1|2|3 Business Current Account

Rated outstanding by Moneyfacts. Earn interest and up to £300 cashback a year

123 Business Current Account

What you can get

  • Up to £300 cashback each year
  • Standard day-to-day banking 
  • 0.10% gross/AER (variable) monthly interest on any credit balances


  • All directors, owners (shareholders) or partners are aged 18 or over and UK resident 
  • Your business doesn’t already have a 1|2|3 Business Current Account (including start-up and switcher offers)
  • 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 with no more than 2 directors, owners (shareholders) or partners

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

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 has been trading for more than a year, and you don’t want to switch your existing account to us, or
  • your business already has a business current account with us and you want to open an additional account.

The fee for this account is £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

Accounts opened from 18 December 2019 will be automatically registered for free alerts about account balance and payments to help you avoid unarranged overdraft charges. We’ll send them as texts to the mobile number you’ve registered with us, so please make sure it’s up-to-date. 

For accounts opened before 18 December 2019, if we have an email address for you, you’ll receive unarranged overdraft usage alerts by email as well as to the mobile number you’ve provided.

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.

Arranged overdraft alerts will also be available from 18 December 2019, however we will not auto-enrol you into these. You can choose to receive these alerts via Online Banking, in Branch, or by calling us on 0800 731 6666.

If you have Mobile Banking we may also choose to send you alerts as notifications there in the future.

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

Information correct as at 6 June 2019.