Preferred Overdraft Rate Current Account
An everyday bank account with all the features you would expect from a bank account PLUS a very competitive overdraft.
What do you get with a Preferred Overdraft Rate Current Account?
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0% EAR typical overdraft (fixed for one year) when you switch.
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12.9% EAR after one year.
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Overdraft matching service up to £5,000 (depending on your circumstances).
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Hassle free Account Transfer Service.
Get great benefits with our current accounts
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0% EAR typical overdraft (fixed for one year) when you switch to us.
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After one year the rate will be 12.9% EAR (variable).
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We'll match your previous overdraft up to £5,000 (depending on your circumstances).
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These rates are only available when you switch your account using our Account Transfer Service and pay at least £1,000 every month into your bank account.
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If you do not pay in £1,000 each month, the overdraft rate will be 19.9% EAR typical (variable).
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You must be over 18 and living permanently in the UK.
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You can have access to your account 24 hours a day, using internet and phone banking as well as access to over 1,300 Santander branches.
- It is easy to move your account when you use our Account Transfer Service. Our dedicated team will move your existing direct debits and standing orders to your new account and they will keep you informed along the way.
Click on the following link to read the full terms and conditions and view Interest rates and fees information. More information
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.
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.
Rates correct as at 28th June 2010.
How does this account compare to other accounts?
| Preferred Overdraft Rate Account |
0% overdraft rate for first 12 months.
After 12 months the rate changes to 12.9% typical (variable). |
| Barclays |
19.3% |
| HSBC |
19.9% |
(Source: competitor websites.) Rates correct as at April 2010.
Comparisons are based on accounts for customers over 18 who pay in at least £1,000 a month.