This comparison simply includes all savings accounts.
Santander Everyday Current Account
Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.
Why we like it: 3.0% AER fixed interest on balances up to £2,500. No fees on arranged overdrafts up to £250. UK & Europe Breakdown Cover, Worldwide family travel insurance. Free mobile banking app, text alerts and secure online banking. £13 monthly account fee
Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.
Why we like it: Free gift worth up to £150 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 months
Why we like it: Everyday current account. 3 months interest-free overdraft and no monthly account fee
Why we like it: Earn rewards of up to £180 a year when you bank with Barclays - Get an annual loyalty reward of £84 plus £60 on your Barclays residential mortgage and £36 on your Barclays home and contents insurance. Start earning rewards with a monthly £3 fee based on £800 paid into your account and 2 direct debits paid out every month
Santander Current Accounts
Santander offer a range of current accounts and are a very attractive option right now due to their cashback reward scheme on their 123 accounts.
As standard, Santander offer:
- Access to your account anytime, anywhere with online, mobile and telephone Banking. Plus you can bank at any of our branches.
- Visa debit card
- A quick and secure method of buying goods and services at home and abroad.
- Apple Pay and Android Pay
- Contactless payments with your mobile by linking your Santander debit or credit card to your Apple or Android device.
- A £75,000 UK savings safety guarantee (shared with Cahoot).
- Withdraw up to £300 a day from any Santander or Link cash machine.
As extra incentive, Santander offer a four month fee-free arranged overdraft when you switch and if you use their Switch Service to move your current account then you will receive a Defaqto 5 star rated service.
Santander offer several types of account, including:
Everyday Current Account
If you're just after the essentials, then this a great account to start with. There’s no monthly account fee but you benefit from the range of benefits of being a Santander customer.
It's simply a regular bank account you can pay into, make payments, set up direct debits and withdraw from as and when you need to. You don’t earn interest on your balance.
Santander 123
The Santander 123 wins for those with savings above £10,000 - or will once the others banks' rate cuts have come into effect. Currently, you can get 1.5% on balances from £3,000 to £20,000.
You are also able to have two accounts in your name, but one must be joint – meaning couples can save £60,000 between them.
This account does have a £5/month fee which is automatically taken from the account each month but for most users that's more than covered by the 3% cashback this account gives on utility bills paid by Direct Debit from the account. Cashback is paid directly in to your account.
The cashback you can receive on your household bills includes:
- 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to a maximum of £1,000)
- 2% cashback on gas bills and electricity bills.
- 3% cashback on mobile, home phone, broadband and paid-for TV packages
Overdrafts with Santander are charged at £1 per day for amounts under £2000 and then rise to £2 and then £3 for amounts of £3000 and over. The first four months of overdraft are charged at 0% interest thanks to the switch reward.
1|2|3 Lite Current Account
This account is very similar to the 123 current account but is only charged at £1 per month. You will benefit from the cashback on household bills but it does not offer any interest on your balance. To qualify you must have two Direct Debits going out of the account and pay in £500 per month.
