Calculate how much cashback and interest you could earn by transferring to our 1|2|3 Current Account



cashback on water and council tax bills and on your Santander monthly mortgage payments (up to maximum of £1,000)


cashback on gas and electricity bills. 

Now includes Santander home insurance premiums (policies administered and underwritten by Aviva Insurance Limited)


cashback on mobile, home phone, broadband and paid-for TV packages

Household bills do not include TV licence,  maintenance contracts (e.g. boiler repair cover), other insurance contracts, commercial use or commercial mortgages1.


From 1st November 2016

1.50% AER/1.49% gross (variable) interest on your entire balance up to £20,000

Before 1st November 2016

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 is paid on the first £20,000 of your entire balance. Before 1 November 2016 you must have at least £1,000 in your account to earn interest.
From 6 April 2016, you’ll receive interest gross, with no income tax deducted. 

Take a look at our information pages to learn more.

What you need to do

  • There is a £5 monthly account fee, that will be automatically taken from your account each month3

To earn cashback and interest you need to:

  • Fund the account with at least £500 a month4
  • Have at least 2 active Direct Debits. For cashback, household bills must be paid by Direct Debit to organisations within eligible categories. 

If you’re moving from an account that’s no longer available or has added benefits (e.g. travel insurance) or that currently has an introductory offer, you won’t be able to transfer back to that account, which will mean you’ll lose its benefits.

See more details on the implications of transferring away from your existing account

If you transfer to a 1|2|3 Current Account your statement date will be changed to align with the transfer date. You will keep your account number, cards and PINs. 

If you have an Instant Plus or Basic Current Account you can’t transfer.

You’ll also get

  • A Visa debit card: For quick and secure purchases at home. If you use your VISA debit card for transactions abroad, you may be charged a foreign exchange fee.
  • A four month fee-free Arranged Overdraft when you switch to us.

Use our Switch Service to move your current account to us and receive a Defaqto 5 star rated service.


Managing your account

  • Manage your account whenever, wherever with Online and Mobile Banking
  • If your card is contactless enabled you can make quick and easy purchases of up to £30 whenever you see the contactless symbol
  • Link your card to your iPhone 6 (or later) or Apple Watch and use Apple Pay at contactless terminals5
  • Opening a 1|2|3 Current Account means you'll be part of 1|2|3 World, with access to a range of benefits, preferential rates and special deals.

Representative example

0% EAR (variable) Arranged Overdraft. Arranged Overdraft Usage Fee of £1 per day. Assumed Arranged Overdraft credit limit: £1,200. Actual amount may differ.

The Unarranged Overdraft Usage Fee is £6 per day6.

Please read the important information below before transferring.

Please read the full product details and Terms & Conditions before applying. Other accounts are available, including our 1|2|3 Lite Current Account. Take a look at our current account range to find out more.

Important information

You must be over 18 and living permanently in the UK to apply for a 1|2|3 Current Account.
Any interest paid and transfers between Santander personal accounts in your name won’t count towards the monthly funding amount.  You may only hold a maximum of two 123 Current Accounts, one in your own name and one in joint names
  1. Cashback: cashback is paid automatically into your account monthly (but may vary depending on how you pay your bill or insurance premium) just before your statement is sent, and we'll show you how much cashback you've earned in each category. 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. Santander has categorised all companies within eligible cashback categories as accurately as possible.
  2. Interest: 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 where no income tax has been deducted. Rates may change, we calculate interest daily and we pay interest each month. For details of our fees and interest rates, visit or ask for the latest Key Facts document at any branch.
  3. The monthly account fee will be due even if you don’t qualify for cashback/ interest benefits in a specific month. 
  4. Funding your account: To benefit from cashback and interest you must fund the account with £500 each month. This isn’t a calendar month, it’s the month from the date you opened your account. You must also set up two active Direct Debits. Any interest and payments between Santander personal accounts you’re named on won't count towards the monthly funding amount. If you don’t meet the minimum monthly funding requirement you won’t receive any cashback or interest for that statement month, however your monthly account fee will still be charged/due.
  5. Retailer limits may apply. Apple Pay excludes cahoot cards, Basic Current Account, Business VISA Electron, Business Credit Card and Santander corporate cards. All devices must be running on iOS 8.3 or later. Apple and iPhone are trademarks of Apple Inc. registered in the U.S. and other countries. Apple Pay and Apple Watch are trademarks of Apple Inc.
  6. EAR: 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.