Preferred In-Credit Rate Current Account


An everyday bank account with all the features you would expect from a bank account PLUS a high interest rate and £100 cashback when you switch to us.

Get £100 cashback when you switch to a new Preferred In-Credit Rate Account using our Account Transfer Service. Switch today.

What do you get with a Preferred In-Credit Rate Current Account?

1
Switch your account to us and receive £100 cashback.
2
5% AER (fixed for one year) on balances up to £2,500.
3
Free Account Transfer Service.
4
24-hour account servicing.


Get great benefits with our current accounts

  • Special Offer! £100 cashback and 5% AER (fixed) when you switch using our Account Transfer Service and pay in at least £1,000 into your new account each month.
  • 5% AER (fixed for one year) on balances up to £2,500. After one year, this changes to 1% AER (variable).
  • 0% EAR typical overdraft rate for your first 4 months when you switch your account to us using our free Account Transfer Service. After 4 months or if you do not switch the rate is 19.9% EAR (variable).
  • We'll also match your previous overdraft up to £5,000 (depending on your circumstances).
  • You must be aged over 18 and living permanently in the UK.
  • We will not pay interest on any amount over £2,500, or on your whole balance if you do not pay in at least £1,000 monthly.
  • 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.
  • Compared to other banks, we pay up to 50x times more interest, meaning your money is working hard just like you.


Note: £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.

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?

  In credit rate AER (see note 1)
Preferred In-Credit Rate Account 5.00% AER / 4.89% gross (fixed) on balances up to £2,500 for first 12 months then 1.0% up to £2,500 after 12 months.
Barclays 0%
HSBC 0%
Lloyds TSB Tiered rate of 0.10% to 4%
NatWest 0.10%

(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.

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