Overview
- The paid packaged current account now pays 2.1% on balances up to £25,000, down from 2.5%.
- The account carries a £5 monthly fee and requires a £1,500 monthly pay-in plus two active Direct Debits to qualify for interest and cashback.
- Customers earn 1% cashback on selected household bills, capped at £15 per month, with exclusions including TV licences, LPG/Calor gas and maintenance contracts.
- At the new rate, a steady £10,000 balance would earn about £210 a year, down from £250.
- Santander says customers can consider other current and savings accounts or borrowing products if the package no longer fits their needs.