Select Current Account

From 12 April 2021 there’s a £4 monthly fee to maintain the account. It’s paid from your account automatically each month. Before 12 April 2021 the monthly fee is £5.

The Fee Information Document (2.16 MB) details the main fees and charges on this account, including those associated with using an overdraft.

For further explanation of our main terms and services take a look at our Glossary

An overdraft lets you borrow through your current account. It’s intended mainly for short term costs or emergencies and isn’t generally suitable for longer-term borrowing. There is a cost associated with using an overdraft. The way you manage your overdraft, for example if you don’t repay your interest and charges regularly, may affect your credit file. This could make it harder or more expensive to get credit with us or other providers in the future.

Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. We may ask you to repay all or part of your overdraft at any time but we'll try to notify you of this in advance.

An arranged overdraft is when we let you borrow up to a pre-agreed limit – you can ask for one when you open your account or at any other time.

An unarranged overdraft occurs when your account goes overdrawn without an arranged overdraft in place or if your account goes over your arranged overdraft limit.

When you try to make a payment that would take you into an unarranged overdraft, we make the decision whether to allow or reject the payment based on your individual circumstances. If we allow a payment, it will take you into an unarranged overdraft. We don’t charge fees for allowing or refusing a payment due to lack of funds.

Is the eligibility checker right for me?
Already completed the eligibility checker? You can retrieve your previous decision

The table below shows you how you’ll be charged for using your overdraft. The first £500 is interest free. 
 
How does our overdraft compare? The purpose of a representative APR is to enable customers to compare the costs associated with different credit products.

If you are switching to us there’ll be no arranged overdraft interest charged for the first 4 months

You can ask for up to 3 months of temporary overdraft support if you still find yourself financially impacted by coronavirus.

To find out how we can help you and to request support, please see our FAQs

If you've requested temporary overdraft support that is coming to an end and you need further support, please go to our money worries page.

If you use an arranged overdraft of £1,200 you’ll be charged an interest rate of 27.06% APR/ 39.94% EAR (variable). There are no charges on the first £500 of your overdraft. Actual credit limit may differ. Before 12 April 2021 the APR is 28.33%. From 12 April 2021 there is a £4 monthly fee for maintaining the account. Before 12 April 2021 the monthly fee is £5.

We offer other current accounts with different overdraft interest rates or without the option for an overdraft facility. We  also have different 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 with this account, such as when you use your card abroad.  Please refer to the Terms and Conditions for details.

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

You’ll be automatically set up to receive text alerts when:

• your account makes or may make use of an unarranged overdraft
• you have regular payments due on your account and you don’t have the funds to cover them
• where a payment is refused as you don’t have enough funds.

You’ll also be automatically set up to receive an alert when your account goes further into arranged overdraft which may cause the cost to increase.

We’ll send these before your account is charged so that you have plenty of time to pay in money and either avoid or reduce overdraft charges. If we don’t have a valid mobile number for you, we might not be able to reach you.

You can also register for other account alerts to help you to stay on top of your finances. For example, alerts to advise you when your balance has fallen below a set limit, or you have had a deposit into your account greater than a set amount. 

For more information visit Account alerts

You can manage your alerts settings at any time by using Online Banking, calling us on 0800 9 123 123 or visiting a branch.

From 12 April 2021 monthly interest of 0.30% AER/gross (variable) on balances up to £20,000. Before 12 April 2021 you’ll receive monthly interest of 0.60% AER/gross (variable) on balances up to £20,000.

Rates are displayed to two decimal places. Interest is calculated daily and paid monthly.

Interest is received gross, with no income tax deducted. Take a look at our information pages to learn more

You can earn 1-3% cashback on selected household bills paid by Direct Debit every month. Cashback is paid monthly, capped at £5 per month in each of the 1%, 2% and 3% cashback categories.

Cashback is paid on Direct Debit payments made directly to the provider. If your water bill, for example, is included within your council tax bill, cashback will be paid at the rate applicable for council tax, as it isn’t possible to identify the proportion of the payment that relates to water.

Exclusions apply: cashback is not paid on TV licences, LPG/ Calor gas, maintenance contracts (e.g. boiler repair cover), other insurance contracts, commercial use or commercial mortgages.

Find out which suppliers you can earn cashback with.

• You’re 18 or over and live in the UK permanently
• Either pay your main income of at least £5,000 a month into your Select Current Account (excluding transfers from other Santander accounts) or keep £75,000 in any Santander investment(s), savings or current accounts

You can have a maximum of 2 Select Current Accounts and 1|2|3 Current Accounts, 1 in your name and 1 in joint names.  

We’ll check regularly that you’re still eligible for the Select Current Account. If you no longer meet the criteria, we’ll contact you to explain your options

Retailer Offers makes it easier to earn a little extra from a variety of Retailers. Once you switch on Retailer Offers in Online or Mobile Banking, you’ll be able to choose the offers you’re interested in and earn up to 15% cashback just by using your Santander cards.

• Emergency cash advance within 24 hours if your card is lost or stolen abroad. Available worldwide except Cuba, India, Iran, North Korea, Sudan, Syria and Turkmenistan.
• Cash withdrawal in a foreign currency outside the UK: we’ll waive the 2.95% foreign currency conversion fee when you use Santander-branded cash machines in Germany, Spain, Poland, Portugal, Argentina, Chile, Mexico, Puerto Rico, Uruguay, USA and Brazil. Please choose the option to transact in the local currency to avoid being charged fees.
• Preferential rates on savings and mortgages and discounts on insurance products 
• Exclusive Santander Select debit card

• Online Banking
• Mobile Banking
• Get personalised spend insights with My Money Manager
• Register to receive mobile-to-mobile payments with Paym
• Contactless payments with your mobile by linking your Santander Select debit card to your Apple, Android or Samsung device.
• Transfer money abroad with One Pay FX

Face-to-face support in branch and UK-based telephone support

• Telephone Banking with a dedicated UK-based team available 24/7
• Cash machine
• Post Office to make withdrawals, balance enquiries, cash deposits and cheque deposits

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