or one joint 123 Current Account (or one of each) per person only.

Information correct as at 30 March 2014.

123 Credit Card

Credit subject to status, UK residents aged 18 and over

* At the end of the 0% purchase rate period if you haven't paid off the amount of the purchases in full, interest will become payable on the remaining amount at your standard purchase rate.

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 31/12/2014.

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. Registered Office: 2 Triton Square, Regent’s Place, London NW1 3AN, United Kingdom. Registered Number 3932752 Registered in England. Authorised and regulated by the Financial Conduct Authority, including for the provision of payment services under the Payment Services Regulations 2009 (reference number 467596). You can check this on the Financial Services Register by visiting the FCA’s website  www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.  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.

Switch your account to us

We are members of the Current Account Switch Service. This means your switch will be completed in seven working days and backed by the Current Account Switch Guarantee1.

  • We will help you during the switch with our dedicated switcher team. They will manage moving your old account to a Santander current account.
  • We will automatically switch all of your regular payments such as Direct Debits and standing orders and we'll redirect any payments made to your old account for a period of thirteen months, after your switch is completed. We will arrange, on your behalf, for your old current account to be closed on your switch completion date.
  • We will give you a four month fee free Arranged Overdraft during the switching process.
  • We will write to you and keep you informed on the progress of your account switch and if you wish, we can also keep you regularly updated by text message and/or email*.
  • We may also contact you once you have started the switching process to see if we can help you with anything.
Switch guarantee Defaqto logo

Our Switcher Service is 5 Star rated by Defaqto, an independent financial research company.

To find out more about Current Account Switch Service click here.

1 Current Account Switch Guarantee is applicable for any switch made from a bank or building society who are also participants in the Current Account Switch 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. Should you wish to update your details at any other time, please log on to Online Banking, visit your local branch, or call us on 0845 609 0010.


Representative Example - 123 Current Account overdraft

0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage 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 Arranged Overdraft Usage 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.

Limit of two 123 Current Accounts per person in either joint or single names.

If you use an Unarranged Overdraft there is an Unarranged Overdraft Usage Fee of £5 per day, a Paid Transaction Fee of £5 per transaction and an Unpaid Transaction Fee of £10 transaction, 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.

Up to 3% cashback with the Santander 123 Credit Card

Get cashback on your everyday spending at supermarkets, department stores, petrol stations and on National Rail and Transport for London Travel1

What you get

Additional features

Cashback at all major supermarkets
  • Earn cashback at thousands of locations. Click here to search by retailer or by town.
  • Use in conjunction with any other loyalty cards.
  • Monthly cashback straight to your card.
  • Earn cashback quicker for no extra cost with up to three additional cards for family members aged 18 or over who reside at your address. Regardless of the number of cardholders on your account cashback is earned on the first £300 of spend in the 3% cashback category. You will be responsible for the use and payments on any additional cards.
  • Manage your accounts online anytime of day.
  • Manage your card on the go with our mobile app for iPhone, iPad and Android™ devices.
  • Up to 56 days interest-free credit on purchases when you pay your balance in full and on time each month.
  • The 123 Credit Card is now contactless allowing you to make fast, easy and secure purchases of up to £20 wherever you see the contacless symbol Contactless Logo.
Cashback at all major department stores

Cashback on Petrol, National Rail
and Transport for London travel

(on combined spend of up to £300 a month)1.

0% for 18 months on purchases from account opening*
Spread the cost of your purchases, with no interest to pay for 18 months from the date of account opening.

No Annual Fee for the first year²
If you already have, or open a new 123 Current Account, we'll refund the first year's annual fee on your 123 Credit Card. Offer valid until 31/12/2014².

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.

Full list of where I can earn cashback

Representative Example

  • Purchase borrowing rate:
    12.7% p.a
    (variable)

  • Equivalent to:
    16.5% 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

* At the end of the 0% purchase rate period if you haven't paid off the amount of the purchases in full, interest will become payable on the remaining amount at your standard purchase rate.

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 31/12/2014.

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. Registered Office: 2 Triton Square, Regent’s Place, London NW1 3AN, United Kingdom. Registered Number 3932752 Registered in England. Authorised and regulated by the Financial Conduct Authority, including for the provision of payment services under the Payment Services Regulations 2009 (reference number 467596). You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.  Santander and the flame logo are registered trademarks.

Information correct as at 30 March 2014.

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.