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1|2|3 Graduate Current Account

For graduates who have completed a course within the last 3 years, an account with an interest-free and fee-free Arranged Overdraft and in-credit interest balance.

With the 1|2|3 Graduate Current Account you'll get the following:

  • An interest-free and fee-free Arranged Overdraft, up to £2,000 (subject to status).

  • 3% AER/2.96% gross (variable) on balances from £300 up to a maximum of £2,000.

  • Access to 1|2|3 World offers, including preferential rates and special deals on other Santander products.

  • A Visa debit card.

Representative example
0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage Fees apply. Assumed Arranged Overdraft credit limit £1,200. Actual amount may differ.

Please read the full product details and terms & conditions before applying.
Other accounts are available; see our current account range to find out more.

1|2|3 Graduate Current Account Features


From 6 April 2016, you'll receive interest gross, with no income tax deducted. Take a look at our information pages to learn more

Interest Account balance
1.00% AER/gross (variable) £100+
2.00% AER/1.98% gross (variable) £200+
3.00% AER/2.96% gross (variable) From £300 to £2,000

Interest is paid monthly on the first £2,000 of your entire balance once you have at least £100 in your account.

Interest-free and fee-free Arranged Overdraft

Year after graduation Arranged Overdraft limit
1, 2 and 3 Up to £2,000
Representative example
0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage Fees apply. Assumed Arranged Overdraft credit limit £1,200. Actual amount may differ.


How it works

  • Open the account

  • Pay in your main form of funding each month, such as your salary

  • Your account will be transferred to an adult account 3 years after graduation

What you can get

  • Visa debit card with contactless- a quick and secure method of buying goods and services at home and abroad.

  • Contactless payments with your mobile by linking your Santander debit or credit card to your Apple or Android device.

  • Fee free Arranged Overdraft

  • Chequebook

Visa debit, contactless and overdraft are subject to status.

You can use this account to:

  • Set up Direct Debits and standing orders

  • Pay bills

  • Transfer money online, including Faster Payments

Overdraft fees  
 Unarranged Overdraft Usage Fee  £5 per day (capped at 10 days in each monthly statement period) 
 Paid Transaction Fees  £5 per transaction
 Unpaid Transaction Fees  £10 per transaction

If you try to make a payment that would take you into an Unarranged Overdraft, we’ll decide whether or not to pay it depending on your circumstances. As a result, you may incur a Paid or Unpaid Transaction Fee.

We have other borrowing options, such as credit cards, personal loans, and additional loans for our existing mortgage customers. Learn more about our borrowing options

There are other charges applicable with this account, such as when you use your card abroad. Please refer to the Terms and Conditions for details.

From day-to-day banking to exclusive offers, do it your way

Because we know you have busy lives and are often on the move, we want to give you ways to bank that make life easier. We're always looking for new ways to bank that help you do what you need to do, with your phone, computer or in person.

So if you're on the sofa, log on with your tablet to check the interest you've earned. If you want to pay a friend for your share of a night out, use Paym on your mobile to make a quick transfer with no need for bank details. And if you're on the high street pop in for the personal service.

Here are just a few of the things you can do:

Mobile Banking

Our fastest growing way to bank. Use your phone or device to:

  • see balances, make payments and check your interest

  • register for Retailer Offers to earn additional cashback on your spend

  • set up personalised account alerts  to let you know what's going on with your money

And much more

Take a look at our Mobile Banking videos

Get the app


Online Banking

24/7 banking on your desktop or laptop computer. Everything you can do on mobile, plus:

  • switch to paper free and get your statements and other important notifications online

  • manage personal details such as change of address

  • register to receive mobile-to-mobile payments with Paym  

And much more

Take a look at our Online Banking videos

Sign up



Come in and see us for:

  • face-to-face support in managing your account

  • free customer wi-fi: bring your own device into branch and we'll help you with our online and mobile services

Find a branch


Contact Us

Telephone Banking

  • with our UK-based team on hand until 11pm most nights, and an automated service when they go home, do your banking by telephone any day of the week

  • call us on 0800 9 123 123

Find out more



Use our ATMs for:

  • withdrawing cash

  • making cash and cheque deposits

  • checking your balance

  • managing your PIN 


Post Office

  • Use Post Office branches to make cash withdrawals, balance enquiries, cash deposits and cheque deposits

Find out more



Everything you need to know before you apply
We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

To view these documents, you may need to download Adobe Reader.

Before applying please remember to read the full details and terms & conditions.

You can apply for a new 1|2|3 Graduate Current Account if you:

  • are aged 19 or over

  • live in the UK for tax purposes

  • have completed a minimum two year course that is either an; undergraduate, postgraduate, HND or nursing training

  • be in or have a confirmed offer of full time employment

To apply

You'll need to bring proof of your name and address - see a list of acceptable identification.

Frequently asked questions

  • No, the interest-free and fee-free Arranged Overdraft limit remains up to £2,000 (subject to status) for the 3 years the account is open. If at any time you choose to lower your overdraft limit yourself, you can easily do this using Online Banking, in a branch or over the phone.

  • You can use your Santander debit card abroad to make purchases and to withdraw local currency from cash machines as and when you need it. Simply look for the Visa sign, and feel secure knowing that it's a safer option than carrying large amounts of cash or traveller's cheques.


    If you’re a cash card customer you can use your card to withdraw local currency from cash machines abroad wherever you see the Cirrus sign. Charges may apply. For full details please see the General Terms & Conditions


    For further peace of mind, please tell us about your travel arrangements using Online Banking (go to 'Use card abroad' in 'Account services'), your nearest Santander branch  or by calling us on 0800 9 123 123 (lines are open 7am to 11pm Monday to Saturday and 8am to 10pm on Sunday). We'll then be able to make sure your card isn't blocked when you use it overseas.

  • Can’t find what you are looking for? Find more on the current account FAQs page.

AER explained
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.

Gross rate explained
The gross rate is the interest rate we pay where no income tax has been deducted.

Rates may change and we pay interest each month.

EAR explained
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 correct as at 6 April 2016

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