Reward Current Account

It is important that you feel confident about switching and what is involved, so please click here to read more about our free Account Transfer Service.

Applying for a Reward Current Account is easy:

New to Santander current accounts?

To apply for a new Reward Current Account click here

                                                                                                              Apply Now

Existing current account customer?

If you are an existing current account customer and currently hold a Preferred In-Credit or Preferred Overdraft Rate Account or Zero Current Account, you can upgrade online quickly and easily. 

Not only is it easy to upgrade online with a very short application form but you will also keep all your existing account number and details! 

                                                                                                           Upgrade now

Why choose a Reward Current Account?

Our award winning Reward Current Account is ideal for customers who want a range of extra benefits with their account and are happy to pay a monthly fee.  AND because Reward also pays a high interest rate and has a low overdraft rate your money is always working hard for you.

So if you want to benefit from the £100 cashback and 5% AER (fixed) offer, remember to make sure you select and complete the Account Transfer Service section in your application form.

The Account Benefits

• Annual worldwide family travel insurance – including winter sports;
  
• Green Flag breakdown cover in the UK - including national recovery and cover at home;
  
• Identity protection – including up to £50,000 of legal cover;
  
• Card loss assistance - help if you lose your card;
  
• Key protection and replacement cover;
  
• 0% EAR overdraft on first £100 (depending on your circumstances);
  
• Personal loan deals;
  
• Commission-free travel money – free delivery (minimum order £300).

For full details of each of these benefits and details of who provides each service click here

For details of how we work out the £450 benefit value click here

The interest rates

• You will earn 5% AER fixed for 12 months on balances up to £2,500. After one year, this rate changes to 1% AER (variable).
  
• 0% EAR overdraft for your first 4 months when you switch your account using our Account Transfer Service.  The rate then changes to just 12.9% EAR typical (variable).
  
• We'll match your previous overdraft up to £5,000 (dependant on your circumstances) when you switch your account to us.
  
• To get these preferential overdraft rates you’ll need to pay in at least £1,000 every month, if you don't the overdraft rate will be 19.9% EAR typical (variable)
  
• We will not pay you interest on any amount over £2,500 or on your whole balance if you do not make the required monthly payments of £1,000.

Note 1. AER stands for Annual Equivalent Rate and shows what the interest would be if we paid interest and added it each year. The gross rate is the rate paid before income tax is taken off. Rates may change and we pay interest each month.

Note 2. 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

£100 offer: You are not eligible for this offer if you currently hold, or have held in the past three months, any Santander UK, Alliance & Leicester, cahoot and Cater Allen current account. Offer is only open to customers accepted for a Preferred In Credit Rate, Reward, Zero or Premium account. £100 will be paid into your new account within 3 months of account opening providing you have at least one active direct debit (paid at least once) set up on the account within 11 weeks and have paid in at least £1,000 each month. If you do not have any direct debits to switch you will not receive £100. Limit of one £100 switcher account per person. Offer is limited and may be withdrawn at any time.

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

Rates correct as at 05 July 2010