1|2|3 Business Current Account – Start-up and Switcher offers

We're proud to have been awarded Best Business Current Account Provider for the last 16 years and Business Bank of the Year for the last 4 years by Moneyfacts.

123 Business Current Account

What you can get

  • Discounted monthly fee of £5 for start-ups for 18 months and switchers for 12 months (£12.50 standard monthly fee)
  • Access online, at Santander branch counters, ATMs and Post Office branches
  • 0.10% gross/AER (variable) monthly interest on your credit balance


  • Your business is registered in the UK
  • You're either a sole trader or your business is a partnership, limited liability partnership, private limited company or trust

Arranged Overdraft
(Subject to status)

Representative 5.75% EAR (variable)

Annual fee 1% of the agreed overdraft (minimum fee £50)

Earn 1%, 2% or 3% cashback

Cashback on the first £10,000 of annual credit turnover

Annual credit turnover

Cashback amount


Less than £200,000

Up to £100 per year



£200 per year



£300 per year

Your credit turnover is any money paid into your account, except any credit interest we add to the account or money transferred from other Santander accounts also held in your business’s name. Cashback will be calculated annually on the same date the account was opened (or transferred to), or the first working day after this. Cashback will then be paid on the following working day. 

Switch to us in 7 days

If you switch your business current account to us using the Current Account Switch Service you’ll pay a reduced monthly fee of £5 per month the first 12 months. 

At the end of the 12 month period, you’ll pay £12.50 per month.

You can switch your business current account with any provider to us. You will receive a new account number, card and PIN.

Current account switch guarantee

For more information take a look at our switching support page

This offer works for you if:

  • your business is in it’s first year of trading, and
  • this is your business’ first business current account with us.

The account fee is £5 per month for the first 18 months, at the end of the 18 month period you’ll pay £12.50 per month.

Account fees and charges

1|2|3 Business Current Account

Monthly fee

£12.50 per month

Cash deposit charges at Santander ATMs

No charge and unlimited ATM deposits

Cash deposit charges at Santander and Post Office branch counters

No charge for deposits of up to £1,000 per month (then 70p per £100)

Charges apply to non-standard transactions such as change-giving, CHAPS payments and foreign currency transactions. Please see the Key Facts Document in ‘Other account information’ for full details. 

Overdraft (there are fees associated with your overdraft)

As part of your current account application, you can apply for a business overdraft from £500 to £25,000 (subject to acceptance) if: 

  • you have a good credit history;
  • you haven't been declared bankrupt;
  • you haven'’t been a disqualified director or a director of a failed business within the last 6 years; and
  • neither you, nor any of the directors, owners (shareholders) or partners, have had an Individual Voluntary Arrangement.

Arranged overdraft annual fee

1% of the agreed overdraft (minimum fee £50)

Arranged overdraft interest rate

5.75% EAR (variable)

(Bank of England Base Rate plus 5%)

Unarranged overdraft interest rate

25.75% EAR (variable)

(Bank of England Base Rate plus 25%)

Unpaid item fee


Paid item fee

Not applicable

Overdrafts depend on your circumstances and you must repay any overdraft when we ask, in line with our General Terms and Conditions.

Everything you need to know before you apply

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


Ways to bank with us

24/7 banking on all your devices. You can set up paper free statements and set up personalised account alerts.

  • Online Banking
  • Mobile Banking app
  • Face-to-face banking in our branches and Post Offices
  • In branch – pay in, withdraw cash, deposit cheques and transfer money (all transactions subject to account limits)
  • Telephone Banking
  • Use our ATMs to withdraw cash, make cash and cheque deposits, check your balance and manage your PIN 

Account alerts

We'll automatically send you alerts about your balance and payments in order to help you avoid charges (for example when you're in an unarranged overdraft, a payment has gone unpaid or you need to pay money in to cover a payment). These alerts are free, and will be sent by text message (or email if we don't have your mobile number). Once the alerts have been set up, if you don't want to receive or want to change alerts, you can do this in Online Banking or by calling us on 0800 731 6666.

Checklist – what you’ll need to open an account

Participating providers of UK business bank accounts have agreed to a basic set of information that they'll need from you to set up your UK business current account. Find out what you'll need to provide using the simple business account checklist from UK Finance, the UK's leading trade association for financial services. This is only a standard checklist, so you may have to provide additional information while completing our application form.

Have you got the right ID?

We’ll need to check your personal identity and we may need to check the existence of your business. Check you’ve got the ID you'll need

Payment Service Providers

If you are, or have applied to become a Payment Service Provider, please go to the Payment Service Provider page to find out more about the services available and how to make contact with a Santander Relationship Director.


Keep your banking details private and secure.
For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre

Application support and Terms & Conditions

To avoid any delays, please have the information below to hand before applying. Private limited companies and limited liability partnerships need to provide some additional information as outlined below.

Business details

  • Business start date and your current trading address
  • detailed description of what your business does, including your business activities and specialist areas, who you work with, the countries in which you operate and confirm if you import or export
  • Anticipated annual turnover for the next 12 months

Personal details (for anybody named in the application)

  • Full name, date of birth and nationality
  • 3 years' address history and current residential status (owned/rented/other)
  • Length of time with current personal bank and number of personal credit cards

If you have a private limited company or a limited liability partnership, you'll also need your registered name and address, date of incorporation and company registration number. Please make sure these match Companies House before applying.

If you’re providing information about other individuals as part of this application you must have their authority to act on their behalf.  During the application you’ll be asked if you want to hear about products, services and offers that may be of interest. Please note the preferences you select will apply to all individuals and will override any previous preferences given. If you, or any joint account holder, would like to amend those preferences please contact us at any time.

After you apply, we may need to carry out some additional checks to verify your personal identity and the existence of your business. Please check you've got the ID you'll need (pdf)

Everything you need to know before you apply

Important contractual information is included in documents which can be accessed via the links below. We advise that you should read and consider these documents before proceeding with your application. You should print or save copies of these documents for further reference and records. If you have any questions regarding the agreement or you require further information please contact us.

  • 1|2|3 Business Current Account Key Facts Document (pdf) including Statement of Lender and Borrower Responsibilities, FSCS Information Sheet and Exclusions List
  • General Terms & Conditions (pdf) including Terms of Business. These Terms and Conditions include information relating to changes we are making over the coming months, you should keep a copy of these for your records. We will also send you a copy of the terms that apply today if you continue with your application.

If you do not understand any of the details about your chosen product or terms then please contact us before applying.

If you have recently applied, please call us on 0800 731 6666 to check the progress rather than applying again. Lines are open Monday to Friday 8am to 9pm and Saturday 8am to 2pm.

Apply now

Important information

A Santander 1I2I3 Business World customer is someone who holds a 1|2|3 Business Current Account (including Start-up and Switcher offers). All customers must meet the eligibility for the 1|2|3 Business Current Account (including Start-up and Switcher offers) and 1|2|3 Business World offer.

Subject to availability and may be withdrawn without notice at any time.

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 that we pay where no income tax has been deducted. Interest is calculated daily and paid monthly. Rates may change. 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 Terms and Conditions.

Information is correct as of 6 June 2019.