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1|2|3 Mini Account (in Trust)

If you're looking for an account where you can put some money to one side for your child, the 1|2|3 Mini Account (in Trust) will really help. This account is exclusively available to Santander current account customers who open the account in trust for children under the age of 11.

Why choose the 1|2|3 Mini Account (in Trust)

Our 1|2|3 Mini Account (in Trust) offers an in-credit interest rate and allows you to control the account on behalf of your child.

  • Rewarding interest rates paying 3% AER/2.96% gross (variable) on balances from £300 up to a maximum of £2,000

  • An adaptable way to save for your child 

  • You have complete control as the trustee on the account

  • 24/7 access to the account for your child in branch, online, mobile banking and phone

You choose when to transfer into our 1|2|3 Mini Current Account and give your child control anytime after their 11th birthday.

The 1|2|3 Mini Account (in Trust) is subject to availability. Please read full product details and terms & conditions before applying.


Please read the full product details and terms & conditions before applying. Other
accounts that can be held in trust are available; see our savings account range to find out more.


1|2|3 Mini Account (in Trust) features:

Earn a competitive interest rate on the account balance:

Interest rate Account balance
1.00% AER/gross (variable) £100+
2.00% AER/1.98% gross (variable) £200+
3.00% AER/2.96% gross (variable) From £300 to £2,000

From 6 April 2016, interest is received gross, with no income tax deducted. Take a look at our information pages to learn more

This means that once there is £100 in the account you will start to earn interest and this is earned on the first £2,000 that is in the account.

  • Interest is calculated daily and paid into the account on the same day each month.

  • The flexibility to manage the account 24/7 through the trustees Online, mobile and telephone banking.

Your account journey

At account opening, you will receive:

  • An information pack to help you understand the features of the account.

  • Your new account number and sort code so you can set up any standing orders or payments into the account.

When the child reaches age 11 and until their 18th birthday:

  • You can come into any Santander branch and transfer the account to the 1|2|3 Mini Current Account, subject to the trust being removed, which means the account will then be in the child's name for them to operate. The account number and sort code will remain the same and any payments set up on the account will remain unaffected.

  • Once the account is transferred from the 1|2|3 Mini Account (in Trust) to the 1|2|3 Mini Current Account it cannot be transferred back. 

Once the child reaches age 18:

  • If the 1|2|3 Mini Account (in Trust) has not been transferred to the 1|2|3 Mini Current Account then it will revert to 0.10%AER/gross (variable), unless we notify you otherwise.

Thereafter any money in this account can only be withdrawn and it will not be possible to transfer this account to an alternative account. Your child will be able to open their own adult bank account in their own name.

Children under 18 can only hold one account, which may be either the 1|2|3 Mini Account (in Trust) or the 1|2|3 Mini Current Account (but not one of each). If they already have either of these accounts and another application is made we will not accept it and we will tell the person who applied that an account already exists. Please see our 1|2|3 Mini Account (in Trust) factsheet  for more information.

The mini account with grown-up features

The 123 Mini Current Account (in Trust) lets you keep track of your child's money in the same way you would with an adult account. This means that they, with your help, can check the account with a phone, tablet, computer or in person.

So log on with a device or computer to see what recent payments have been made into the account. Use a mobile to check the balance, and if you're near a branch, pop in and we'll help with any questions you or your child may have.  

Receiving your statements

After May 2017, we'll be sending paper current account statements once every 3 months, unless you ask us to provide you with one monthly, or you require an alternative format such as Braille or large print.

Monthly statements are available to you on request by visiting us in branch or calling us on 0800 9 123 123 or as an e-document which can be accessed and stored using Online Banking 

Need a helping hand? Use Send Me the Link to send yourself our mobile apps, videos, guides, & factsheets

Send me the link allows you to send yourself links for our mobile apps, videos, guides, & factsheets which can help you with your Online & Mobile Banking needs. Access Send Me the Link here. 

Here are just a few of the things you can do:

Mobile Banking

Our fastest growing way to bank. Use your phone or device to:

  • see the account balance

  • see any transactions from the last 4 years

And much more

Take a look at our Mobile Banking videos

Get the app


Online Banking

24/7 banking on your desktop or laptop computer. Everything you can do on mobile, plus:

  • view your monthly statements

  • manage personal details such as change of address

And much more

Take a look at our Online Banking videos

Sign up



Come in and see us for:

  • face-to-face support in managing your account

  • free customer wi-fi: bring your own device into branch and we'll help you with our online and mobile services

Find a branch


Contact Us

Telephone Banking

  • with our UK-based team on hand until 9pm most nights, and an automated service when they go home, do your banking by telephone any day of the week

  • call us on 0800 9 123 123

Find out more


Protect yourself from fraud

It’s very important that you keep your banking details private and secure.

  • Never share a Santander One Time Passcode (OTP) with another person. Not even a Santander employee.
  • Never download software or let anyone log on to your computer or devices remotely during or after a cold call.
  • Never enter your Online Banking details after clicking on a link in an email or text message.

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.


Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You should print or save copies of these documents for your records and future reference.

To view these documents, you may need to download Adobe Reader.

Apply today if:

  • the account is opened in trust for a child under the age of 11

  • the child must be a UK resident

  • the trustee must be a UK resident aged 18 or over

  • the trustee must hold a Santander current account

To apply go into your local branch. An appointment may need to be booked. Find your nearest branch  

Remember, you'll need to bring some proof of your name and address and ID for the child the account is being opened for.

There is a limit of 1 trustee and 1 child per account.

AER explained
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.

Gross rate explained
The gross rate is the interest rate we pay where no income tax has been deducted.

Rates may change and we pay interest each month.

Interest payments made on or after 6 April 2016 will be paid using the gross rate and the registration for gross interest won’t be required. Take a look at our information pages to learn more

Information correct as at 6 April 2016.

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