Changes to your current account

From time to time banking regulations and laws change. Or there can be an update to a current account and the way it works. We will always let you know if these changes affect your current account and the way you bank with us.

This page shows the latest changes to our current accounts. 

Moving to Everyday Current Account

From 1 August, we're planning to convert the following accounts to our Everyday Current Account. This is the nearest alternative account type we offer.

  • Under 18 Cash Card Account
  • Over 18 Cash Card Account
  • Young Worker Account
  • Further Education Account
  • Link Save Account

The Everyday Current Account doesn’t pay any credit interest. It offers an arranged overdraft with a representative rate of 39.94% APR/EAR (variable). Look at our overdraft cost calculator to see how much using an overdraft could cost you.

There will be some changes to your account once we move it.

Existing accountNew accountAccount changes
Under 18 CashcardEveryday Current AccountThe interest rate  we pay of 2.75% gross/AER  (variable) will be removed.
Young WorkerEveryday Current AccountThe interest rate we pay of  0.20% gross/AER (variable) will be removed. 
Further EducationEveryday Current AccountThe arranged overdraft rate will increase from 9.90% APR/EAR (variable) to 39.94% APR /EAR (variable)
Over 18 CashcardEveryday Current AccountThe  interest rate we pay of 0.10% gross/AER (variable) will be removed.
Link SaveEveryday Current AccountThe  interest rate we pay of 0.20% gross/AER (variable) will be removed.


Moving to Basic Current Account

The Instant Plus Account and Essentials Current Account are also converting to the Basic Current Account from 1 August 2024. There won’t be any changes because the Basic Current Account doesn’t pay any credit interest or have an overdraft.

Existing accountNew accountAccount changes
Instant Plus AccountBasic Current AccountNo change
Essentials Current AccountBasic Current AccountNo change


Your options

If you want to carry on using your account after it’s changed, you don’t need to do anything. However, you do have a couple of other options as well. ​

  • You might be able to transfer to another Santander account – take look at our full range of current accounts. If you do transfer, you can keep your existing account details including the account number and debit card. You can also apply for an overdraft. If you’re eligible, your overdraft will be limited to £250 for the first 3 months. ​
  • You can close or switch your account without charge. We’re a member of the Current Account Switch Service, which offers a secure and easy way to switch your account to another bank in 7 working days. You can find more information through the CASS website


Current account switch guarantee


You can still earn interest on your money

You can pay into an existing savings account you have or open a new one. Take a look at the savings accounts we offer.

We changed the names of 2 of our current accounts. On 15 February 2024, our 1|2|3 Student Current Account became the Santander Edge Student current account, and our 1|2|3 Graduate Current Account became the Santander Edge Grad current account. Everything else about the accounts stays 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 won’t be a fee for maintaining the Essentials Current Account. Account holders can continue to use their account as they do today. 
What happens next
This change will take effect in the terms and 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’t 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 easier to understand.
  • 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 might 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.

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