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Frequently asked questions

1|2|3 Graduate Current Account Features


From 6 April 2016, you'll receive interest gross, with no income tax deducted. Take a look at our information pages to learn more

Interest Account balance 1.00% AER/gross (variable) £100+ 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 after graduation Arranged Overdraft limit 1, 2 and 3 Up to £2,000
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

  • Pay in your main form of funding each month, such as your salary

  • Your account will be transferred to an adult account 3 years after graduation

What you can get

  • Visa contactless debit card - 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

  • Retailer Offers - earn cashback of up to 15% at a range of major retailers when you use your Santander Visa debit card.

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.

We have other borrowing options, such as credit cards, personal loans, and additional loans for our existing mortgage customers. Learn more about our borrowing options

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.

Category: Advisor

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