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Santander Bank England

If you are 18 or over and eligible for our Student Current Account, you get a free 4-year 16-25 Railcard which could save you 1/3 off rail travel in Great Britain.


Interest Account balance

1.00% AER/gross (variable)

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
£1, 800
£2, 000

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 in at least £500 per 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 and register for Online Banking
  • Pay in at least £500 per academic term
  • Pay in £500 to increase the overdraft limit from £250 to £1, 500
  • Receive a unique code through your Online Banking to get your free Santander 16-25 Railcard
  • There is a limit of one 1|2|3 Student Current Account per person

We can switch your existing current account for you in just 7 working days, including your Direct Debits, standing orders and salary (see switching tab for more details).

What you can get

  • Visa debit card with contactless- 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 or Android device.
  • Fee free Arranged Overdraft.
  • 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

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.

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.

Switching your existing current account to the 1|2|3 Student Current Account

Hassle-free switching in just 7 working days

  • You can either switch to a new account, or one you've already got with us
  • Our dedicated switcher team will switch all of your Direct Debits, standing orders and your salary
  • Choose when your switch starts - this can be up to 60 days in the future
  • Your switch will only take 7 working days
  • We'll keep you updated of progress by letter, text and e-mail
  • We'll close your old account and redirect any payments to your Santander Current Account
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