Overdraft account

With our Preferred Overdraft Rate Account you get 0% EAR (typical) overdraft for 12 months when you switch to Santander

Pay less for your overdraft when you switch to us

0% EAR (typical) overdraft rate for 12 months (depending on your circumstances).
After 12 months, the rate changes to just 12.9% EAR typical (variable)
We'll match your previous overdraft up to £5,000 (depending on your circumstances).

Legal details

To apply and qualify for these rates you need to:

be aged over 18 and living permanently in the UK.
switch your account to us using our Account Transfer Service - if you don't your rate will be 12.9% EAR typical (variable) for first 12 months
pay at least £1,000 every month into your bank account - if you don't your rate will be 19.9% EAR typical (variable).

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Why choose this account?

As well as enjoying an interest free overdraft for the first 12 months and a very competitive rate after 12 months of just 12.9% EAR typical (variable), you will also have:

Access to your account 24 hours a day with our internet and phone banking service.
Access to over 1,300 Santander branches.
An exclusive offer for your child – once you have opened your new account, if you have a child between the ages 11 and 18 why not open them an account too? With our Youth Plus Account they will receive a preferential rate of interest of 5.00% AER/4.89% gross (variable) on balances up to £500

So if you want to benefit from these great overdraft rates, remember to make sure you select and complete the Account Transfer Service section in your application form.

Apply now

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Switching your account to us is easy:

It’s important you feel confident in switching to us, so our simple three-step process will keep you informed along the way.

Step 1: Contact

We will ask for a full list of your existing standing orders, direct debits and bill payments from your old bank.

Step 2: Transfer

We will set up all of your standing orders and bill payments on your new account.
We will tell the relevant companies to collect direct debit payments from your new account.

Step 3: Confirm

We will contact you to confirm the transfer is complete.

If you would like to read more information about our Account Transfer Service
please click here.

How does this account compare to other accounts?

	Overdraft rate EAR (see note 2)
Preferred Overdraft Rate Account	0% interest rate for 12 months then 12.9% typical (variable) after 12 months
Barclays	19.3%
HSBC	19.9%

(Source: competitor websites) Rates correct as at June 2010

Comparisons are based on accounts for customers over 18 who pay in at least £1000 a month. This does not include student and graduate facilities.

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Further information:

Please provide a valid email address in your application form (we will contact you by email about your application and to confirm the account is open).
Please add ‘customerservices@santander.co.uk’ to your email contacts. This should help prevent our emails to you being filtered out by your internet service provider.
Once you have submitted your online application, we aim to let you know our decision or your next steps (we may need you to provide some additional information or ID) within 3 working days. Please look out for our email.

EAR stands for Effective Annual rate and represents the yearly cost of an overdraft, which takes into account 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

For more information, please read the full terms and conditions and Interest rates pages.

Rates correct as at 28 June 2010