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1|2|3 Postgraduate Current Account

For students continuing with higher education after an undergraduate degree, an account with an interest-free and fee-free Arranged Overdraft and
in-credit interest.

With the 1|2|3 Postgraduate Current Account you'll get the following:

  • An interest-free and fee-free Arranged Overdraft, up to £1,500 in years 1-3, then up to £1,800 if you stay on to year 4 (subject to status).

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

  • Access to 1|2|3 World offers, including preferential rates and special deals on other Santander products.

  • A Visa debit card.

Representative example
0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage Fees apply. Assumed Arranged Overdraft credit limit £1,200. Actual amount may differ.

 


Please read the full product details and terms & conditions before applying.
Other accounts are available; see our current account range to find out more.
 

1|2|3 Postgraduate Current Account Features

Interest

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

Interest 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

Interest is paid monthly on the first £2,000 of your entire balance once you have at least £100 in your account.

Interest-free and fee-free Arranged Overdraft

Year of study Arranged Overdraft limit
1, 2 and 3 £1,500
4 £1,800

When you open your account you'll get an Arranged Overdraft limit of £250 once you have provided proof that you are a student. To increase this to £1,500 you need to pay in £500 and continue to pay your main form of funding each academic term.

You can ask to reduce your overdraft limit at any time. You may notice as you start a new academic year that your overdraft limit automatically increases in line with the allowances we've set out above. Don't forget that you can always ask us to reduce the limit if you don’t want to have a larger overdraft.

Representative example
0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage Fees apply. Assumed Arranged Overdraft credit limit £1,200. Actual amount may differ.

 

How it works

  • Open the account

  • Pay in £500 to increase the overdraft limit from £250 to £1,500

  • Pay in your main form of funding each academic term

What you can get

  • Visa contactless debit card - a quick and secure method of buying goods and services at home and abroad.

  • Contactless payments with your mobile by linking your Santander debit or credit card to your Apple, Android or Samsung device.

  • Fee free Arranged Overdraft.

  • Retailer Offers - earn cashback of up to 15% at a range of major retailers when you use your Santander Visa debit card.

  • Chequebook

Visa debit, contactless and overdraft are subject to status.

You can use this account to:

  • Set up Direct Debits and standing orders

  • Pay bills

  • Transfer money online, including Faster Payments

Overdraft fees  
 Unarranged Overdraft Usage Fee  £5 per day (capped at 10 days in each monthly statement period) 
 Paid Transaction Fees  £5 per transaction
 Unpaid Transaction Fees  £10 per transaction

The 1|2|3 Postgraduate Current Account has a monthly cap for unarranged overdraft fees of £95 which includes Unarranged Overdraft Usage Fees, Paid and Unpaid Transaction fees.

If you try to make a payment that would take you into an Unarranged Overdraft, we’ll decide whether or not to pay it depending on your circumstances. As a result, you may incur a Paid or Unpaid Transaction Fee. 

We have other 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 applicable with this account, such as when you use your card abroad. Please refer to the Terms and Conditions for details.

Overdraft alerts
By 2nd February 2018 we’ll automatically send you alerts about your balance and payments in order to help you avoid charges e.g. when you’re in an unarranged overdraft, a payment has gone unpaid or you need to pay money in to cover a payment. These alerts are free, and will be sent by text message or email if we don’t have your mobile number.

Once your account has been registered for these alerts, you can update your alert settings, including switching the alerts off,  at any time by logging onto Online Banking, visiting one of our branches or by calling us on 0800 9 123 123.

From day-to-day banking to exclusive offers, do it your way

Because we know you have busy lives and are often on the move, we want to give you ways to bank that make life easier. We're always looking for new ways to bank that help you do what you need to do, with your phone, computer or in person.

So if you're on the sofa, log on with your tablet to check the interest you've earned. If you want to pay a friend for your share of a night out, use Paym on your mobile to make a quick transfer with no need for bank details. And if you're on the high street, pop in for the personal service. 

Overdraft alerts
By 2nd February 2018 we’ll automatically send you alerts about your balance and payments in order to help you avoid charges e.g. when you’re in an unarranged overdraft, a payment has gone unpaid or you need to pay money in to cover a payment.

Once your account has been registered for these alerts, you can update your alert settings, including switching the alerts off,  at any time by logging onto Online Banking, visiting one of our branches or by calling us on 0800 9 123 123.
 

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 balances, make payments and check your interest

  • register for Retailer Offers to earn additional cashback on your spend

  • set up personalised account alerts  to let you know what's going on with your money

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:

  • switch to paper free and get your statements and other important notifications online

  • manage personal details such as change of address

  • register to receive mobile-to-mobile payments with Paym  

And much more

Take a look at our Online Banking videos
 

Sign up

 

Branches

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

 

ATM

Use our ATMs for:

  • withdrawing cash

  • making cash and cheque deposits

  • checking your balance

  • managing your PIN 

Find out more

 

Post Office

  • Use Post Office branches to make cash withdrawals, balance enquiries, cash deposits and cheque deposits

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 

Before applying please remember to read the full details and terms & conditions.

You can apply for a new 1|2|3 Postgraduate Current Account if you:

  • are aged 19 or over

  • live in the UK for tax purposes

  • are on a full time course, with a minimum of one year with a higher education provider

For example, your course could be a Master of Business Administration (MBA), Master of Science (MSc), Doctor of Philosophy (Ph.D), Post Graduate Certificate in Education (PGCE). Please note this list is not exhaustive.

To apply

You'll need to bring proof of your name and address - see a list of acceptable identification.

Frequently asked questions

  • No, unfortunately the Santander 16-25 Railcard is only available with the 1|2|3 Student Current Account.

  • You can use your Santander debit card abroad to make purchases and to withdraw local currency from cash machines as and when you need it. Simply look for the Visa sign, and feel secure knowing that it's a safer option than carrying large amounts of cash or traveller's cheques.

     

    If you’re a cash card customer you can use your card to withdraw local currency from cash machines abroad wherever you see the Cirrus sign. Charges may apply. For full details please see the General Terms & Conditions

     

    For further peace of mind, please tell us about your travel arrangements using Online Banking (go to 'Use card abroad' in 'Account services'), your nearest Santander branch  or by calling us on 0800 9 123 123 (lines are open 7am to 9pm Monday to Saturday and 8am to 9pm on Sunday). We will continue to monitor your account for fraud and unusual transactions whilst you’re abroad. We'll attempt to contact you if we detect unusual activity, make sure we have up to date contact details for you before you travel. If you keep your mobile phone with you, you'll be able to confirm genuine transactions as soon as we contact you. Also, remember to make a note of our phone number from the back of your card, if you notice any unusual transactions or your card is lost or stolen, let us know as soon as possible.

  • A statement period usually runs from the monthly anniversary of the date you opened or transferred your account, unless you've asked for it to be changed.

     

    For example, if your statement date is the 18th of the month, your monthly statement period will cover the period from the 18th of one month until the 17th of the next.

     

    Where we talk about a month in relation to your account, we're referring to the monthly statement period. When we ask you to fund the account each month, or talk about paying cashback monthly - for example - we mean the monthly statement period.

     

    We’ll provide you with a paper statement once every three months, unless you ask us to provide you with a paper statement monthly or you’ve chosen to be paper-free. However often you choose to receive your statements, it will not affect your monthly statement period. For more information please visit the changes to your account page

  • Can’t find what you are looking for? Find more on the current account FAQs page.

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.

EAR explained
EAR stands for Effective Annual Rate and represents the yearly cost of an overdraft, which takes account of how often we charge interest to the account, and does not include any other fees or charges.
 
Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions.
 
Information correct as at 6 April 2016

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