Changes to your current account

Changes to laws or banking regulations can often affect your current accounts and other banking services. We always alert you to any changes to your account's terms and conditions, and we also update this page regularly to clearly communicate the details of any changes.

This page shows you the latest changes to our current accounts.

We’re changing the name of 2 of our current accounts. From early 2024, our 1|2|3 Student Current Account will change to Santander Edge Student current account. And the 1|2|3 Graduate Current Account will change to Santander Edge Grad current account. Everything else about the accounts will stay the same.

On 3 October 2023, we stopped charging the £1 monthly account fee on the Essentials Current Account. 
This change will reduce the cost of using the account. There will no longer be a fee for maintaining the Essentials Current Account and account holders can continue to use their account as they do today. 
What happens next
This change will take effect in the conditions of the Essentials Current Account Key Facts Document from 5 February 2024.

The 1|2|3 Current Account, Select Current Account and Private Current Account were removed from sale on 20 June 2023. 

This means that you can no longer apply for a new account in this range. If you already have one of these accounts, you can continue to use it as usual. The features and benefits with your account remain the same, including cashback, in-credit interest and the monthly account fee. You can find details about your account on our Important information for accounts no longer available to open page

Not sure if the account you have is still right for you? You can also use our cashback and interest calculator to find out what your estimated earnings will be with the accounts we currently have available.

On 20 June 2023, we launched two new current accounts in our range - Santander Edge Up current account and Private Current Account (v2).

From 20 June, it’s free to use your Santander Edge debit card outside the UK. This is because we’ve stopped charging the foreign currency conversion fee (2.95%). This fee previously applied when you withdrew cash or made purchases outside the UK. Please choose to transact in the local currency to avoid other fees.

Find out more about using your debit card outside the UK

  • We’re removing foreign currency conversion fees for certain cash withdrawals with a debit card.
  • We’re making these changes so that our terms comply with law and regulation.
  • We’re making the terms clearer and simpler to read.
  • We’re moving parts of the content around to make it easier for you to find what you need. 
  • There are also changes to reflect our way of doing business. This includes some changes to when we may not make your payments and when we may block or close your account.

We may have already contacted you to tell you about these changes

To read the terms and conditions that are specific to your account, visit our current account important information page. 

Notice of increase to interest earned on credit balances for 1I2I3, Select and Private current accounts

On 7 February 2023, we increased the in-credit interest rate for 1I2I3, Select and Private current accounts as shown below.

1|2|3, Select and Private current accountBefore 7 February 2023From 7 February 2023
Monthly fee to maintain the account£4£4
Interest rate (on balances up to £20,000)1.75% AER/1.74% gross (variable)2.00% AER/1.98% gross (variable)

The new rates have been applied to accounts automatically and customers will now benefit from the higher rates. There are no other changes to how the account works including the cashback you earn, or the monthly fee to maintain the account. 

Why we’ve made the change

Although these accounts aren’t linked to the Bank of England base rate, the rising rate environment means that we can give you a higher rate of return. We regularly review our products to make sure that they continue to offer ongoing value for customers in a fair and sustainable way.

On 6 March 2023, we stopped charging the £10 monthly account fee on all Choice Current Accounts and on 10 April 2023, the monthly overdraft interest cap increased from £20 to £30.

The maximum cost for having the account and using an arranged overdraft will still be £30 a month. Choice Current Account will not cost more as a result of this change. 

Take a look at our overdraft cost calculator to find out more about how this change will effect your monthly overdraft cost.

We’re removing the facility to provide you with an emergency cash advance if your card is lost or stolen abroad. This change will be shown in your terms and conditions from 1 February 2023. 

Take a look at our Travelling page for more information on using your card abroad

We are starting to move our debit card provider from Visa to MastercardTM

What does this mean for you?

When your current Visa debit card expires or you need a replacement for a lost, stolen or damaged card, you may receive a new debit Mastercard rather than a Visa debit card.

Your new card will do everything your old card did and you'll get some great additional features. You can continue to use your existing PIN unless we've said we'll send you a new one.

Next steps:

When you receive your new debit Mastercard, you can use it straight away. Once you begin using your new card, your old Visa debit card will no longer work. 

Your card number will change, so you'll need to:

  • Update your card details on the websites you regularly use and for any annual subscriptions or recurring transactions such as car insurance.
  • Set up your new card in your digital wallet if you use Apple Pay, Samsung Pay, Google PayTM, Fitbit Pay or Garmin PayTM (not applicable for top-up debit card).

If your Personal ID number for Mobile or Online Banking is your old Visa card number, this number will remain unchanged. You can always change this to a new number when you log on to Online Banking under My Details & Settings > Change Security Settings > Change Personal ID.

New features with your debit Mastercard

The following exciting new features will be available to use with your new debit Mastercard

Check your PIN:

Use the handy 'View PIN' feature in our Mobile Banking app to see your Mastercard PIN for a few moments if you've forgotten it.

Card freeze and card controls:

Mobile Banking will let you temporarily freeze your Mastercard if you think it's lost or stolen. Card controls will let you decide whether to restrict certain transactions such as contactless payments, online transactions, international transactions and gambling transactions.

If you'd like to learn more about card freeze and card controls, take a look at our short video

Priceless Cities:

Priceless Cities provides access to unforgettable experiences in the cities where you live and travel. Time is the most precious resource we have, so the Priceless Cities mission is to provide you opportunities to have meaningful moments with the people you care about.

Take a look at the latest exclusive experiences

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